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Saudi Aramco has signed a new $10 billion standby revolving credit facilities (RCF) agreement as part of the company’s strategy of maintaining financial flexibility.The agreement replaces the existing $4 billion facilities agreement, which was signed in 2010.The facilities are divided into US dollar...






Italy’s STP Studi Tecnologie Progetti, which is doing the front end engineering and design (Feed) works on Shuaiba lube oil re-refining plant in Kuwait, has revealed that the Feed work will be completed this month.The project, which is being developed by Kuwait Lube Oil Manufacturing Company (KLOC...






The UAE plans to increase its gas import capacity and sees a fall in liquefied natural gas (LNG) prices as an incentive for many countries to diversify their gas supplies, the country’s energy minister said."In the future we will be increasing the amount of LNG or the capacity to import. This is to...






A comprehensive study on overhauling the subsidy system is currently underway at Cabinet level in Bahrain, Information Affairs Minister and official government spokesman Isa Al Hammadi said.Expatriates and private companies, not Bahrainis, will be affected by subsidy cuts, he confirmed during a...







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