Energy Sector
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Oil tanker, container ship on fire off Dubai -sources

container ship Sima Saba

Tuesday saw a sad announcement coming from the UAE's official news agency WAM that a tanker which was carrying liquefied gas and a container ship collided on Tuesday, off the coast of Dubai, financial hub of United Arab Emirates (UAE).

WAM further informed, "The accident occurred at 12:35 p. m. (0835 GMT) seven nautical miles off the Jebel Ali port, the main container port in the Middle East."

Control of KESC acquired by Abraaj

Abraaj Capital

On Wednesday, the Dubai-based Abraaj Capital revealed that an agreement has been made to get a stake in the biggest shareholder of Karachi Electric Supply Company.

The result followed a government move for funding a financial support to KESC for clearance of Pepco, Hubco and PSO bills.

Finally on Wednesday the deal was made public and before this,  it was almost known to everyone that Abraaj was efficiently running KESC dealings after acquiring stakes in the offshore KES to avoid the three-year cap on Aljomaih to offload its shares.

Abu Dhabi oil, gas fields to be developed by Occidental

Abu Dhabi oil, gas fields to be developed by OccidentalA preliminary agreement has been signed between Occidental Petroleum Co and Abu Dhabi National Oil Company with the aim to develop two oil and gas fields in the emirates, announced Occidental on Wednesday.

UAE's Mubadala, Conoco agree Kazakh deal

UAE's Mubadala, Conoco agree Kazakh dealA preliminary deal has been signed between the UAE's Mubadala Development Co, U.S. major ConocoPhillips and Kazakhstan's state energy firm to develop an offshore Kazazh oil and gas block, announced Mubadala Development Co on Sunday.

Abu Dhabi Oil Refining Company selects UOP Technology for refinery expansion

Abu Dhabi Oil Refining Company selects UOP Technology for refinery expansionToday an announcement was made by UOP LLC, a Honeywell company, that they have been selected by the Abu Dhabi Oil Refining Company, also known as Takreer, with the aim to supply technology and engineering services for an expansion at its Ruwais Refinery in the United Arab Emirates.

Abu Dhabi fund to infuse $174m in Siva arm

Tuesday saw MASDAR, which is basically a fund aimed by the sovereign backed Abu Dhabi Future Energy Company, making an announcement that it has signed an agreement with Finnish wind turbine manufacturer WinWinD, to make a whopping investment of Euro 120 million or $174 million for substantial minority stake.

Costly Gulf Canal Project will be Beneficial for Gulf States

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