Bloomberg The company behind a major tourism destination on Saudi Arabia’s Red Sea coast that will include an archipelago of more than 90 islands as well as desert and mountain scenery hopes to award up to $2.7 billion in construction contracts by the end of 2020. “Between now and the end of the year, we hope to award another two …

Bloomberg Seven hundred tons of Russian refinery equipment has just completed a journey worthy of a great explorer. The parts manufactured in Volgograd will be used to upgrade Gazprom Neft PJSC’s Omsk refinery. That’s a trip of 2,599 kilometers by land, but the oversized cargo had to be taken by water. That required a journey of more than 9,000 kilometers …

Bloomberg Petroleos Mexicanos replaced the head of its trading arm PMI with Ulises Hernandez, formerly an executive of Pemex Exploration and Production, after a mass exodus by former management. Hernandez, previously the head of resources, reserves and partnerships at Pemex, will replace Raul Enrique Galicia, according to a statement. PMI’s crude trading division will also have new management, as Armando …