<p>The world's top crude oil exporter Saudi Arabia has turned itself into a major power of refined fuels, offering customers millions of barrels of diesel and potentially triggering a price war with Asian competitors as its exports feed into a glut.</p>.... Read more »
Posted on : 7/16/2015
<p>India’s Bharat Petroleum Corporation Limited (BPCL), a major state-owned refiner, plans to invest around $4 billion to expand a refinery joint venture in India that is partly owned by Oman, a report said.</p>.... Read more »
<p>Dragon Oil's largest shareholder, Emirates National Oil Co Ltd (Enoc), said the oil producer no longer needed to pay a dividend to shareholders, stepping up pressure in its bid to take over the company.</p>.... Read more »
<p>Several government-backed entities in Dubai have signed contracts worth around $20 million to make environmental improvements to their real estate portfolios.</p>.... Read more »
Iran will return to the global oil market with maximum capacity once the sanctions against the country are lifted following Iran's nuclear deal with world powers, a deputy oil minister was quoted as saying on Tuesday. Iran and six major world powers reached a landmark nuclear deal on Tuesday, capping more than a decade of negotiations..... Read more »
Posted on : 7/15/2015
<p>OPEC is predicting a more balanced oil market in 2016, as growth of North American shale slows, according to news site Reuters. </p>.... Read more »
<p>Construction firm Carillion was awarded a contract worth $124m to build an operational base and accommodation complex for BP's Khazzan gas project. </p>.... Read more »
<p>Zawawi Trading Company (ZTC) Automotive and Oman Building and Contracting Company (OBCC) agreed upon a long-term deal following the delivery of a fleet comprising 20 Mercedes-Benz Actros heavy duty trucks.</p>.... Read more »
<p>Hotel construction in the Middle East and Africa (MEA) region rose by 44.3% in June 2015 compared to figures for June 2014, with 96,162 rooms in 366 hotels under construction during the month. </p>.... Read more »
The $32 billion (Dh117.52 billion) expansion of Al Maktoum International at Dubai World Central (DWC) will be completed by the first quarter of 2022, according to comments published in a Dubai Civil Aviation Authority (DACC) newsletter..... Read more »
Posted on : 7/14/2015