News / International
Egypt and Saudi Arabia to Meet January 5 to Discuss Investments
Egypt and Saudi Arabia will meet again on January 5th, as a part of the Egyptian-Saudi Coordination Committee, to discuss the details of $8b investments announced by King Salman Abdel Aziz in mid-December. The Saudi King has agreed to assist with Egypt’s energy needs and is expected to support Investments in energy, tourism, housing and agriculture.
Saudi Companies Project Production Costs Rise in 2016
Saudi Arabia's companies - Tasnee, SABIC, PetroRabigh and Yansab - have announced that their annual production costs would increase in 2016 following the latest government subsidy reforms that led to price hikes of fuel, electricity, and natural gas.
Iran to Build Rigs, Trade Technology with Russian Shipbuilder
Iranian shipbuilder, ISOICO has signed a Memorandum of Understanding (MoU) with Russian shipyard, Krasnye Barrikady (Red Barricades) for rig construction cooperation and technology transfer.
India Wins Discount on Qatari LNG Purchase
India's biggest gas importer, Petronet LNG has successfully renegotiated a deal to buy liquefied natural gas (LNG) from Qatar's Rasgas at a reduced price allowing the company to save about $605m a year in total.
DEWA Signs Disaster Management Partnership
Dubai Electricity and Water Authority (DEWA) have signed a Memorandum of Understanding (MoU) with the National Crisis and Emergency Management Authority (NCEMA) to enhance bilateral cooperation in the disaster management field through exchange in resources, skills, and knowledge.
Taqa Taps First North Sea Oil
Abu Dhabi's National Energy Company, Taqa announced it had tapped first oil from the Cladhan field in the UK North Sea.
Ghana Resolving Electricity Supply Deficit ahead of Elections
Ghana's government said it had added power generation capacity to its national grid in an attempt to fix electricity supply deficit that caused years of frequent blackouts hurting businesses. As frequent blackouts have also angered voters, the government pledges improvements ahead of the country's parliamentary and presidential elections to be held in late 2016.
OPEC: $10t in Oil Investment Needed, $250 from non-OPEC Countries
The Organization of Petroleum Exporting Countries (OPEC) has stated that $10t worth of investment in the oil and gas industry will be needed through 2040 in order to meet world’s energy needs, according to OPEC's World Oil Outlook 2015.
