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- GE completes first Saudi-led gas turbine maintenance project
29/03/2018 08:00 AST
Saudi Aramco finalized a deal on Wednesday with Malaysian state energy company Petroliam Nasional Berhad (Petronas) to invest in a refinery project off Malaysia.
The Saudi oil giant agreed in February last year to buy a $7 billion stake in Petronas' Petrochemical Integrated Development (RAPID) project, but the issue was then delayed by "technical issues."
RAPID is a $27 billion project located between the Malacca Strait and the South China Sea, a conduit for Middle East oil and gas bound for China, Japan and South Korea.
The two companies said in a statement that they signed the deal on Wednesday, but did not confirm the value of Aramco's investment.
Saudi Aramco will supply
50 percent of the refinery's crude oil with an option of increasing it to 70 percent, the statement said.
The development will contain a 300,000 barrel-per-day oil refinery and a petrochemical complex with a capacity of 7.7 million metric tons a year. Refinery operations are set to begin in 2019, with petrochemical operations to follow about 6-12 months afterward.
Arab News
06/04/2025
Saudi Aramco on Sunday cut its crude oil prices for Asian buyers in May to their lowest in four months, an official document showed.
This is the second consecutive month Aramco has lowered i
Arab News
29/03/2025
China's President Xi Jinping urged a gathering of multinational CEOs on Friday to protect global industry and supply chains, as Beijing seeks to assuage foreign firms' concerns over the Chinese econo
Reuters
27/03/2025
Saudi Aramco kept the April's official selling prices for propane and butane unchanged from the previous month, according to a statement released on Thursday.
The prices are set at $615 per
Arab News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| ABAR | 145.00 | 1.00 (0.69 |
| ADNOCGAS | 2.85 | -0.04 (-1.39 |
| ADNOCDRILL | 4.79 | -0.09 (-1.85 |
| BAHRI | 30.60 | 0.10 (0.32 |
| ADES | 14.60 | -0.60 (-3.95 |
09/04/2025
GE Vernova and Saudi Electricity Company (SEC) have announced the successful completion of the first gas turbine outage entirely planned and executed by GE Vernova's Saudi engineers and specialists.
Trade Arabia
09/04/2025
Estithmar Holding announces the resignation of Mohammed bin Bader Al-Sada as the Group Chief Executive Officer. The Board of Directors has appointed Juan Leon as his successor, with full executive au
The Peninsula
09/04/2025
Investcorp Capital, a major player in the private markets and alternative investment sector, has announced that it has completed the sale of its US industrial real estate portfolio for an aggregate
Trade Arabia
08/04/2025
The total assets of commercial banks operating in Qatar saw an increase in February 2025 reaching over QR2 trillion according to official data released by Qatar Central Bank (QCB), yesterday.
The Peninsula
08/04/2025
Sohar International Bank on Monday announced its intention to explore a potential merger with Ahlibank.
In a meeting held by its board of directors, Sohar International resolved to send a le
Muscat Daily
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