:: SABIC affiliate signs 3.5 billion loan agreements
Posted: 19 June 2006
SABIC affiliate, Yanbu National Petrochemical Company (YANSAB), signed a package of loan contracts and facilities agreements valued at $ 3.5 billion with the Public Investment Fund and a group of local, regional and global banks to fund the construction of its petrochemical complex in Yanbu Industrial City.

:: Oman crude oil futures contract to be launched
Posted: 19 June 2006
The Dubai Mercantile Exchange Limited (DME) has announced details of its Oman Crude Oil Futures.

:: WorleyParsons wins Abu Dhabi contracts
Posted: 19 June 2006
Abu Dhabi Gas Industries Limited Ltd (GASCO) and Abu Dhabi Gas Liquefaction Company Ltd (ADGAS) have awarded Parsons Energy and Chemicals Group Limited (a wholly owned subsidiary of WorleyParsons) three contracts with total estimated value of about $35.7 million to provide Project Management Services on three EPC packages consisting of Das Island Facilities, Offshore Pipeline, and Onshore Pipeline and Habshan Facilities of its Offshore Associated Gases Project on behalf of GASCO and ADGAS.

:: Hallin Marine wins two new contracts
Posted: 19 June 2006
Hallin Marine, the AIM quoted provider of subsea solutions to the oil and gas industry, has won two new contracts with a combined value of a minimum of $4.3 million.

:: Dmg World Media to produce ADIPEC
Posted: 19 June 2006
Dmg world media said it has acquired the rights to produce the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) one of the world’s largest oil and gas exhibitions with more than 1,200 companies represented.

:: Installation of Dolphin Energy’s offshore facilities completed
Posted: 19 June 2006
J. Ray McDermott said it has completed the installation of Dolphin Energy’s two integrated drilling and production platform complexes: DOL1 and DOL2.

:: Larsen & Toubro expands in Kuwait
Posted: 19 June 2006
Larsen & Toubro has signed a joint venture agreement with a subsidiary of Kuwait-based Bader Al Mulla and Brothers Co.

:: OMV starts exploring Block 2 in Yemen
Posted: 19 June 2006
OMV says the government of Yemen has ratified its production sharing agreement for Yemen’s Block 2 ("Al Mabar").

:: Spectrum wins seismic processing contracts
Posted: 19 June 2006
GGS reports that Spectrum has been awarded two significant processing contracts of a combined value of over $1.5 million. The contracts will add to the expected Spectrum revenues during the second half of 2006.

:: Transglobe Energy increases 2006 budget
Posted: 19 June 2006
TransGlobe Energy said it has expanded its 2006 capital budget to $54 million, up from the initial budget of $45 million.

:: PWC awarded $ 5 million oil lake project
Posted: 19 June 2006
The PWC Logistics owned Metal & Recycling Company (MRC) partnering with US based Lewis & Lambert Company was recently awarded a three year contract by the Kuwait Oil Company (KOC) worth $ 5 million.

:: Arab Oil & Gas Show to unveil innovative technologies
Posted: 19 June 2006
The 13th Arab Oil & Gas Show 2006 (OGS 2006), the Arab world’s premier event for petroleum industry professionals, investors, equipment and technology providers, will take place from September 9 to 11 at the Dubai International Exhibition Centre.

:: Sabic sets up Islamic finance arm
Posted: 19 June 2006
Saudi Basic Industries Corporation (Sabic) has set up an Islamic finance arm that will oversee its domestic Islamic bond issuances. Sabic Sukuk Company's first issue will be of at least $267 million to help finance expansion projects, Sabic said.