‘It may prove – I think ultimately it will prove – that all Egyptian interests will profit immensely by the new channel between the Mediterranean and the Red Sea"
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.
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.
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.
BG Group has witnessed its largest investor Capital Group offload its stake in the company over the past week. The American investment management firm sold the shares in phases.
GE Oil & Gas won two contracts from Petroleum Development Oman (PDO) for the supply, testing, installation and commissioning of a fleet of electric motor driven centrifugal compressors, a report said.
The fleet will be deployed across PDO's Saih Nihayda Depletion Compression Phase II, Kawther Depletion Compression Phase II, Yibal Khuff Depletion, Burhaan West and Fahud Gaslift Compression projects, added the dayofdubai.com report.