• Gunal wins $185m construction contract on Dubai Water Canal.
• SNC-Lavalin wins Zirku crude processing expansion contract.
• UK’s Turner & Townsend wins Abu Dhabi airport contract.
• Dubai leads growth in hotels sector.
• UAE credit growth hits highest level since financial crisis.
• Rail awards push up value of Top 100 Middle East Projects.
• GCC gas demand to rival Northwestern Europe by 2030.
• Middle East contracts awarded: September 2013 – Over $8bn awarded in September in the Middle East.
• Petrofac scores biggest gain in GCC top 10 oil and gas contractor rankings – UK-based firm moves to second place after string of UAE wins.
• DIFC planning massive real estate expansion.
• International Finance Corporation looks to Gulf for Middle East growth.
• RTA prepares to tender more Dubai Water Canal contracts.
• Total building offshore chemical oil recovery plant in Abu Dhabi.
• Abu Dhabi to refinance sewerage scheme.
• Abu Dhabi prepares to receive onshore concession bids Shuweihat 3 IPP.
• Shah Gas Development: Offsite & Utilities (Gas Process Plant).
• Ruwais Refinery Expansion Project: Process Package 1 (Crude Distillation Unit).
• Prequalification starts for W Hotel on Palm Jumeirah.
• Contractors approached for Dubai’s Jewel of the Creek.
• Sonatrach buys Petroceltic’s gas field stake for $180m – State-run oil company Sonatrach has purchased Irish exploration firm Petroceltic 18.3 per cent stake in an Algerian gas field for US$180 million.
• Base Oil Group I prices in UAE Market seems to be stable.
• Middle East automotive marke t projected to grow 20% yearly over next five years.
• Emarat Discusses Development of Cooperation with ExxonMobil.
• Fujairah terminal project moves on to third phase – Second phase has added 235,000 cubic metres of storage to the oil facility.
• Middle East Lubricant producers have obtained internationally recognized certifications and licenses.
• Restrictions to STS operations at offshore anchorage.
STS operation at Fujairah Offshore Anchorage Area is restricted to tankers classed under IACS members and subject to complying with below given conditions:
1. Multiple STS Operations are not permitted to tankers under non bunkering companies and such tankers must leave from Fujairah after STS operation (tankers under companies holding valid Bunkering License from the Government of Fujairah is exempted).
2. Valid STS plan and STS Hose Test Certificates need to be submitted along with Ship’s Certificates as per Notice of Mariners No. 148.
3. Certificate of Origin & Bill of Lading of cargo need to be submitted in advance prior STS operation.
4. Vessel must hold valid Last Port clearance.
5. Confirmation from ship master that his ship did not conduct STS cargo operation at High Seas.
• IK Investment Partners to acquire DNV Petroleum Services from Det Norske Veritas
Funds managed by IK Investment Partners (IK) have entered into an agreement with the Norwegian foundation Det Norske Veritas (DNV), to acquire its subsidiary DNV Petroleum Services (DNVPS), a global leader in fuel management services. Financial details for the transaction were not disclosed.
• Loading delays push up Rotterdam HSFO bunker market: trade
1. High sulfur bunker fuel prices at the port of Rotterdam have soared against high sulfur fuel oil this week, amid loading delays caused by shortages of supply, sources said Wednesday.
2. Traders said Wednesday that the market is experiencing a shortage of HSFO after a buying spree in August and September when deliveries from Russia slowed down, adding that about 40 barges are waiting to load at the port of Rotterdam.
3. Prompt HSFO bunker deliveries are being postponed until the weekend, with most suppliers of the fuel only quoting from October 4. Some barges are being redirected towards Antwerp, where there has been slightly more bunker fuel available for loading, sources said.
• Occidental looks to sell 40% stake in Mideast unit for $8b – SAN FRANCISCO Occidental Petroleum Corporation is looking to sell 40 per cent of its Middle East operations for $8 billion on Friday, as Oxy seeks investment in the unit as part of a broader plan to split up the company.
• Base Oil Group II availability in Middle East from Korea and Taiwan may increase in couple of weeks after a long lull.
• Exxon Mobil’s gas turbine oil Mobil DTE 932 GT reduces the risk of varnish.
• TUV Rheinland wins contract for Dubai metro.