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OIL AND GAS

SNC-Lavalin Wins Five-year Contract from Saudi-Kuwait Firm

July 17, 2018

 SNC-Lavalin Wins Five-year Contract from Saudi-Kuwait Firm

Al Khafji Joint Operations (KJO), a joint operations company comprising Aramco Gulf Operations Co. Ltd. and Kuwait Gulf Oil Co., has awarded an additional five-year framework agreement with SNC-Lavalin Engineers and Constructors, Inc. to provide international general engineering services, SNC-Lavalin reported Monday.

“It’s"... Continue Reading

OPEC only choice; the limit is reached

July 16, 2018

OPEC only choice; the limit is reached

To bring the oil prices down to an acceptable “White House” level, which is less than $80 per barrel, the USA administration must ensure all oil-producing countries including OPEC member states continue to maintain the current input.

This is prov i d e d Venezuela, Libya, Angola and Nigeria are troublefree with no further"... Continue Reading

EQUATE recognized for developing top Middle East treasury solution

July 16, 2018

EQUATE recognized for developing top Middle East treasury solution

Integrated financial systems have earned EQUATE Petrochemicals Company, a global producer of petrochemicals, the award for “Best in Class Treasury Solution in the Middle East” at the Adam Smith Awards 2018 organized by Treasury yesterday.

Through the efforts of EQUATE’s treasury, the world’s second largest"... Continue Reading

Oil production in neutral zone to resume in December

July 16, 2018

Oil production in neutral zone to resume in December

Oil production in the neutral zone between Kuwait and Saudi Arabia will resume in December following a four-year suspension, well-informed oil sources said. Notably, Riyadh had suspended oil production in Khafji for environmental reasons. The suspension has cost Kuwait up to $10 billion in losses, according to the parliament’s budgets committee, which suggested that the oil in Khafji ‘migrated’"... Continue Reading

Kuwait's economy set to rebound on higher oil output and government spending

July 14, 2018

Kuwait's economy set to rebound on higher oil output and government spending

Kuwait's economy is set to recover this year, after shrinking in 2017, on the back of increased government spending and an expected rise in oil production in the coming months.

Gross domestic product (GDP) is expected to accelerate to 2.5 per cent this year after falling 2.9 per cent in 2017 as OPEC shifts its policy towards"... Continue Reading

Electricity consumption peaked July 9

July 12, 2018

Electricity consumption peaked July 9

Undersecretary of Ministry of Electricity and Water Eng Mohammad Boushahri revealed that consumption of electricity on Monday, July 9 was 13,790kw, and the temperature that day was 49 degree Centigrade. In a press release issued by Eng. Boushahri on the sideline of his meeting with the Union of Consumer Cooperative Societies which was aimed at finding solutions for the obstacles facing cooperative societies,"... Continue Reading

Kuwait, China sign crude oil joint marketing deal

July 12, 2018

 Kuwait, China sign crude oil joint marketing deal

Kuwait Petroleum Corporation (KPC) signed on Tuesday a cooperation agreement with China's ShanDong Refining and Chemical Group to market Kuwaiti crude oil. The agreement was signed by KPC's CEO and Deputy Chairman of the Board Nizar Al-Adsani and ShanDong's Chairman of Board of Directors Li Xiangping.

The deal, which"... Continue Reading

Sumitomo SHI FW Wins Contract for Biomass CFB Boiler Island

July 11, 2018

Sumitomo SHI FW Wins Contract for Biomass CFB Boiler Island

Sumitomo SHI FW (SFW) announces today that it has been awarded a contract by GS Engineering and Construction for design and supply of the Dangjin Biomass No. 2 Power Plant Project Boiler Island. The new boiler island will be located next to the Dangjin Biomass No. 1 Power Plant which was delivered by SFW in 2014. Commercial operation of the new plant is scheduled for 2021. SFW will design and supply the 100 MWe CFB steam generator and auxiliary equipment for the boiler island, including a cold end SCR and baghouse for flue gas cleaning. The steam generator will be designed to burn wood pellets, wood chips and palm kernel shells, while meeting applicable environmental regulatory requirements. Tomas Harju-Jeanty,...... Continue Reading

Schneider Electric moves up in Gartner ranking

July 10, 2018

Schneider Electric moves up in Gartner ranking

Schneider Electric, a leader in digital transformation of energy management and automation, announced that it has been ranked #12 in Gartner’s 2018 Supply Chain Top25.

The ranking was revealed by Gartner, at its recently concluded annual Supply Chain Executive Conference, which was held in Phoenix, US.

Mourad Tamoud, executive vice president, global supply chain operations,"... Continue Reading

Kuwait crude price around $65-75 pb until end of ’18

July 10, 2018

Kuwait crude price around $65-75 pb until end of ’18

Kuwait crude price to remain in the range of $65-75 pb until the end of 2018, an oil expert said Sunday. In an interview with KUNA, oil expert Dr Abdul-Samie’ Behbehani projected the Brent crude prices at a range between $70-80 pb, pointing out that there are different factors affecting the prices until 2020.

He noted that"... Continue Reading

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