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UAE Business, Oil, Gas and Energy News May 2015

Posted by: Chemist Posted on: May 29, 2015 , , , ,

Abu Dhabi oil’s pivot to Asia
18 May 2015 | By Mark Watts
South Korea takes first stake in major oil concession as part of a growing interest of Asian companies in UAE production

Emirates airline
Emirates rises on falling oil
12 May 2015 | By Richard Thompson
Strong financial performance lifts carrier’s mood as it seeks to tackle head on the accusations of unfair government support by US rivals

Projects due for award in next 12 months
Projects market loses its momentum
12 May 2015 | By Mark Watts
While essential schemes are still likely to move forwards, the drop in oil prices means projects that are more speculative could be put on hold

Flanagan: I knew Emirates was going to grow
Obituary: Maurice Flanagan
12 May 2015 | By Austyn Allison
The former executive vice-chairman of Emirates airline talked to Austyn Allison in January about the carrier’s spectacular growth through the years. He passed away on 7 May

Top 10 contractors and EPC spend by country
Oil price drop reshapes top 10 contractors
11 May 2015 | By Kevin Baxter
The decline in oil prices has led to a slowdown in project spending in the region, meaning MEED’s annual contractor survey has seen a big shake up this year

Forum: Buamim leads the delegation in Bratislava
Interview: Hamad Buamin, President and CEO, Dubai Chamber
5 May 2015 | By Colin Foreman
The Czech and Slovak republics have been identified as target markets for trade with Dubai. Colin Foreman reports from Prague and Bratislava

Sultan bin Saeed al-Mansouri, UAE Economy Minister
Interview: Sultan bin Saeed al-Mansouri, UAE Economy Minister
5 May 2015 | By Colin Foreman
The fall in oil prices has reinforced the UAE’s commitment to economic diversification

UAE infographic
UAE still exposed to crude market
5 May 2015 | By Mark Watts

Dubai contract awards
Dubai counters market inertia with new projects
4 May 2015 | By Colin Foreman
As the emirate’s property market slows down, government clients have been busy driving forward projects, led by Expo 2020-related schemes

Construction
Contractors push for more design-and-build schemes
4 May 2015 | By Robert Jones
International contractors want more clients to award design-and-build deals for their major projects

Dubai Business, Oil, Gas and Energy News Update

Posted by: Chemist Posted on: May 3, 2015 , , ,

Nakheel plans to build resort
3 May 2015 | By Hossam Abougabal
Local developer plans four-star hotel on Deira Islands in Dubai

Dubai confirms metro briefing
3 May 2015 | By Colin Foreman
Route 2020 is the most eagerly awaited Expo project

Dubai approaches contractors for museum
3 May 2015 | By Colin Foreman
Futuristic building will be constructed on Sheikh Zayed Road

Acwa Power group submits lowest Dubai coal project tariff
30 April 2015 | By Andrew Roscoe
Low bidder also submitted alternative price for larger capacity plant

Nakheel profits more than double
30 April 2015 | By Colin Foreman
Development business performs strongly in first quarter of 2015

Dubai tenders Expo contracts
30 April 2015 | By Colin Foreman
Development work at Jebel Ali site is gathering pace

Faithful+Gould appointed for Atlantis project management
29 April 2015 | By Colin Foreman
Contractors are bidding for the main construction contract

Bidders finalise Dubai coal project submissions
29 April 2015 | By Andrew Roscoe
Bids are due on 30 April

Tunisia gives Dubai developer ultimatum
29 April 2015 | By Philippa Wilkinson
Developer told to start works or lose prime Tunis plot

Dubai appoints consultants for metro study
28 April 2015 | By Colin Foreman
Team given study as a variation to existing work

Tall towers make a comeback in Dubai
28 April 2015 | By Colin Foreman
High-rise schemes stalled following the global financial crisis

Dubai approaches contractors for world’s tallest commercial tower
28 April 2015 | By Colin Foreman
The Burj 2020 will be at least 541 metres tall

Dubai aims to cut electricity demand by 30 per cent
27 April 2015 | By Philippa Wilkinson
Dubai sets out sustainability strategy

Dubai retenders solar innovation centre
27 April 2015 | By Philippa Wilkinson
Bids did not meet expected quality

Dubai tenders new Atlantis hotel
27 April 2015 | By Colin Foreman
New property will be built on Palm Jumeirah

Mediclinic plans new Dubai hospital
27 April 2015 | By Philippa Wilkinson
Completion of Al-Quoz health care facility planned for 2018

Dubai plans metro lines for 2020 and beyond
27 April 2015 | By Colin Foreman
New Expo link first of new rail links planned by RTA as it enhances infrastructure

Dubai to brief firms on new metro project
26 April 2015 | By Colin Foreman
New line will connect to the Expo 2020 site

Brookfield Multiplex wins Lapita theme park hotel
26 April 2015 | By Colin Foreman
Canadian contractor joins other firms working on development

Abraaj forms partnership for Latin America and Caribbean
26 April 2015 | By Colin Foreman
Venture will make equity investments in high-growth companies

UAE focuses on boosting exports
22 April 2015 | By Colin Foreman
Government seeks a better balance with trading partners

Mashreq reports profit rise
20 April 2015 | By Rebecca Spong
Bank has supported key projects in the Gulf

Contractor wins Dubai exhibition halls
20 April 2015 | By Colin Foreman
Nine-month contract will increase space to over 122,000 square metres

Emaar Misr records profit jump
20 April 2015 | By Hossam Abougabal
Emaar Misr reports an increase in profits and revenues

Al-Fattan plans to build more Dubai towers
20 April 2015 | By Colin Foreman
Scheme will be built close to Sheikh Zayed Road

Chairman departure means more uncertainty for Arabtec
19 April 2015 | By Colin Foreman
Khadem al-Qubaisi will leave the construction company after not being nominated for the board

Emirates signs $9.2bn deal for Rolls-Royce engines
19 April 2015 | By Mark Watts
Airbus A380 engines contract is largest ever order for UK-based group

Second phase planned for Dubai wastewater plant
19 April 2015 | By Andrew Roscoe
Planned expansion of existing Jebel Ali sewage treatment plant will more than double capacity

Nshama awards earthwork deal for Dubai project
16 April 2015 | By Hossam Abougabal
UAE developer lets $6m deal

Emaar predicts $1bn net profit for 2015
16 April 2015 | By Hossam Abougabal
Local developer concludes annual general meeting with profit projections and 15 per cent capital equivalent for shareholders

Two tenders launched for Downtown Jebel Ali
16 April 2015 | By Hossam Abougabal
Local developer invites contractors to submit bids for work on Downtown Jebel Ali project

Bid deadline postponed for Dubai hospital construction
15 April 2015 | By Colin Foreman
New healthcare centre will be built at Dubai Silicon Oasis

Dubai bank reports 34 per cent rise in profits
15 April 2015 | By Rebecca Spong
Dubai Islamic Bank continues to lower bad loan ratio

Deutsche Bank branch fined in Dubai
15 April 2015 | By Rebecca Spong
Dubai Financial Services Authority penalises German lender

Cayan Group announces plans for Dubai and Riyadh
15 April 2015 | By Hossam Abougabal
Local developer announces projects in Dubai and Riyadh

Deyaar reports profit increase
15 April 2015 | By Hossam Abougabal
Local developer announces an increase in net profits as it seeks necessary approvals for AED3.5bn development

Fall in Middle East outwards property investment
15 April 2015 | By Philippa Wilkinson
GCC fails to capture global real estate inflows

Drake & Scull wins Dubai contract
13 April 2015 | By Hossam Abougabal
Local firm awarded contract for mixed-use development

Dubai projects push on despite property price fall
13 April 2015 | By Colin Foreman
Emirate’s ruler has approved a raft of new construction projects

Dubai plans power plant expansion
13 April 2015 | By Philippa Wilkinson
Feasibility study tendered

Dubai seeks interest for Expo metro
12 April 2015 | By Colin Foreman
Route 2020 will be 15 kilometres long

Foreseeing Value of US$5.1b for Oil and Gas Markets by 2019

Posted by: Chemist Posted on: April 13, 2015 , ,

Global cloud-based applications in oil and gas market is expected to grow from US$2.7bn to US$5.1bn with CAGR of 13.6 per cent by 2019, according to new report by MarketsandMarkets

The adoption of cloud applications is estimated to be high in North America and Europe market, but the adoption rate is expected to be high in emerging regional markets of Asia-Pacific (APAC), Middle East and Africa (MEA) and Latin America. The North America and Europe market sizes are estimated to be high as the cloud adoption rate is high in these regions whereas APAC, MEA and Latin America have shown significant opportunities for cloud adoption, which will in future give rise to cloud applications market.
The reason behind significant growth trend of cloud-based solutions in oil and gas industry is a massive rise in the demand of crude oil and natural gas and their derivative products due to industrialisation and increase in standard of living, noted the report.
Cloud-based applications are the software solutions provided by a number of service providers available in the IT market space. These cloud-based applications are hence also termed as the Software-as-a-Service (SaaS) model applications.
The cloud-based applications market is broadly classified into applications types such as analytics, customer relationship management (CRM), finance and accounting, content management, collaboration, ecommerce, human capital management (HCM), enterprise resource planning (ERP), project and portfolio management (PPM), procurement and distribution, legal and risk management and few other industry specific applications.

Kuwait Oil, Gas and Energy Update March 2015

Posted by: Chemist Posted on: April 7, 2015 , ,

Drake & Scull Leisure & Tourism Project of the Year – Kuwait

24 March 2015
The Avenues Grand MosqueKuwait Small Project of the Year

24 March 2015
Structural renovation of the Grand Mosque Subiya Hyder Consulting Transport Project of the Year – Kuwait

24 March 2015
Construction and maintenance of roads, bridges, storm water drainage, sewerage and other services for Subiyah Highway package 3 Petrochemicals EPC contract awards by country Kuwait ripe for expansion

19 March 2015 | By Wil Crisp
Progress on refinery megaprojects means the country can go ahead with plans to integrate petrochemicals facilities Gulf projects index
Middle East contracts awarded: February 2015

1 March 2015
Over $8bn of contracts awarded in February in the Middle East Kuwait simplifies investment laws Kuwait simplifies investment laws

24 February 2015 | By Philippa Wilkinson
New, transparent executive regulations and fast decision-making are hoped to facilitate an increase in foreign direct investment The overhaul of the refining sector is critical to Kuwait meeting its 2020 downstream targets Refining sector to get overhaul

24 February 2015 | By Wil Crisp
The newfound momentum in downstream contract awards is due to continue in 2015, but falling oil prices and land disputes could yet derail plans Kuwait nominal GDP Kuwait approves investment plan

24 February 2015 | By Andrew Roscoe
Kuwait has approved a new five-year development plan that is similar in ambition to its predecessor despite the plunge in oil prices. But this time it must deliver Kuwait has yet to find a solution for its stateless Bedouins Dealing with the stateless population

24 February 2015 | By Andrew Roscoe
Kuwait has yet to find a solution for its stateless Bedouins, who still lack access to healthcare, education and travel Kuwait desalination market Fresh confidence in PPP market

24 February 2015 | By Philippa Wilkinson
There is growing optimism in Kuwait’s projects market, with the newly established Kuwait Authority for Partnership Projects reviving power and water projects and taking responsibility for rail schemes

Egypt Oil, Gas and Energy Update March 2015

Posted by: Chemist Posted on: April 7, 2015 , , ,

Egypt announces discovery in Western Desert

5 April 2015 | By Wil Crisp
Recoverable hydrocarbons include both oil and gas Mixed-use development Egyptian developers sign agreement

2 April 2015 | By Hossam Abougabal
New mixed-use project announced near Cairo Road in Ethiopia Egyptian firms encouraged to enter Ethiopian market

2 April 2015 | By Hossam Abougabal
Egypt and Ethiopia meet on the sidelines of regional summit and agree to encourage better relations between the two countries Egypt oil
BG’s Egypt production drops by 44.6 per cent

2 April 2015 | By Wil Crisp
Company says future project investments in Egypt remain uncertain Egypt construction boom Hassan Allam predicts project boom in Egypt

1 April 2015 | By Wil Crisp
Egyptian contractor says it is well positioned to take advantage of growing project market Oil storage Mashreq tank terminal construction to start this year

31 March 2015 | By Wil Crisp
Partner sought to invest in the Egyptian hub project Cement Qalaa looks to invest in Egyptian cement

31 March 2015 | By Wil Crisp
Managing director says company is expecting increased demand Mall of the Emirates Majid al-Futtaim reaffirms expansion plans

29 March 2015 | By Hossam Abougabal
Local mall developer aims to double its business An armed man walks on the rubble of houses destroyed by an air strike near Sanaa airport on 26 March. Saudi Arabia and Gulf region allies have launched military operations including air strikes in Yemen Saudi allies deploy warplanes against Yemen’s Houthis

26 March 2015 | By Wil Crisp
UAE, Kuwait, Bahrain, Qatar and Jordan commit 76 fighter jets Mining Slow progress frustrates Egyptian miners

26 March 2015 | By Wil Crisp
Egyptian Mineral Resources Authority yet to make decision Nile river Egypt signs Nile dam deal with Ethiopia and Sudan

23 March 2015 | By Andrew Roscoe
The Great Ethiopian Renaissance Dam has soured relations between the states since construction work started in 2013 Egypt’s Qalaa Holdings on track to profitability Qalaa Holdings on track to profitability

23 March 2015 | By Rebecca Spong
Egyptian firm raising fresh liquidity to fund growth Egyptian Exchange Egyptian Exchange begins to attract state-owned firms

23 March 2015 | By Rebecca Spong
Misr Fertilisers applies to list on EGX Steel production Steel production up 7 per cent in February

23 March 2015 | By Mark Watts
Iran and Saudi Arabia’s steel output help boost Middle East steel sector Power generation mix 2022 Acwa Power submits only bid for Egypt IPP

22 March 2015 | By Andrew Roscoe
Dairout independent power project is first tendered IPP since late 1990s

Qatar Oil, Gas and Energy Update March 2015

Posted by: Chemist Posted on: April 7, 2015 , , , ,

Rail spearheads transport plans
Qatar aims to revamp its transport links to counter congestion

Qatar’s oil dilemma
It’s LNG and not oil that is Doha’s core business and it should be concentrating its efforts there

When the offshore North Field, the world’s largest non-associated gas field, was discovered in 1972 it was met with acute disappointment in Qatar because they had been really hoping for oil.

In the early 1970s oil was king and gas was nothing more than a by-product. Qatar would not develop the world’s largest liquefied natural gas (LNG) export infrastructure for almost 40 years, which gives clear indication of how little respect was afforded to gas back then.

But we are not in the 1970s anymore and the global oil market is evolving in such a revolutionary way that could make the mature, low-yield oil fields of the Middle East completely obsolete by the end of the decade.

The vast majority of the sector’s research and development is now focused on driving innovation in unconventional hydrocarbons and this is what could sound the death knell for some of Qatar’s low-producing oil fields.

Investing in new surface facilities, drilling new wells and rehabilitating ageing infrastructure costs a fortune and with oil prices seemingly content to sit at $50-$60 a barrel it is making investment decisions easy.

There is no decent argument to be had for spending $3bn on an oil field rehabilitation that can only sustain production of 100,000 barrels a day for five years. If anything the probability of oil prices going down is higher than them rising at this point in time.

All it would take is a breakthrough in drilling and fracking technology to witness global oil shale production skyrocket. If this happens oil prices will depress even further and start to make the future of medium-yield oil fields look uncertain.

There have been no announcements regarding any of Qatar’s upstream oil projects and there could still be investment in maintaining current production levels for as long as possible before bowing to the inevitable and allowing them to slowly deplete.

Qatar Petroleum knows that in uncertain times you concentrate on your core strengths. The fact is that LNG fulfils that criteria for Doha and if there is to be any significant investments anywhere, it should be there.

Qatar to 2022 and beyond
Fifa confirms the Qatar World Cup Finals are to be held in November 2022 to avoid the Gulf’s heat and humidity

Gulf aviation hub to be largely unchallenged
Demands from US airlines have been raised in Washington

Doha metro takes shape
The network is planned to last beyond the World Cup

Middle East contracts awarded: February 2015
Over $8bn of contracts awarded in February in the Middle East

UAE Oil and Gas March 2015 Update

Posted by: Chemist Posted on: April 7, 2015 , , ,

UAE PROJECTS OF THE YEAR AWARDS:
UAE Innovation Project of the Year

Emirates AquaTech Caviar Factory
The Beach
UAE Building Project of the Year

The Beach
Emal
UAE Industrial Project of the Year

Emal Phase 2
Park Hyatt
Drake & Scull Leisure & Tourism Project of the Year – Abu Dhabi

Park Hyatt Hotel
The Beach
Drake & Scull Leisure & Tourism Project of the Year – Dubai

The Beach
Presidential Palace
UAE Power & Water Project of the Year

Presidential Palace substation
Cleveland Clinic
UAE Social infrastructure Project of the Year

Cleveland Clinic Abu Dhabi
Barari
Ramboll Sustainable Project of the Year – UAE

Al-Barari
Raha

Hyder Consulting Transport Project of the Year – UAE
Al-Raha Beach
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Fujairah oil storage continues rapid expansion
Capacity demand rises as traders hold stocks while crude prices stay low

Dubai moves ahead with 800MW solar project
Third phase of the Mohammed bin Rashid al-Maktoum solar park would be the world’s largest single solar project

Contracting and materials drive Senaat profit in 2014
NPCC and Arkan underpin 9 per cent income growth for Abu Dhabi industrial group

Oman Oil and Gas March 2015 Update

Posted by: Chemist Posted on: April 7, 2015 , , ,

Oman tenders coke storage and handling facilities
Companies given deadline for project in Port of Sohar

Stable countries key to long-term plans
China State Construction planning to increase workforce in region if contracts come through

Bank Nizwa reduces losses in 2014
Revenues grow at Omani Islamic bank

Oman evaluates IWP prequalification
Client received entries from 12 companies for two desalination projects

Oman signs water purchase agreement
Singapore firm to develop independent water project

Oman to tender $1bn road project
List of prequalified international consortiums finalised

UK firm awarded Oman services contract
Engineering group to provide technical services to refineries and petrochemicals plants

Oman tenders New Sultan Qaboos hospital
16 companies prequalified

Sultan Qaboos returns to Oman

Oman to tender hospital project
Another five hospital construction tenders expected in 2015

Gulf Business News Feb 2015

Posted by: Chemist Posted on: February 16, 2015 , , , , , , ,

Oman tenders sewerage work
Construction of sewerage networks in Suwaiq

Dubai increases planned solar capacity
Planned capacity of park was 1,000MW and has increased to to 2,600MW

Libya pipeline attacked
Supplies to Marsa al-Hariga are cut

Oman extends Batinah expressway bid deadline
Tender closing date extended for package 11 of road project

Kuwait approves development plan
Previous five-year plan ended in December 2013

Air Arabia posts 30 per cent profit increase
Annual passenger numbers climb to 6.8 million in 2014

Russia and Algeria discuss oil prices
Cooperation between oil producing nations was discussed with Saudi Arabia

Masdar awards solar consultancy contract
German firm providing technical advisory services for Noor 1 solar development

Firms bid for Dubai Metro rolling stock
Study will help increase capacity

Firms bid for Dubai Metro rolling stock
Study will help increase capacity

El-Seif wins $2bn worth of Jizan contracts
Local contractor will build multiple residential areas in Jizan

Bahrain plans to tender Tubli expansion in March
Bahrain upgrades wastewater treatment capacity

Oman Oil, Gas and Energy News Feb, 2015

Posted by: Chemist Posted on: February 6, 2015 , , ,

Oman awards wind farm consultancy deal
ILF Consulting Engineers to advise on 50MW renewables project

Impact of falling oil prices on Oman
With smaller oil reserves and a much higher budget breakeven oil price, Oman is more vulnerable to low crude prices than the four biggest GCC economies, but stands in a far stronger position than Bahrain

Oman begins process for planned new Barka IWP
Consultants invited to submit bids for water recirculation study

Oman prequalifies for Duqm berths terminal
Contractors asked to submit documents by 10 March

Consortium bids low for Sohar desalination scheme
28,000cm/d desalination plant will supply plastics industry

Khazzan export pipelines to be awarded soon
Companies submit prices for Oman condensate and gas export pipelines

Bids submitted for final Oman road package
Bids have been received from 11 firms for the final package of major Oman road project

Oman studies electricity privatization
Canadian company selected to study privatization of power distribution in Muscat

Top 10 projects of Oman

Rank Project Name Sector Contract value  ($m)
1 Sohar Refinery Expansion Project Oil 2,100
2 Muscat & Salalah International Airport Expansion: Passenger Terminal: MC3 Transport 1,834
3 Muscat & Salalah International Airport Expansion: MC1 Transport 1,300
4 Khazzan & Makarem Fields: Central Processing Facility Gas 1,200
5 Redevelopment of Salalah International Airport: MC5 Transport 764
6 Muscat & Salalah Airports: Cargo Terminals & MRO Hangars: MC12 Transport 518
7 Rabab – Harweel Integrated Project: Onplot Gas 500
8 Rabab – Harweel Integrated Project: Offplot Gas 500
9 Musandam Oil Gas Processing Plant Gas 480
10 Salalah Ethylene Dichloride & Caustic Soda Facility Chemical 450

Source: Meed