Monday 25 September 2017

Trescorp to launch oil storage and bunker services in Sohar

Singapore-based Trescorp will set up a new 45-hectare terminal in Sohar Port in Oman with an investment of $600 million for oil storage and bunker services. The new facility will feature six deep-water berths, with 25-m drafts, one of them capable of receiving VLCC oil tankers of


Seatrade event opens in Abu Dhabi; 100 firms join show

The three-day biennial Seatrade Offshore Marine & Workboats Middle East conference and exhibition (SOMWME) was inaugurated today (September 25) by  Sheikh Dhiyab bin Mohamed bin Zayed Al Nahyan, chairman of the Transport Authority and member of the Abu Dhabi Executive Council.


UAE to set up big energy projects in Caribbean region

The UAE has announced the first five projects under the $50 million UAE-Caribbean Renewable Energy Fund across Antigua and Barbuda, Bahamas, Barbados, Dominica, and St. Vincent and the Grenadines.    Announced in January 2017, the fund is a partnership betw


District cooling 'key to energy storage in future'

District cooling and tri-generation will play an increasingly vital role in the storing and integration of intermittent renewable energy sources in the future, said an engineering consultancy expert.   “We are all aware that renewables are on the way to becoming the do


90pc of energy companies seeking smart tech JV

Ninety per cent of energy companies from the EMEA and Asia-Pacific regions are actively seeking a smart energy technology joint venture or acquisition, said a report by global 100 law firm Pinsent Mason. Energy technology bolt-ons will underpin the future of the global energy ind


Dubai in bid to boost use of electric, hybrid vehicles

The Dubai Supreme Council of Energy has announced incentives to encourage community members to use electric and hybrid vehicles, and promote the use of sustainable transport, which will have a lower average annual energy consumption rate.  The announcement was made at a pres


DGCX’s Dubai India Crude Oil Futures named best new derivatives contract

The Dubai Gold and Commodities Exchange’s Dubai India Crude Oil Futures (DICO) contract has been recognised as the ‘Best New Derivatives Contract’ at this year’s FOW Global Investor Asia Capital Markets Awards 2017. The ceremony took place late last week at the


Dewa inks strategic deal with Dubai Airports

Dubai Electricity and Water Authority (Dewa) said it has signed a deal with Dubai Airports as part of its efforts to achieve sustainable development, and support the Smart Dubai initiative launched by Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al


UK to start $700m sukuk trial without Dana Gas

A high-profile London High Court trial over a $700 million Islamic bond will go ahead next week without Dana Gas, a UAE-based energy company, according to Financial Times. A civil trial between Dana Gas and its investors was due to open in the High Court this week but was dela


Saudi Arabia plans 80pc hike in gasoline prices

Saudi Arabia is considering raising domestic prices for gasoline and jet fuel by around 80 per cent from November, said a report.   Octane-91 grade gas price will increase from 75 halalas per liter to SR1.35 per liter, reported The Saudi Gazette, citing

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