Development of the Saudi petrochemical sector is part of Riyadh’s strategy for diversifying the economy away from its dependence on crude export revenues.
South Korea’s Daelim Industrial, France’s Technip, Spain’s Tecnicas Reunidas and Taiwan’s CTCI have submitted bids for the two-plant project in Jubail.
Oman aims to raise gas output to an average of 120 million cubic meters per day (mcm/d) over the five-year period from 2014 through 2018, according to an official.
Continued tensions in Ukraine have caused energy prices to rise and financial markets to decline.
Shell Oman Marketing Company previously supplied half of Oman Air’s fuel at Muscat airport.
Saadan joined Aramco in 1980 and has worked as vice-president of corporate planning and chief executive of the Aramco-Exxon Mobil refinery in Yanbu.
The firm will construct nine turnkey substations for Qatar General Electricity and Water Corporation’s phase 11 expansion.
Abu Dhabi’s TAQA will control the operations and management of both plants under the deal.
James McCallum, CEO & chairman of the LR Senergy Group, writes that the oil and gas sector needs more young talent from a selection of fields.
The substations will aid the expansion of oil fields in Kuwait’s northern region and will support the Gulf state’s plans to boost production.
Mesaieed, a unit of state-owned Qatar Petroleum (QP), raised 3.2 billion riyals ($880 million) in an IPO of about 26 per cent of its shares.
Edward LaFehr, who now leads TAQA’s North American operations, will take on all Sheldon’s current responsibilities.
Ghana is one of Africa’s newest crude exporters after starting production from its offshore Jubilee field in late 2010.
In January, the monopoly said its annual profit for 2013 rose 19 per cent to 3.04 billion riyals from a year earlier.
The company made a fourth-quarter profit of 176.5 million Qatar riyals ($48.5 million), down from 203.3 million riyals a year earlier.
The substation, which has a capacity of 150 megavolt ampere (MVA), was built at the cost of Dhs86 million.
Abu Dhabi Investment Council and Dutch-owned oil trader Vitol have reportedly bought Shell’s downstream Australian assets.
Power production at Ras Al Khair was expected to start in late 2012 but was delayed by construction issues.
The number of 600,000-barrel cargoes scheduled to load in April has fallen to 13, two less than March, the sources said.
Oman relies on oil and gas for 87 per cent of its budget revenue.
Aluminium Bahrain’s net income for the final three months of 2013 was 13.7 million dinars ($36.3 million).
OPEC said global demand will rise by 1.09 million barrels per day this year, up about 40,000 bpd from its previous forecast.
The approval will help ensure that the units remain on schedule for commercial operations in 2019 and 2020 respectively.
ADNOC has reduced the gas prices for the second time in two months.
Saudi Aramco CEO Khalid Al Falih tops the Gulf Business list of most powerful Arabs in Energy.
The Clean Fuels Project is a specification upgrade and expansion of Kuwait’s largest refineries.
IPIC will recruit UAE nationals for roles across a number of its projects.
TAQA plans to take a majority stake in the plants while India’s IDFC Alternatives and PSP Investments will hold minority stakes.
Aramco has re-tendered three of the four construction packages.
Goutam Sen is allegedly being held in detention as part of a corruption probe involving Oman’s oil industry.