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Economy Energy International News Technology & Innovation

Egyptian firm secures $15 million contract for BP’s offshore project

The Egyptian firm, TWMA, has secured a $15 million contract to provide support for BP’s offshore project. The project involves the deployment of TWMA’s RotoMill drill cuttings processing technology for BP’s WND & END exploration and development initiative in the Mediterranean Sea. This five-year project is set to begin in October of this year. The RotoMill technology was chosen for its positive environmental impact. Through thermal desorption, it separates drill cuttings and associated materials into

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Economy International News Oil

India Makes First Crude Oil Payment to ADNOC in Indian Rupees

India and the UAE have started settling bilateral trade in their local currencies, with India’s top refiner making a payment in rupees for the purchase of a million barrels of oil from the Middle Eastern nation, the Indian government said on Monday. Indian Oil Corp made the payment to ADNOC for the purchase, according to a statement issued by the Indian embassy in the UAE. The transaction follows another involving the sale of 25 kg

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Economy Gas International Oil

UAE jobs: Petrofac is hiring for over 200 vacancies. Here’s why you should apply

With the award of several large projects and a busy bidding pipeline, the EPC giant Petrofac is on a concerted recruitment drive. Oil & Gas Middle East spoke to Des Thurlby, Petrofac’s Group Director of Human Resources, about the type of roles involved, the qualities Petrofac is looking for in candidates, and the reasons why people should consider applying. Oil & Gas Middle East: Can you tell us about the current recruitment drive at Petrofac

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International News Oil

Sudan’s Oil Exports on the Rise Despite Ongoing Conflict

The crude exports by South Sudan have climbed to their highest level in almost two years despite an ongoing war between Sudan’s government forces and a paramilitary group that erupted in April. Crude shipments now average 154,839 barrels per day, about double March’s figure of 77,419 barrels per day. Experts have grown increasingly worried that East Africa’s oil hub will be plunged further into chaos and left without its main source of livelihood ever since

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Economy Gold International News

Gold Prices Dip as Recession Fears Fade

Gold’s status as a safe-haven asset wanes due to rising interest rates and an increased appetite for riskier investments. Despite holding above the $1,900 mark since March, continued healthy employment and declining inflation in the US have shifted market perspectives. Analysts highlight challenges for gold, including the continuous selling of exchange-traded funds, with net outflows marking their lowest level since April 2020. Gold Prices The price of gold has weakened in the face of a

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Economy Gas International News

Top 5 Lessons Gas-Rich Countries Can Learn from Algeria

Algeria’s is a major Liquefied Natural Gas (LNG) exporter and the lessons that gas-rich countries can learn from Algeria’s approach using the five key lessons are: In summary, Algeria’s success in the gas sector is attributed to a combination of factors including infrastructure development, long-term planning, strategic decision-making, focus on domestic value addition, and investment in local capacity. These lessons can be valuable for other gas-rich countries, particularly in Africa, looking to leverage their resources

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Energy International News Petroleum

Azule Energy Partners Collaborates with Palantir to Elevate Operations

Azule Energy has partnered with the software company Palantir Technologies to optimize and modernize its upstream production operations. Through this collaboration, Azule Energy will implement Palantir’s solution, Palantir Foundry, across its operations to provide valuable support to various engineering roles, including petroleum engineers, process engineers, and flow assurance engineers, thereby enhancing efficiency and effectiveness. A key aspect of the partnership involves the integration of data across Azule Energy’s upstream infrastructure. By connecting data from sources

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Gas International News

Saipem Secures Contract for Libya’s Borui Gas Utilisation Project

Italian multinational oilfield services company Saipem has been selected by Mellitah Oil & Gas to provide services for the development of the Borui Gas Utilization Project in Libya. Saipem will provide engineering, procurement, construction, installation and commissioning services for an approximately 5,000-ton gas recovery module which will replace an existing platform, as part of the contract. The contract is worth approximately $1 billion and will also include Saipem installing 28km of pipelines to connect the

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Diamonds Energy International News

Rio Tinto to build Canada’s largest solar plant to power a diamond mine 

Anglo-Australian mining giant Rio Tinto is to build Canada’s largest solar power plant that willsupply electricity to its diamond mine in the Northwest Territories, the miner announced last week.   The plant will cover a quarter of the electricity needs of the Diavik diamond mine by generating around 4,200 megawatt-hours of electricity annually. The move comes as Rio Tinto plans to achieve net-zero emissions across its operations by 2050.  The solar plant is expected to cut the

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Gas International Oil Petroleum

Aliko Dangote loses nearly 6 billion USD following the devaluation of the Naira

Figured at 21.2 billion dollars at the beginning of the year 2023, the fortune of the Nigerian billionaire and the richest man in Africa, Aliko Dangote, recorded a fall of almost 6 billion dollars, from 21 $15 billion following the devaluation of Nigeria’s national currency, the Naira. According to data from the Bloomberg agency based on the Billionaires Index method, this drop, the highest recorded since 2014, is tributary to the wake of the elimination

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