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OIL AND GAS

Bondholders push back on Dana Gas sukuk invalidation claims in London court

September 26, 2017

Sharjah-based Dana Gas sought to have US$700 million worth of Islamic bonds declared unlawful so it could avoid repaying investors next month, London’s High Court heard on Monday, a charge the company has denied.

The company’s claim that a huge 2013 financing deal was invalid owing to subsequent changes in Islamic financial"... Continue Reading

Ruling in increase of fuel price by government on Thursday

September 26, 2017

The Court of Cessation Monday decided to adjourn to next Thursday the ruling on the appeal filed against the government’s decision to increase the fuel prices. Earlier, the Court of Appeals had overturned the verdict issued by the lower court to suspend the Cabinet’s decision which was issued on 1 August, 2016.

During"... Continue Reading

Arzan Wealth Delivers Strong Results with Sale of VW Warehouse in Germany

September 26, 2017

Arzan Wealth Delivers Strong Results with Sale of VW Warehouse in Germany

Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised on the successful sale of the German warehouse used as a spare parts storage and the distribution center by Volkswagen AG, Germany (“VW Property”).

"... Continue Reading

Sintavia and TRUMPF Announce Strategic Alignment

September 26, 2017

Sintavia and TRUMPF Announce Strategic Alignment

(AETOS Wire)-- Sintavia, LLC, the global independent leader for metal Additive Manufacturing (“AM”) services, and the TRUMPF Group, a leading high-technology company offering production solutions in the machine tool and laser sectors, today announced an agreement to work together to accelerate the penetration of TRUMPF TruPrint metal printers within the"... Continue Reading

ABB And Northvolt Partner for Europe’s Largest Battery Factory

September 26, 2017

ABB And Northvolt Partner for Europe’s Largest Battery Factory

(AETOS Wire)-- ABB and Northvolt have signed a Memorandum of Understanding (MOU) for a wide-ranging supply and technology partnership, including products and services for Northvolt’s state-of-the-art lithium-ion battery factory and close collaboration on development of battery solutions and R&D activities. ABB Technology Ventures (ATV) will support the initial"... Continue Reading

Deeper the oil cuts, better news for shale producers – ‘keep prices at acceptable level’

September 25, 2017

There is no escape from this harsh reality — lesser oils entering the markets will mean better news for USA shale producers and further strengthening of the oil barrels.

Of course, higher cuts in crude oils will lead to oil prices stabilizing at $50 a barrel – the best performance for oil since 2014. It is good news"... Continue Reading

ABB to Acquire GE Industrial Solutions

September 25, 2017

ABB to Acquire GE Industrial Solutions

  • Acquisition will strengthen ABB’s #2 global position in electrification
  • Non-core GE business with significant value creation potential within ABB
  • Expands ABB’s access to the North American market through deep customer relationships, large installed base and extensive distribution networks
  • Long-term usage of GE brand agreed
  • Purchase price of $2.6 billion
  • Potential for annual cost synergies of approximately... Continue Reading

Indian firm wins $265m deal to build Kuwait oil pipeline

September 23, 2017

Larsen & Toubro’s hydrocarbon division has bagged a major pipeline contract with a value close to 1,700 crore rupees ($265 million) from Kuwait Oil Company.

The contract is for engineering, procurement and cconstruction of a new pipeline from North Kuwait to Ahmadi, the company said in a statement.

The completion of the project is scheduled in the third quarter of 2020,"... Continue Reading

Kuwait Faces New Oil Leak

September 20, 2017

Major oil exporter Kuwait is dealing with another crude oil spill off its southern coast, state news agency KUNA said on Monday, the latest in a series of unexplained leaks in the Persian Gulf Arab state in recent months.
KUNA said the latest spill has been detected in Ras al-Zour area, where Kuwait National Petroleum Company is building the Middle East’s largest oil refinery with a capacity"... Continue Reading

Kuwait crude prices to hover around USD 50 pb in short run

September 20, 2017

Two oil experts expected Kuwait crude prices to remain in the range of USD 50 pb in the coming few months based on the market outlook and the supply/demand mechanism.
A range of factors contributed to the rising slant in prices and stability of the oil market, foremost among which is the commitment of the major producers to the last November deal, Mohammad Al-Shatti and Dr."... Continue Reading

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