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OIL AND GAS

Saudi Arabia to boost India crude shipment amid Iran crisis
May 19, 2019

Saudi Arabia may soak up some of Iran’s previous market share on the Indian market as Saudi Aramco is set to ship additional 2 million barrels per month to Indian Oil Corp between July and December this year on top of the existing term supply deal between the two companies, reported OilPrice.com.

India,"...

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Saudi’s Sipchem, Sahara to seek deals in US and Asia after merger
May 15, 2019

KHOBAR, Saudi Arabia: Saudi International Petrochemical Co. (Sipchem) and Sahara Petrochemical plan to target acquisitions and joint ventures in the United States and Asia when their merger is completed in order to expand market reach, top executives said.
The new entity, Sahara International Petrochemical Company, will have combined assets worth more than 22 billion riyals ($5.9 billion), ranking second after the kingdom’s biggest petrochemicals firm,"...

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Aramco to boost oil supply to Europe, expand trade
May 15, 2019

Dhahran — Saudi Aramco aims to boost its oil supply to Europe by 300,000 barrels per day (bpd) within the next two years as it expands its trading operations there with an office opening this summer in London, a senior company executive said.

Aramco, the world’s biggest oil producer, is expanding its downstream, or refining and marketing, footprint globally by signing new deals and boosting the capacity of its plants to secure new markets"...

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Saudi Elenex 2019 ends successfully with $1.51bn solar PV projects in the pipeline
May 15, 2019

RIYADH — The 22nd edition of Saudi Elenex – the international trade exhibition for Electricity, Alternative Energy, Lighting, Power Generation, and Water successfully concluded amid strong international and local participation. The overwhelming participation witnessed by the 2019 edition of the event once again highlighted its pivotal role as an interactive platform that facilitates dialogue between VIPs and key decision makers from the public and private"...

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Abdul Latif Jameel Energy signs water development projects with Egypt, Bahrain
May 14, 2019

RIYADH — Abdul Latif Jameel Energy has stepped up its active participation in the Middle East’s water sector with two agreements expanding its presence in Egypt and Bahrain.

Almar Water Solutions, Abdul Latif Jameel Energy’s dedicated water solutions unit, formed a joint venture with HA Utilities (HAU), part of Hassan Allam Holding (HAH), to provide sustainable water infrastructure solutions to municipal and industrial clients across"...

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Oil gains as geopolitical risks tighten supply forecast
May 14, 2019

Brent crude prices rose on Monday, trading at $71.77 per barrel after recouping earlier losses, as supply concerns increased.

Brent crude futures by mid afternoon UAE time were up $1.15. US West Texas Intermediate (WTI) futures were at $62.49 per barrel, up 83 cents. Global supplies have tightened after stringent US sanctions on producers, disruptions of Russian oil flows in Europe and"...

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Shell Lubricants KSA, Al Jabr Trading in strategic partnership
May 11, 2019

DUBAI — Shell Lubricants Saudi Arabia and Al Jabr Trading Co., dealer of Kia Motors in KSA, celebrated the signing of a long-term strategic partnership to supply “Shell Helix” lubricants for Kia Motors enhanced with the world’s latest developments in lubrication technology.

The strategic partnership between Shell Lubricants Saudi Arabia and Al Jabr Trading Company"...

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Suez, Samsung, Orascom in race for big Saudi sewage plant
May 9, 2019

Saudi Arabia's Water & Electricity Company (WEC) said 10 global industry giants have been prequalified to bid for the development of an independent sewage treatment plant (ISTP) near the city of Taif in the Makkah province of Saudi Arabia.

Once the project gets completed, the Taif plant will boast a total treatment capacity of up to 270,000 cu m per day, said senior WEC officials.

It is being developed as part of Saudi Vision 2030"...

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Saudi Aramco said to mull US shale investment with Equinor
May 8, 2019

Saudi Aramco is weighing a potential investment in Norwegian oil company Equinor’s US shale operations in what could be the energy giant’s first ever overseas venture for gas exploration, according to people familiar with the matter.

The state-run company, known officially as Saudi Arabian Oil Co, is considering investing in Equinor’s Marcellus shale operations through"...

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Saudi Arabia's Taqa to acquire two North American energy firms by year-end
May 7, 2019

Saudi energy firm Taqa is set to acquire two North American energy firms by year-end, as part of a $1 billion investment plan over the next three years.

Around $1.2 billion has been allocated to acquire firms in the oil services, equipment manufacturing segments in the Mena region as well as North America.

'North"...

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