DUBAI, UAE: ADES International Holding, a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has extended the contract for ADMARINE 261 in Saudi Arabia. The performance of the high-efficiency jack-up rig ADMARINE 261 has resulted in a contract extension of one-year tenor, which will be effective…
Anglo African Oil & Gas terminates Investor Sharing Agreement
LONDON: Anglo African Oil & Gas (AAOG) has consented to the sale, by Riverfort Global Opportunities PCC and YA II PN Ltd (the ISA Investors), of the remaining 84,041,011 ordinary shares of £0.001 each in the capital of the Company held by the ISA Investors at a price of 0.5p per ISA Share for a…
Directa signs R&D agreement with Comerio Ercole
LONDON, UK: Directa Plus has signed an agreement with Comerio Ercole SpA (Comerio) to pursue joint research and development projects using the Company’s G+ technology to develop products in the rubber and tyres, plastic and non-woven materials industries. Directa Plus is a producer and supplier of graphene nanoplatelets based products for use in consumer and…
Total S.A to develop 800 MWp solar power plant in Qatar
PARIS–(BUSINESS WIRE)—Total S.A has entered into agreements for the development of the Al Kharsaah Solar PV IPP Project, an 800 megawatt-peak (MWp) solar plant that will be located 80 kilometers west of Doha, Qatar. The project was awarded to a consortium of Total (49%) and Marubeni (51%) as the result of the country’s first solar…
Etalon Group opts for Moscow Exchange listing
MOSCOW: Etalon Group Plc has submitted documents, including a prospectus, to Moscow Exchange in order to undertake a listing of Etalon Group global depositary receipts (GDRs) on Moscow Exchange and the inclusion of these securities in the Level 1 List. Pending approval of the listing documents and admittance to trading on Moscow Exchange, Etalon Group…
KAHRAMAA agrees to buy electricity from Siraj Energy’s large scale solar plant
DOHA, QATAR: Qatar General Electricity & Water Corporation (KAHRAMAA) and Siraj Energy have signed an agreement of Al-Kharsa’a Large-Scale Solar PV Power Plant, for power purchase and project company. Under this agreement, KAHRAMAA in its capacity as the Transmission and Distribution System Owner and Operator (TDSOO) will buy electricity from Siraj1: the Project Company of…
Latin American insurance markets could see boost in 2020
NEW YORK: Global insurance industry credit rating agency, AM Best expects Latin America’s economies to rebound somewhat in 2020, which would help the insurance markets in these countries better realize their growth potential. In a new Special Report, titled, “Latin America: Economic and Political Risks May Subside in 2020,” AM Best notes that countries in…
TDAP to participate at Automechanika Istanbul 2020
KARACHI: The automotive industry is one of the four “locomotives” of the Turkish economy. It assembles some of the country’s largest exporters and represents one of the leading investor industries. Trade development authority of Pakistan (TDAP) will participate with Pakistan pavilion in Automechanika Istanbul 02-05, 2020. TDAP is providing subsidized stalls to increase the exports…
PIA partners, provider of air-rail intermodal solutions, AccesRail
KARACHI: Pakistan International Airlines (PIA) has announced a major new partnership with AccesRail, the world’s leading provider of air-rail intermodal solutions, a press release said on Thursday. The partnership will allow PIA to use AccesRail’s expertise to enable its customers to book train tickets in UK, Spain, Norway and Canada by using PIA’s booking platform,…
Louis Vuitton to polish the historic 1758 carat Sewelô
VANCOUVER: Lucara Diamond Corp. has entered into a collaboration with Louis Vuitton (LV) to manufacture its historic, record setting, 1758 carat Sewelô diamond recovered from its 100% owned Karowe Diamond Mine in Botswana in April 2019. Sewelô, which means “rare find” in Setswana, is the second, +1000 carat diamond recovered from Karowe in four years…
Petrofac appointed for Seagreen wind farm substations
LONDON: Petrofac Limited, a leading international service provider to the oil and gas production and processing industry, has entered into a Preferred Supplier Agreement with SSE Renewables to design, supply and install the HVAC onshore and offshore substations for the Seagreen wind farm project. The wind farm will be located 27 kilometres off the coast…
Vertu acquires Volkswagen dealerships in West Yorkshire for £8.8 million
LONDON: Vertu Motors plc, the automotive retailer across the UK, has acquired trade and assets of four Volkswagen Passenger car dealerships in West Yorkshire from Goodman Retail Limited, a trading subsidiary of Sytner Group Limited. Total consideration is expected to be approximately £8.8 million, and the Board expects the acquisition to be earnings enhancing in…