Energy prices in Egypt are among the lowest in the world, and the government spends more than a fifth of its budget keeping them down.
The three-year contract has the potential to supply up to around two billion cubic meters over its term.
Dubai’s annual per capita consumption of electricity and water fell to 15,346 KW and 40,777 gallons respectively in 2013.
The project is set to become the world’s largest advanced thermal energy-from-waste facility.
The country’s first nuclear energy reactor is on track to begin operations in 2017, say officials.
Global oil demand growth will be slightly higher than previously thought in 2014, at 1.32 million barrels per day (bpd), the IEA said.
The expansion plan was originally estimated to cost around $7 billion.
The capex forecast for the year is lower than the $2.37 billion which the company spent in 2013.
The firm made a profit of Dhs274 million ($74.6 million) in the three months to March 31.
Saudi Arabia’s peak power demand during summer is approaching the total installed capacity of around 60,000 MW, a senior official said.
Officials had previously said that they would gradually raise the domestic selling price for diesel fuel, almost doubling it by 2017.
The industrial complex is expected to help provide around 100,000 direct and indirect jobs for Saudis.
Kuwait Petroleum Corp (KPC) signed a $12 billion LNG supply deal with Royal Dutch Shell on Sunday.
Saudi Arabia’s oil minister also said that total global oil demand was steady.
The expansion is planned to more than double the capacity of Ruwais refinery from 415,000 barrels a day (bpd).
Russia’s military intervention on Ukraine’s Crimean peninsula and its aftermath in eastern Ukraine have rattled oil markets for the last few months.
Kuwait Petroleum Corp (KPC) also plans to sign a $3 billion deal LNG supply deal with BP, a senior executive said.
The two firms’ owners aim to raise a combined $163 million through the sale of 35 per cent of each company.
Egypt’s government said last week that gifted fuel from Gulf nations, including Saudi Arabia, totalled $6 billion.
The project includes the expansion of a QP-owned gas processing plant at Mesaieed to help collect about 900 million cubic feet of sour gas per day.
Saudi Arabia supplied 9.650 million bpd in April to the market, up from 9.533 million bpd in March, an industry source said.
Alkhair, which has been operating in the Saudi market since 2009, opened an office in the Dubai last month.
BPCL operates a 240,000 bpd Mumbai refinery in western India and a 190,000 bpd Kochi refinery in the south of the country.
The aid helps reduce the heavy costs of government fuel subsidies and the drain on foreign exchange reserves.
The Omani contractor will construct phase two of the Al Ghurair plant expansion in Abu Dhabi’s ICAD – I Mussafah.
The refinery has capacity to process around 116,000 barrels per day of Omani crude.
The move apparently aims to curb smuggling of fuel in the Gulf country, a local newspaper reported.
Its total assets grew to Dhs251.2 billion at the end of 2013, up from Dhs239.3 billion on December 31, 2012.
The UAE concession system allows oil producers to acquire equity in hydrocarbon resources from the country, with ADNOC usually holding a 60 per cent stake in each joint venture.
Rising air conditioning demand during summer and a lack of domestic supply means Kuwait needs to import more gas each year to run its power plants.