DP World, the container terminal operator in Kochi Port, has turned down the Centre’s move to carry out a performance audit by the Comptroller and Auditor General (CAG) at Vallarpadam terminal.
The UAE’s investments in the maritime industry are expected to reach $66 billion (Dh242 billion) in the next three years, according to industry estimates released at the Dubai Maritime Summit kicked off on Monday.
In a bid to support President Joko “Jokowi” Widodo’s lofty maritime axis plan, the Financial Services Authority (OJK) has instructed banks to increase credit for the sector by 50 per cent to 128 trillion rupiah (S$13.3 billion) this year, an official says.
Even with low prices, oil and gas sector will generate much needed cash to fund other infrastructure projects.
Saudi Aramco , the kingdom's state oil giant, is seeking to borrow $4.7 billion from banks to refinance capital used to build a refinery in collaboration with China's Sinopec , three sources with knowledge of the matter said on Tuesday.
Western Australia will see a massive increase in offshore gas activity in 2020, with Woodside Petroleum greenlighting phase two of the Greater Western Flank Project (GWF-2).
Investors around the world have seen $240 billion wiped off the value of oil companies in the week since OPEC sent crude prices plunging to a seven-year low by abandoning its output limit.
BP Egypt has announced today the completion of its acquisition of 22.75 per cent in the North Alexandria Concession and 2.75 per cent in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel AG.