SAUDI ARABIA > US based Nabors Industries and Saudi Aramco have created a new 50/50 joint venture company called Saudi Aramco Nabors Drilling Company or SANAD

SANAD logo US based Nabors Industries announced the previously agreed 50/50 joint venture between Saudi Aramco and Nabors called SANAD has begun commencement of operations. In an effort to introduce world class industry hubs locally, Saudi Arabia has created anchor projects like SANAD to foster economic growth and job creation. Both Nabors and Saudi Aramco have made equal contributions of cash and/ More …

AUSTRALIA> Singapore based WEFIC and Australia based KINETIC jointly announce the launch of a service facility

WEFIC logo Marking an important milestone in promoting high-end marine wellheads in Australia, Singapore based WEFIC and Australia based KINETIC jointly announced the launch of a service facility. According to Willy Ben Ng, Vice President of WEFIC: “Given the strong market demand for wellhead products and the tight delivery requirements in relation to the Australian market, WEFIC decided to partner with KINETIC More …

ARGENTINA > Germany based Siemens has received a contract to expand the Genelba gas-fired power station in Argentina

Siemens logo1 Working with its Argentine partner Techint to provide power for its end customer, Pampa Energia S.A, Siemens has receive a contract to expand the Genelba gas-fired power station. The project involves converting the Marcos Paz power station in Buenos Aires Province into a combined cycle power plant and is to be commissioned in mid-2019. This will increase the plant’s electrical More …

SCOTLAND > Australia based Faraday Grid Limited has established its global headquarters in Edinburgh, Scotland

Faraday Grid Logo Australia based Faraday Grid has chosen Edinburgh as their international headquarters. The deal which is backed by the Scottish Development International, Faraday Grid aims to work closely with local universities in Edinburgh and Strathclyde. Faraday Grid Limited is a systems design company that is developing The Faraday Exchanger, a new technology to address short term volatility and frequency which is More …

RUSSIA > China based CEFC to acquire 14.2% stake in Rosneft from Glencore and QIA Consortium for about $9 billion

CEFC logo photoshop CEFC, a Chinese oil company, is set to buy 14.2% stake in Rosneft from Glencore Plc and Qatar’s sovereign wealth fund with the companies only retaining 0.5 % and 4.7% of their stake respectively. Glencore and Qatar SWF will pay their debt for buying their initial stake for about $12 billion. This deal is a departure from trend in China More …

DENMARK > French oil giant Total acquires Danish Maersk’s oil and gas business in a $7.45 billion deal

Total logo Helped by signs of recovery in the recent oil market, the world’s top oil companies have been on acquisition and takeover trail. On such recent move, French Total is buying Danish Maersk’s oil and gas business in a $7.45 billion deal, to strengthen its operation in the North Sea for Total and Maersk plans to focus on its shipping business More …

EGYPT> IFC invests $635 million in Egypt’s solar power plants

IFC logo IFC,  an institution that is member of World Bank Group, announced in July 20 to invest $635 million to construct and operate up to 11 solar plants in Egypt. All the plants combined capacity will be 500 Megawatts. This investment is part of the Egypt’s prestigious solar energy plant Feed-In Tariff (FIT) program, totaling $730 million that aims to harness More …

BRAZIL > China based JA Solar establishes new subsidiary in Brazil

jasolar_logo JA Solar Holdings Co., Ltd. (Nasdaq: JASO) – manufacturer of high-performance solar power products – recently launched its subsidiary JA Solar Brazil Ltda (“JA Solar Brazil”) in Brazil. According to the company’s press release, “JA Solar has operated in Brazil since 2015 and has seen significant growth in the Distributed Generation (DG) market, which requires local support for customers’ planning, More …