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Russia backs Iran’s enrichment plans

Russia’s Foreign Ministry said on Friday that Iran’s latest move to scale back its commitments under the 2015 nuclear deal did not pose a threat to the non-proliferation regime, Interfax news agency reported. Iran said on Thursday it had resumed uranium enrichment at its underground Fordow nuclear plant, stepping further …

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Iran holding UN nuclear inspector

The European Union and United States expressed concern on Thursday over Iran’s holding of an inspector from the U.N. nuclear watchdog last week, with the U.S. envoy to the agency calling it an “outrageous provocation” that must have consequences. Reuters first reported on Wednesday that Iran had briefly held the …

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UN nuclear insecptors heading to Iran

U.N. nuclear inspectors are on the ground in Iran and will report back on relevant activities, an International Atomic Energy Agency spokesman said on Wednesday after Iran said it injected uranium gas into centrifuges at its Fordow site. “We are aware of the media reports today related to Fordow. Agency …

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Saudi Aramco targets Malaysia in IPO bid

Saudi Aramco has approached Malaysian state energy company Petronas to participate in Aramco’s initial public offering (IPO), Petronas said on Wednesday, as the Middle Eastern oil giant seeks cornerstone investors for the listing. The Saudi government plans to sell 2% of state-run Aramco, the world’s most profitable company, in a …

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Iran taking further steps to enrich uranium

Iran said on Monday it would take another step away from the 2015 nuclear deal by developing centrifuges to speed up its uranium enrichment, its nuclear chief Ali Akbar Salehi said. “Today, we are witnessing the launch of the array of 30 IR-6 centrifuges,” Salehi, who heads Iran’s Atomic Energy …

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Saudi Aramco IPO listing to go as planned

Saudi Arabia’s state oil company kick-started its initial public offering (IPO) on Sunday, announcing its intention to list on the domestic bourse as the kingdom seeks to diversify and create the world’s most valuable listed company. SALAH SHAMMA, HEAD OF INVESTMENT, MENA, FRANKLIN TEMPLETON EMERGING MARKETS EQUITY With Aramco likely …

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US renews wavers over Iran sanctions

The United States plans to allow Russian, Chinese and European companies to continue work at Iranian nuclear facilities to make it harder for Iran to develop a nuclear weapon, two sources familiar with the matter said on Wednesday. The Trump administration, which last year pulled out of the 2015 Iran …

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Brazil wants to join OPEC

Brazilian President Jair Bolsonaro said on Wednesday that he wants his country to join OPEC, a move that would add the most significant new producer to the oil cartel for years. The comments come ahead of a massive auction of oil rights in Brazil, which is boosting output rapidly. OPEC …

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Saudi Aramco IPO slotted for December 4

Saudi Aramco aims to announce the start of its initial public offering (IPO) on Nov. 3, three people with direct knowledge of the matter told Reuters, after delaying the deal earlier this month to give advisers time to secure cornerstone investors. The people also said Aramco’s chief executive officer, Amin …

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US prepared to help Saudi nuclear programme

U.S. Energy Secretary Rick Perry said on Saturday that conversations with Saudi Arabia on a nuclear program are going forward. The world’s top oil exporter had said it wanted to use nuclear power to diversify its energy mix. It wants to go ahead with a full-cycle nuclear program, including the …

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US still eyeing Syrian oilfields

The United States is committed to reinforcing its military position in Syria with additional assets to prevent oilfields from being taken over by remnants of the Islamic State militant group or others, a U.S. defense official said on Thursday. The official, speaking on condition of anonymity, did not disclose what …

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DEWA working with Honeywell to install smart meters

The Dubai Electricity and Water Authority, DEWA, renewed its collaboration with Honeywell to install 250,000 additional smart meters across Dubai, bringing the total number of such meters installed as part of the “Smart Applications via Smart Grid and Meters” initiative to approximately one million. Smart meters are the main features …

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World’s first intelligent gas turbine launched in UAE

H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, and President of the Dubai Electricity and Water Authority, DEWA, unveiled the world’s first thermodynamic Digital Twin Gas Turbine Intelligent Controller, which uses Artificial Intelligence, AI, and machine learning, co-developed by the DEWA and Siemens. …

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Carlyle Group in UAE, seeking Mubadala

Mubadala Investment Company, the Abu Dhabi-based sovereign investor, and global investment firm The Carlyle Group (NASDAQ: CG) today reached completion of the transaction announced on 8 April 2019. Funds affiliated with Carlyle have acquired 37 percent shareholding in Compañía Española de Petróleos, S.A.U,Cepsa, from Mubadala. Mubadala will remain the majority …

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ADNOC, Gazprom working on EOR and value-added partnership

The Abu Dhabi National Oil Company,ADNOC, signed today a comprehensive strategic framework agreement with the Public Joint Stock Company Gazprom Neft,Gazprom Neft, to explore new opportunities for collaboration in both the upstream and downstream sectors, as well as in artificial intelligence and other innovative technologies. The cooperation brings together two …

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UAE ready for zero-carbon buildings

The UAE is on a firm footing to achieve the commitment to net-zero carbon buildings, backed by its comprehensive approach to green buildings and sustainable development, said Saeed Al Abbar, Chairman of the Emirates Green Building Council, EmiratesGBC, at the Global Alliance for Buildings & Construction panel at the 3rd …

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UAE eager to buy nuclear fuel from Russia

The United Arab Emirates is cooperating with Russia to buy Russian nuclear fuel, state-run news agency (WAM) quoted the UAE’s Minister of Energy and Industry as saying on Monday. “There is cooperation between the two countries to buy Russian nuclear fuel in relation to the UAE’s peaceful program for nuclear …

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Russian investors eyeing Saudi Aramco IPO

A number of Russian investors are interested in a planned initial public offering of Saudi Arabian state-owned oil company Saudi Aramco, Kirill Dmitriev, the chief executive officer of Russian sovereign wealth fund RDIF, told reporters on Sunday. Dmitriev, speaking ahead of Russian President Vladimir Putin’s visit to Saudi Arabia, also …

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Major new gas find in Iran

Iran has discovered a new natural gas field with a 19-trillion-cubic-feet reserve in the southern province of Fars, the Oil Ministry’s website SHANA reported on Sunday. “The new natural gas field is in the southern part of Fars province with 19 tcf gas in place,” SHANA quoted Reza Dehghan, deputy …

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Brooge Petroleum issues Fujairah land lease

Brooge Petroleum and Gas Investment Company, BPGIC, a UAE company in the oil storage and services business, executed an initial lease agreement for new land in the port of Fujairah, near its existing facilities, which can accommodate its planned Phase III. BPGIC intends to use the land to further increase …

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ADNOC devising smart strategies to tackle energy demands

The Abu Dhabi National Oil Company, ADNOC, is creating new opportunities for partnerships and investments as it pursues a balanced smart growth strategy and drives responsible production to reliably meet the world’s growing energy demand, according to Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group …

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Saudi, Russian oil ministers coordinating policy

The Saudi energy minister on Monday discussed with the Russian minister of economic development cooperation in energy and the stability of global markets, Saudi state news agency (SPA) reported. Prince Abdulaziz bin Salman discussed with Russia’s Maxim Oreshkin “the role of the two countries in the stability of global markets …

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ADNOC pushes educational initiative with Bloomberg

The UAE Ministry of Education, the Abu Dhabi National Oil Company, ADNOC, and Bloomberg L.P. signed today a Memorandum of Understanding, MoU, to implement a training and development programme — called the ADNOC-Bloomberg Education Initiative. The initiative is designed to equip a new generation of students with the specialised financial …

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Iran planning new pipeline beyond Gulf

Iran is building a $1.8 billion oil pipeline to its port of Jask outside the mouth of the Gulf, the country’s oil minister said, as part of plans to protect its exports against potential problems in the region and to boost shipments of Caspian oil. Iran has been planning since …

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Dubai hosting Solar Asset Management MENA Conference

Dubai will play host to the Solar Asset Management MENA Conference, the biggest gathering of solar industry stakeholders which will take place on 17-18 November. A massive $15bn worth of solar projects are expected to be operational in the next five years in the Middle East while the current solar …

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British oil tanker still held by Iran

British-flagged tanker Stena Impero, detained by Iran in July, is still in the country despite Iranian officials saying it was free to leave, Stena Bulk CEO Erik Hanell said on Tuesday. Iran’s ambassador to the United Kingdom, Hamid Baeidinejad, said on Twitter on Monday the Swedish-owned vessel was free to …

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