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Eni signs E&P Sharing Agreement for Block 1 offshore Bahrain

Eni signs E&P Sharing Agreement for Block 1 offshore Bahrain

May 1, 2019 No Comments

Following a joint study conducted by Eni in 2016 and the signature of the Memorandum of Understanding dated 13th January 2019, Eni has signed an Exploration and Production Sharing Agreement (EPSA) with the National Oil and Gas Authority of the Kingdom of Bahrain (NOGA) for Block 1. The signing took place in the presence of […]

UAE: EGA’s Al Taweelah alumina refinery starts up

UAE: EGA’s Al Taweelah alumina refinery starts up

April 11, 2019 No Comments

Emirates Global Aluminium’s (EGA) Al Taweelah alumina refinery has started-up, a major milestone for EGA and for UAE industry. This is the first alumina refinery in the UAE and only the second in the Middle East. It processes bauxite ore imported from West Africa into alumina, which is the feedstock for aluminium smelters. We are […]

Dana Gas announce Financial Results for the full year ended 31 December 2018.

Dana Gas announce Financial Results for the full year ended 31 December 2018.

February 15, 2019 No Comments

Dana Gas PJSC announced its Preliminary Unaudited Financial Results for the full year ended 31 December 2018. Revenue was 4% higher at $470 million (AED1.7 bn) compared with last year’s $450 million (AED1.65 bn) due to higher realised prices and incremental production in the KRI in Q4 2018. Gross Profit increased 19% to $140 million […]

$139bn bonanza in pipeline for oil services providers in Middle East

$139bn bonanza in pipeline for oil services providers in Middle East

September 11, 2018 No Comments

GCC and global oil services and equipment providers are cashing in on an upswing in capital spending in Middle Eastern oil and gas-producing countries, senior executives have told Arab News . There has been a flurry of deals during the summer, bolstering market sentiment and investment, they said. Steve Connolly, regional managing director for Altrad […]

FORECAST: GAS PRODUCTION IN THE MIDDLE EAST

FORECAST: GAS PRODUCTION IN THE MIDDLE EAST

August 31, 2018 No Comments

The Middle Eastern gas production is expected to grow from 506 Bcm in 2011 to 712 Bcm in 2021. This regional growth will predominantly be driven by Iran. Despite Trump’s withdrawal from the Joint Comprehensive Plan of Action (JCPOA), we see the country adding 109 Bcm to its annual production between 2011 and 2021. Since […]

A Saudi-Iran Oil War Could Break Up OPEC

A Saudi-Iran Oil War Could Break Up OPEC

August 24, 2018 No Comments

When OPEC and Russia shook on increasing crude oil production by a million barrels daily to stop the oil price climb that had begun getting uncomfortable for consumers from Asia to the United States, there was no sign of what was to come just two months later: slowing demand in Asia, ample supply, and a […]

Middle East and North Africa (MENA) Energy Investment Outlook

Middle East and North Africa (MENA) Energy Investment Outlook

March 22, 2018 No Comments

Total energy investments in the Middle East and North Africa could approach the 1 trillion US$ mark over the course of five years, according to the latest edition of the MENA Energy Investments Outlook published by the Arab Petroleum Investments Corporation (APICORP). This is in spite of uncertainties that have been clouding the regional outlook. […]

APICORP issues debut CNH 630 million 3-Year Dim Sum Bond

APICORP issues debut CNH 630 million 3-Year Dim Sum Bond

March 22, 2018 No Comments

Arab Petroleum Investments Corporation (APICORP), rated Aa3/Stable by Moody’s, priced its inaugural benchmark-sized Dim Sum bond in the offshore Renminbi market on 2nd March, 2018. The 630 million Chinese Renminbi (approximately USD 100mn equivalent) 3-year fixed rate bond matures on March 13, 2021 and offers investors an annual coupon of 4.700%. This is the first […]

HRH Mohammed bin Salman visits the UK

HRH Mohammed bin Salman visits the UK

March 7, 2018 No Comments

The Crown Prince of Saudi Arabia, His Royal Highness Mohammed bin Salman is visiting the UK for the first time since he became Crown Prince in June 2017 and since Saudi Arabia started a major programme of domestic reforms. Saudi Arabia is amongst the largest political, diplomatic and economic power in the Middle East, and […]

Siemens to supply power train for Sabiya power plant in Kuwait

Siemens to supply power train for Sabiya power plant in Kuwait

July 4, 2017 No Comments

Siemens has won an order to supply the key power generation equipment for the Sabiya Extension 3 combined cycle power plant in Kuwait. The contract was awarded by the plant owner, the Ministry of Electricity and Water (MEW), to Alghanim International for execution of engineering, procurement and construction (EPC). The power train will provide an […]

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