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| oil and gas |
World Green Economy Summit to highlight role of innovation
September 20, 2017
The fourth World Green Economy Summit (WGES) 2017 in Dubai next month will highlight the role of innovation and technology in the transformation towards the green economy.
The event will be held under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on October 24 and 25 at the Dubai International Convention and Exhibition Centre.
WGES is organised by Dubai Electricity and Water Authority (Dewa), and the World Green Economy"...
First solar power plant inaugurated in Damascus Countryside
September 19, 2017
The first solar power plant in Syria, which has a capacity of 1.26 megawatts, was inaugurated on Monday in al-Kisweh area in Damascus Countryside, at an overall cost of SYP 1 billion. Electricity Minister Mohammad Zuhair Kharboutli said that the plant’s annual power production is sufficient to provide light to around 500 houses, using 6,000 solar cells that were made in Syria. It saves around 500 tons of fuel annually , worth nearly 90 SYP"...
Sadara achieves full commercial ops at complex
September 18, 2017
Sadara Chemical Company, the largest chemical complex ever built in a single phase, announced the commercial start-up of its toluene di isocyanate (TDI) facility. The production of commercial quantities of TDI marks the full commercial operation of all facilities in the Sadara complex. Located in the company’s chemical complex in Jubail Industrial City II, the TDI unit consists of three integrated units that will produce di nitro toluene (DNT),"...
Synetics: Oil and Gas Surveillance Specialist Wins Multiple Middle East Contracts
September 18, 2017
(AETOS Wire)-- Surveillance solutions business Synectics has secured multiple contracts for onshore and offshore oil and gas developments, spanning Egypt, Saudi Arabia, the UAE and Iran. Encompassing a broad mix of Synectics’ surveillance and security management solutions, the contracts will see the business deploy over 700 COEX™ camera stations across the Middle East region – in a number of cases incorporating new, customer-led feature developments. Off the Egyptian coast, Synectics will be providing an offshore platform with a range of C3000 HD IP, C2000 HD IP and C2000 (PTZ and fixed) camera stations, with specific models featuring new onboard analytics capabilities developed to meet the customer brief. The COEX camera stations, compatible with the on-site VMS, will enable edge-based tripwire detection, negating the need for separate analytics integration. Darren Alder,......
Saudi to welcome bids for solar projects next week
September 17, 2017
Saudi Arabia will start receiving bids to install solar energy production cells from next Sunday, according to reports from the kingdom. The Saudi Electricity and Co-Generation Regulatory Authority is launching an initiative to encourage set-up of small-scale solar energy systems. Under the plans, solar power companies will be able to sell off surplus energy they generate"...
Kuwait Oil Company Awards Major Contract to Grandweld Shipyards
September 17, 2017
Grandweld Shipyards has secured a contract to design, Construct and deliver four crew boats and six pilot boats for Kuwait Oil Company. The contract was signed on May, 2017 by Mr. Ismail Abdulla, Deputy Chief Executive Officer of Kuwait Oil Company, and Mr. Jamal Abki, General Manager of Grandweld Shipyards. The 25meter long Aluminum fast crew boats, with a deck area of 40 square meters will be propelled"...
IEA increases forecast for world oil demand in 2017
September 16, 2017
The International Energy Agency (IEA) has raised its forecast for world oil demand in 2017 by 100,000 barrels per day in comparison with the August forecast to 97.7 million barrels per day, according to a media report.
IEA expects that world demand for oil in 2017 will increase by 1.6 million barrels per day year-on-year, Russian news agency Tass reported, citing the agency's September report.
This forecast is 100,000 barrels per day higher than the IEA August forecast.
Global oil"...
Oil prices rise as IEA sees higher demand, shrinking inventories
September 14, 2017
Oil prices rose on Wednesday after the International Energy Agency (IEA) said a global surplus of crude was starting to shrink due to robust global demand and an output drop from Opec and other producers. By 1201 GMT, international benchmark Brent crude was up 47 cents, or 0.8 per cent, at $54.74 a barrel. US West Texas Intermediate (WTI) was up 47 cents, or 0.9 per cent, at $48.70 a barrel. “Based on recent bets made by investors, expectations are that markets are tightening and that prices will rise, albeit very modestly,” the IEA, which coordinates energy policies in industrialised nations, said in its monthly report. “Demand growth continues to be stronger than expected, particularly in Europe and the US,” the IEA said, raising its 2017 global oil demand growth estimate to 1.6 million barrels per day from 1.5 million bpd. The assessment echoed a report by the......
Iran Signs Deals to Repair Syrian Power Grid
September 14, 2017
Tehran has signed deals worth “several hundred million euros” with Damascus to repair Syria’s power grid in the Aleppo city and the provinces of Latakia and Deir Ezzor. Syrian Electricity Minister Mohammad Zuhair Kharboutli traveled to Tehran as his country is looking to friendly states to help rebuild the country after more than six years of war with foreign-backed terrorists. Syria’s"...
Oil prices rise after dollar recovery
September 13, 2017
Oil prices are a little higher this morning. Brent crude oil futures for November delivery LCOc1 were up 5 cents at $53.73 a barrel while benchmark US West Texas Intermediate crude CLc1 advanced by 32 cents to $47.80. In the precious metals section, gold has retreated early Monday, after hitting its highest in over a year in the previous session. This comes as the dollar recovered a little from last week’s lows, and as the subdued geopolitical tensions dented safe-haven appeal. "...
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