July 17, 2018

Parliament approves report to exempt domestic gas from customs...

The Parliament on Monday approved the report of the Finance Committee on the government's request to exempt domestic gas from customs duties, taxes and commission of the gas company.

The parliament recommended the government side to stop the work of the previous mechanism"...

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July 12, 2018

Will crude oil prices hit $120 per barrel?

Oil prices could jump steeply to cross $120 per barrel in a not-to-be ruled out scenario of zero Iranian exports combined with Opec's lack of preparedness to offset the huge supply deficit, market analysts said.

Iran,"...

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July 12, 2018

Higher oil prices and output to boost public spending and...

Oil prices are forecast to average above $70 (Dh257) this year, despite the potential increase in output boosting the prospects of higher public spending that is will drive both oil and non-oil gross domestic product (GDP) growth this year, according to economists.

The"...

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July 11, 2018

Brent price forecast revised to $73 in H2: Barclays

Barclays, a British financial services company, has revised its Brent price forecasts in the second half (H2) of 2018 and 2019 to $73 and $71, respectively, due to a lower supply estimate for Libya and Iran.

Yet bulls ought to beware of Saudi Arabia’s and Russia’s"...

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July 11, 2018

Sumitomo SHI FW Wins Contract for Biomass CFB Boiler Island...

Sumitomo SHI FW (SFW) announces today that it has been awarded a contract by GS Engineering and Construction for design and supply of the Dangjin Biomass No. 2 Power Plant Project Boiler Island. The new boiler island will be located next to the Dangjin Biomass No. 1 Power Plant which was delivered by SFW in 2014. Commercial operation of the new plant is scheduled for 2021. SFW will design and supply the 100 MWe CFB steam generator and auxiliary equipment for the boiler island, including a cold end SCR and baghouse for flue gas cleaning. The steam generator will be designed to burn wood pellets, wood chips and palm kernel shells, while meeting......

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July 10, 2018

Teksan chooses FPT Industrial to supply generators

Turkey-based Teksan Generator has chosen Italy’s FPT Industrial for a long-term partnership to supply it with the full FPT Industrial Power Generation G-Drive line-up.

Teksan Generator is an engineering and technology company that designs and produces 100 per cent domestic"...

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July 10, 2018

Oil prices gain on supply concerns in Iran, Libya, Canada...

Oil prices gained on Monday, with U.S. crude ending a choppy session higher on expectations for a Canadian production outage lasting until September, while global benchmark Brent gained on looming sanctions on Iran and falling output in Libya.

U.S."...

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July 9, 2018

Economic Growth Driven by Oil & Gas and Non-oil Industries...

The government of Iraq is committed to implementing a stable macroeconomic framework driven by significant growth potential in the oil and gas sector as well as non-oil industries. A potential leader in emerging markets, Iraq offers unlimited investment opportunities and requires over USD"...

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July 8, 2018

BP in lead to acquire BHP’s US onshore shale assets...

BP is in the lead to acquire the US onshore shale oil and gas assets of BHP Billiton Ltd after submitting an offer worth well in excess of $10 billion, people familiar with the matter said on Friday.

The move represents a big bet by BP on US oil and gas production at a time"...

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July 5, 2018

Brent crude edges up as inventories in US drop

Brent crude oil edged up on Wednesday after a second successive drop in US crude inventories driven by an outage at the Syncrude Canada oil sands facility, which usually supplies US. Brent crude futures were up 7 cents at $77.83 a barrel by 0915 GMT, while US crude futures were down 17"...

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