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ADNOC Awards Contract for Construction of Ghasha Concession Artificial Islands

ADNOC Awards Contract for Construction of Ghasha Concession Artificial Islands

The Abu Dhabi National Oil Company (ADNOC) said Wednesday it has awarded a dredging, land reclamation and marine construction contract to build multiple artificial islands in the first phase of development of the Ghasha Concession. The contract awarded to the UAE’s National Marine Dredging Compan

Saudi, UAE Announce Joint Entity to Provide Integrated Energy Efficiency Solutions

Saudi, UAE Announce Joint Entity to Provide Integrated Energy Efficiency Solutions

A Saudi-UAE strategic partnership in the energy sector was announced on Wednesday in Riyadh, represented by the establishment of a new joint entity that provides integrated energy efficiency solutions in Saudi Arabia.   Saudi Arabia’s Roya for Investments and UAE’s Etihad Energy Services revealed

Saudi Electricity Company Earnings Reach SR1.78 Bln in Q4 2018

The Saudi Electricity Company (SEC) announced that its earnings reached SR1.78 billion in the fourth quarter of 2018 after the deduction of Zakat and taxes, reported the Saudi Press Agency. The figure marks a drop of 74.2 percent for the same period of 2017 when SEC recorded earnings worth SR6.9

Iraq to Drill 40 New Wells in Majnoon Field

Iraq to Drill 40 New Wells in Majnoon Field

Iraq's oil ministry announced on Sunday the details of the agreement signed last week with the Basra Oil Co.

GCC Increases Focus on Affordable Housing

GCC Increases Focus on Affordable Housing

Gulf Cooperation Council (GCC) countries are doubling their efforts to further enhance low- and middle-income households’ ability to own affordable housing, as part of government efforts to address rapid urbanization and population growth. A new report titled “New Trends in Affordable Housing in

ADNOC, Occidental Agree to Explore Oil, Gas in Onshore Block 3

ADNOC, Occidental Agree to Explore Oil, Gas in Onshore Block 3

The Abu Dhabi National Oil Company (ADNOC) announced the signing of an agreement with Occidental Petroleum which will look for oil and gas in the onshore block – known as Onshore Block 3. Onshore Block 3 covers an area of 5,782 km2 located in the Al Dhafra region.

Morocco: Alliances Developpement Immobilier Proposes Rescheduling Stumbling Bonds

Morocco: Alliances Developpement Immobilier Proposes Rescheduling Stumbling Bonds

Alliances Developpement Immobilier (ADI) proposed rescheduling stumbling debts of 2011, 2012 and 2015 through the issuance of new borrowing bonds. The value of these loans exceed MAD2.5 billion (USD266 million), and their interest payment had stopped since 2016 due to financial challenges that th

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