Kuwait hopes to diversify its economy by reducing its reliance on oil and expanding its private sector through significant investments across different sectors. The oil rich nation will soon be home to the “world’s tallest tower” – the Burj Mubarak. The one-kilometre tall tower will be the main attraction of Kuwait’s Madinat Al Hareer or Silk […]
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L&T’s oil and gas unit wins significant EPC contract
The hydrocarbon business of Larsen & Toubro (L&T) announced today that it secured an order under its AdVENT (Advanced Value Engineering and Technology) business vertical. The EPC order is for nitrate plants at Gadepan, Kota, Rajasthan from Chambal Fertilisers and Chemicals Limited (CFCL), a leading fertilizer company in India. The plants, having capacities of approximately […]
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A carbon-neutral future for oil and gas is now achievable
Hydrocarbon producers face mounting pressure to become climate resilient, reduce carbon emissions, and focus on revenue streams from renewables. To alleviate this pressure, power generation organisations need to embrace renewable alternatives, and while some companies have become early adopters, many operators are looking at substantial changes to their business models to accommodate the transition. Oil […]
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Oil rich Kuwait eyes plans to restrict expat population: Report
Kuwait officials have submitted an advisory report to the government to introduce expat quotas, according to a report by Arabian Business, citing Kuwait Times. The report shows that private academic bodies studying Kuwait’s population demographics have submitted an advisory report to the government outlining recommendations to address the “imbalance of expatriates” in the country. The focus of the […]
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From the editor: Oil and gas won’t disappear overnight
I have lost count of the number of times I have silently disagreed with climate activists calling for an immediate end to fossil fuels. Let’s face it. Oil and gas isn’t going to disappear overnight. And ‘boycotting’ fossil fuels to address climate change certainly won’t help. As ADNOC CEO and COP28 President Dr Jaber rightly […]
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L&T secures major oil and gas contracts in Saudi Arabia
The hydrocarbon unit of Indian EPC contractor Larsen & Toubro (L&T) has recently secured multiple offshore packages from Saudi Aramco. The contracts includes work on the further development of Aramco’s giant Zuluf oilfield with a project scope that involves both new infrastructure and the upgrading of multiple production deck modules, sources said. The scope of […]
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Revealed: 5 largest oilfields in the Middle East
The Middle East is home to some of the largest and economical oilfields in the world. The world’s largest oil field, Saudi Arabia’s Ghawar Field, for instance, produces around 4 million barrels of oil per day, accounting for well over one-thirds of Saudi Arabia’s total production. Here is a list of the top five oil […]
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Oil prices rise after OPEC shocks market with output cut announcement
Oil prices spiked on Monday after OPEC+ announced they would cut production by about 1.16 million barrels per day — a surprise move, which could trigger global inflation. Brent crude, the global benchmark, jumped 4.8% to $83.73 a barrel, while WTI, the US benchmark, rose 4.9% to $79.36. On Sunday, Saudi Arabia announced that it […]
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Ghana wants to double oil production by end of 2023
Ghana, which is one of Africa’s fastest-growing oil and gas markets, is seeking to double its crude oil production by the end of this year, African Energy Chamber said in a statement. The country is seeking to double production from around 180,000 barrels per day (bpd) to 420,000 bpd, supported by commercial discoveries in the […]
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Oman offers three oil and gas blocks in latest licensing round
Oman is offering three oil and gas concession areas, Blocks 15, 36 and 54, for investments by local and international local companies, the Ministry of Energy and Minerals said on Sunday. The offering is open between March 26 and June 25, according to the statement published on Twitter. Block 15 is located in the Sultanate […]