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oil and energy

Stalled Aramco IPO sets back deal-making at Motiva

Houston - Saudi Aramco’s delayed initial public offering is sidelining grand North American expansion plans at its U.S. refining subsidiary Motiva Enterprises LLC, people familiar with the matter said, at a time when its rivals grew their market share


Diversification means growth for DP World

Dubai - This week, DP World announced a year-over-year revenue increase that would be large for any sector, and perhaps exceptionally large for ports. Worldwide, the global terminal operator saw revenues rise by 20%


EU and Qatar reach aviation agreement

Brussels - The European Commission and the State of Qatar initialled today an aviation agreement, the first such agreement between the EU and a partner from the Gulf region


UAE eases Qatar shipping ban amid continuing dispute

Dubai - The United Arab Emirates has eased a ban on the shipping of goods between it and Qatar enforced under a political and economic boycott of Doha, according to port circulars and an industry source


DP World acquires P&O Ferries

Dubai - The terminal and logistic company DP World has announced the acquisition of the holding company of P&O Ferries and P&O Ferrymasters (together P&O Ferries) for a purchase consideration of 322 million pounds, 421 million dollars


DP World’s growth slows down

Dubai - Dubai’s port operator DP World handled 71.4 million TEUs in 2018, with gross container volumes growing by 1.9% year-on-year. The United Arab Emirates handles 15 million TEUs, down 2.7% compared to 2017


Disappointing factory activity threatens global growth

London - Factory activity was at its weakest in years across much of the world during January, adding to worries trade tariffs, political uncertainty and cooling demand poses an increasing threat to global growth


Oman Shipping mulls further ship investments

Muscat - Following last week’s order for two very large crude carriers (VLCC) placed with South Korean shipyard Daewoo Shipbuilding Marine Engineering (DSME), Oman Shipping Company is set on growing its fleet further

oil and energy

Iran discovers oil in Abadan region

Geneva - Iran has discovered oil in the southwestern Abadan region for the first time, Oil Minister Bijan Zanganeh was quoted as saying by the Mehr news agency on Wednesday.


Pirate attacks multiply in the Gulf of Guinea

London - Piracy increased on the world’s seas in 2018, with a marked rise in attacks against ships and crews around West Africa, the International Chamber of Commerce’s International Maritime Bureau’s (IMB) latest annual piracy report reveals