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ADNOC Awards Indian Consortium Onshore Exploration Block in Abu Dhabi

ADNOC Awards Indian Consortium Onshore Exploration Block in Abu Dhabi

The Abu Dhabi National Oil Company (ADNOC) signed agreements awarding the exploration rights for Abu Dhabi Onshore Block 1 to a consortium of two Indian oil companies, Bharat Petroleum Corporation Limited and Indian Oil Corporation Limited.

ACWA Power, DEWA Announce Financial Closing of Solar Park

ACWA Power, DEWA Announce Financial Closing of Solar Park

Dubai Electricity and Water Authority (DEWA) and the consortium led by Saudi Arabia’s ACWA Power and Chinese government-owned Silk Road Fund announced the financial closing of the 950-megawatt fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The solar park will produce 5,000 megawat

Saudi Customs Seeks to Develop Trade Ties with Iraq

Saudi Customs is planning on signing with Bahrain and UAE this year two agreements on mutual recognition to facilitate Saudi export procedures, announced Chairman of the General Customs Authority Ahmed al-Hakbani. Speaking to Asharq al-Awsat, Hakbani said the Authority is mapping out industrial a

STC to Establish USD5 Billion Sukuk Program

STC to Establish USD5 Billion Sukuk Program

Saudi Telecom Company (STC) announced its intention to establish an international sukuk program that would include issues of up to five billion American dollars, to be made directly through STC or through an entity of a special purpose to be found outside Saudi Arabia for this aim. Sukuks will b

Al-Ahsa Investment Forum Recommends Constructing Int’l Airport

Al-Ahsa Investment Forum Recommends Constructing Int’l Airport

The 5th Al Ahsa Investment Forum 2019 recommended establishing a new airport in al-Ahsa that contributes to fostering economic development and meets current and future individual and business sector needs. The forum, which concluded on Thursday, also recommended supporting efforts that aim to saf

Russia’s Sukhoi Plans to Set up Technical Support Center for its Civilian Jets in Saudi Arabia

Russia’s Sukhoi Plans to Set up Technical Support Center for its Civilian Jets in Saudi Arabia

Sukhoi Civil Aircraft (SCAC) intends to set up a technical support center for its Super Jet SSJ100 in Saudi Arabia, revealed the company’s president Alexander Rubtsov. He told Asharq Al-Awsat that the center will provide technical support to potential operators in the region. He spoke of vario

OPEC+ Will Hopefully Finalize Alliance in June- UAE Energy Minister

OPEC+ Will Hopefully Finalize Alliance in June- UAE Energy Minister

OPEC and its non-OPEC allies could sign in June a pact to make their oil market-managing policies formal, UAE’s Energy Minister Suhail al-Mazrouei said Wednesday, adding that Abu Dhabi will continue to maintain its compliance with OPEC+ cuts at 100 percent until the next meeting. “We are committe

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