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Egypt signs historic $7.5 billion petrochemical deal

Egypt has signed a $7.5 billion deal to construct a petrochemical complex in the Ain Sokhna industrial zone, the cabinet said on Wednesday. The deal, between the Red Sea National Refining and Petrochemicals Company and the Suez Canal Economic Zone’s development company, aims to produce value-added petroleum products in order …

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UAE may buy stake in Israeli Tamar gas field

Delek Drilling DEDRp.TA said on Monday it had signed a non-binding deal to sell its stake in the east Mediterranean natural gas field Tamar to Abu Dhabi’s Mubadala Petroleum for $1.1 billion. The deal, if finalised, would be one of the most significant developments since Israel and the United Arab …

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Iran driving towards 60% uranium enrichment

Iran said on Tuesday it will start enriching uranium to 60% purity, a move bringing the fissile material closer to levels suitable for a bomb, after accusing Israel of sabotaging a key nuclear installation. The disclosure came soon before the resumption of talks in Vienna aimed at reviving Iran’s 2015 …

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Iran Natanz electrical incident turns nuclear

A problem with the electrical distribution grid of Iran’s Natanz nuclear facility caused an incident at the site on Sunday, Iranian Press TV reported, a day after Tehran launched new advanced uranium enrichment centrifuges at the site. The Natanz facility, which is located in the desert in the central province …

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Iran redesigning Arak nuclear reactor

Iran will cold test its redesigned Arak nuclear reactor as prelude to fully commissioning it later in the year, Iran’s Atomic Energy Organization said on Friday. Spokesman Behrouz Kamalvandi was quoted by local media as saying the cold testing, which usually include the initial startup of fluid systems and support …

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UAE greenlights second nuclear power unit

The UAE announced the issuance of a license to operate the second unit of the Barakah nuclear power plant in Abu Dhabi’s Al-Dhafra region, state news agency WAM reported on Tuesday. The Nawah Energy Company – which is responsible of operating unit one to four of the power plant – …

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Iran dismissive of US, EU proposals over nuclear deal

Iran on Sunday ruled out holding an informal meeting with the United States and other major powers to discuss ways to salvage the unravelling 2015 nuclear deal, insisting Washington must first lift all its unilateral sanctions. “Considering the recent actions and statements by the United States and three European powers, …

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IAEA uncovers evidence of Iran nuclear weapons programme

UN inspectors have unearthed fresh evidence that Iran had undertaken work on nuclear weapons without declaring such activities, the Wall Street Journal reported on Saturday. “Samples taken from two sites during inspections in the fall by the U.N.’s International Atomic Energy Agency (IAEA) contained traces of radioactive material,” the report …

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Macron wants to mediate between US and Iran

French President Emmanuel Macron on Thursday welcomed the renewed U.S. willingness to engage with Iran, offered himself as an honest broker and said Saudi Arabia and Israel must ultimately be involved somehow. “We do need to finalize, indeed, a new negotiation with Iran,” Macron told the Washington-based Atlantic Council think …

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