Moody’s Investors Service has lowered its underlying credit rating of Abu Dhabi National Energy Company, known as Taqa, because of its weakening financial position.
Global maritime regulators have found no evidence of price fixing in freight rates among the biggest players in container shipping, a top U.S. official said following a meeting that came as cargo shipping prices on some of the world’s busiest trade routes collapsed for the second straight week.
The first Maritime Standard Ship Finance & Trade Conference, organised by The Maritime Standard (TMS), will take place this year on 29-30 November at Park Hyatt Hotel in Abu Dhabi. The event, which is endorsed by Federal Transport Authority – Land & Maritime UAE, and being hosted by Abu Dhabi Ports, will feature top level speakers from the worlds of finance, banking, ports, shipping and maritime law.
Trade between China and Dubai reached 34.3 billion (US$5.5 billion) in the first nine months of 2014, a 27% increase over the same period last year, according to statistics from UK-based economics research firm Oxford Economics, as cited in a report by online news portal Yicai.
Iraq, Opec's second-largest producer, has approached PetroChina and ExxonMobil about investing in a multi-billion-dollar project to boost output from its smaller southern oilfields, a senior Iraqi oil official said.
Kuwait is expected to launch its $28-billion Al-Zour complex involving a 615,000-bpd (barrels per day) refinery and a massive petrochemical plant in February, a report said.
Jordan’s National Electric Power plans to sign a $400 million contract for a 480MW power plant with Saudi Arabia-based Acwa Power, a report said.
The new plant will replace the Hussein Thermal Power Station in Aqaba, Ghaleb Maabreh, secretary general of Jordan’s Ministry of Energy and Mineral Resources, was quoted as saying in a Bloomberg report.
Chevron Corporation’s subsidiary, Chevron U.S.A. Inc., has signed a non-binding liquefied natural
A group of Chinese investors has agreed to buy Calgary-based Long Run Exploration Ltd. in a deal worth about $770 million.