Bloomberg Total SA’s withdrawal from Iran’s giant South Pars gas field has given China another chance to secure a stake in the world’s most coveted energy assets: abundant and low-cost Middle Eastern oil and gas. Chinese companies have invested in Iraq, the United Arab Emirates and Iran in recent years, and have expressed interest in oil and gas projects in …
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Bloomberg SpiceJet Ltd. completed its maiden flight using a blend of aviation fuel and oil from jatropha seeds, furthering Prime Minister Narendra Modi’s push for greater use of alternative resources to cut India’s dependence on oil imports. A Bombardier Q400 aircraft made the one-way trip to New Delhi from the city of Dehradun, about 200 kilometres from the capital. The …
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Bloomberg Italy’s gas pipeline operator Snam SpA signed a memorandum of understanding with China’s State Grid International Development as part of Finance Minister Giovanni Tria’s trip to the Asian country. Snam and State Grid International, a unit of the biggest Chinese power distributor, agreed to examine a range of opportunities in China and elsewhere, with a focus on the use …
Read More »Bloomberg India’s largest natural gas pipeline operator has invited users to book surplus network capacity online as the country prepares to create a distribution hub that sets benchmark prices. State-run GAIL India Ltd., which controls 70 percent of the nation’s network, launched a website for online bookings of pipeline capacity to ship gas across the country. GAIL, with 11,400 kilometres …
Read More »Bloomberg TransCanada Corp. won a 49 percent price increase for space on the pipeline it’s building to haul shale gas from Appalachian fields as labor shortages and escalating land prices pushed construction costs almost $1 billion higher. US regulators approved the Calgary-based company’s request to charge gas explorers $14.663 per dekatherm for space on its Mountaineer XPress Project, 275-kilometre in …
Read More »DUBAI / WAM Emirates has announced that it will boost its services to Riyadh with the addition of a fourth daily flight to the Saudi capital from September 1. The addition of the fourth daily service will take the total number of weekly Emirates flights serving Riyadh to 28. Adil Al Ghaith, Senior Vice President Commercial Operations, Gulf, Middle East …
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Bloomberg Donald Trump has signed off on a bilateral agreement with Mexico to revamp the North American Free Trade Agreement, according to three people familiar with the matter. “A big deal looking good with Mexico!†Trump tweeted earlier on Monday. There is no deal reached yet with Canada, the people said, which has been on the sidelines of the talks …
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Bloomberg Saudi Arabia has granted its state-owned oil company a 40-year concession to exploit the kingdom’s hydrocarbon reserves as part of Aramco’s preparation for a potential initial public offering, a person familiar with the matter said. The pact replaces norms dating in some cases from 1933, when the kingdom first agreed to let companies drill for oil there, the person …
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Bloomberg Oil held above $68 a barrel on slowing American drilling and investor optimism after a breakthrough in a trade standoff between the US and Mexico. Futures in New York were little changed, following a 1.3 percent gain. Working oil rigs in the US declined by the most since May 2016 last week, according to Baker Hughes data. Crude has …
Read More »Dubai / Emirates Business Bayt.com launched a series of technological features and enhancements set to revolutionize job hunting and the recruitment process for the Middle East and North Africa (Mena) region. The new Artificial Intelligence powered features are designed to match talent with opportunity in a much more powerful and efficient manner. The first of these new features is the …
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