Middle East News

Twelve Seas Investment, together with a newly-formed Cayman Islands holding company, will acquire 100% of the shares of Brooge Petroleum and Gas Investment Company.

The company has announced the appointments of Nakul Dubey, Capt. Ada Ezgi Baser, Norman Xie Changlong and Rune Jensen.

The three-year contract, awarded by Muttrah Tourism Development Co., will see Shell Oman Marketing Company operate bunker storage facilities and supply marine fuel and lubes.

Qatar Free Zones Authority (QFZA) has announced that the new area, called Marsa, will be located next to Hamad Port.

The crude oil, fuel testing and petroleum products facility is located at the Port of Khor Al Zubair.

Jacobs will provide FEED and project management consultancy services for the ‘Bottom of the Barrel’ initiative which converts oil residue streams from the crude distillation process into higher value products, including diesel and low sulphur bunker fuel.

In the latest of a series of agreements with South Korean companies, the Abu Dhabi National Oil Company has awarded a contract to SK Engineering and Construction Co. Ltd (SKEC) for the construction of a 42 million-barrel capacity storage facility in Fujairah.

The regional chemical industry in Gulf Cooperation Council states could witness a 10% increase in export freight rates as well as changes in its feedstock prices, highlights the Secretary-General of the Gulf Petrochemicals and Chemicals Association (GPCA).

Quadrise Fuels International (Quadrise) has entered into a services agreement (SA) with Aleph Commodities Ltd (Aleph) to pursue opportunities on behalf of the company for the use of MSAR in Kuwait.

The United Arab Emirates (UAE) has become the latest State to accede to the International Maritime Organization (IMO) instrument providing rules for the prevention of air pollution from ships and energy efficiency requirements.