News / International
Saudi SABIC Records Cost Slump, Low Sales
Acting Chief Executive of Saudi Basic Industries Corp (SABIC) announced that the giant company has recorded an 18% slash in its Q2 costs of 2016, down from the first three months of the year.
Algeria’s New Economic Model to Counter Oil Revenues Slump
OPEC member Algeria adopted a new economic growth model, as part of the North African nation's efforts to diversify its economy, which has been dependent on hydrocarbons revenues.
BP Declares 44% Drop in its Profit in Q2 2016
BP reported that its profit for the second quarter of 2016 has dropped by 44% to $720m, compared with $1.3b for the second quarter of 2015.
Siemens Delivers First Saudi-Made Gas Turbines
Technology major Siemens has delivered the first shipment of its locally produced gas turbines to the Integrated Gasification Combined Cycle (IGCC) power plant in Jazan, Saudi Arabia.
South African Energy Workers Call for Strike over Wages
The Chemical, Energy, Paper, Printing, Wood and Allied Workers Union (CEPPWAWU) said that South African energy workers plan to strike over wages at the end of July. The strike would affect the crude oil refineries and fuel depots.
Japan to Lend Iraq $2.1b to Develop Basra Oil Refinery
A top Iraqi official announced that Japan will lend an amount of $2.1b to Iraq, to be allocated for developing Basra refinery.
Zimbabwe: Hwange Partner Invests $7m in Coal Waste Power Plant
Coal Mining giant Co-Ash Resources (CAR) pledged an amount of $7m towards the pilot stage of its coal waste fired power plant in Zimbabwe that would generate 1,000 MW of energy.
Mozambique: Eni to Conclude Major Offshore Gas Deal
Long-delayed offshore gas project with Italy’s Eni could be approved within months, sparking investments with the potential to transform Mozambique, one of the world’s poorest countries, into a major energy player.
