Energy

2 May 2012 (Geneva) - The International Air Transport Association (IATA) announced global traffic results for March showing that total passenger demand rose 7.6% and freight demand climbed 0.3% compared to the same month last year.

Comparisons with March last year are affected by events that depressed passenger demand in 2011, including the Arab Spring, which disrupted travel in the Middle East and North Africa beginning in February 2011 and the earthquake and tsunami in Japan in March 2011 that impacted air travel across the Asia-Pacific region. IATA estimates that the year-on-year rise in air travel in March was about two percentage points higher than it would otherwise have been in the absence of these events.

Al Khobar, 23 April 2012 – International Power (owned 70% by GDF SUEZ) and Saudi Oger Ltd.announced the signing of the Energy Conversion Agreements (ECAs) for an expansion of their joint venture’s Tihama power plants in the Kingdom of Saudi Arabia, following an award from Saudi Arabian Oil Company (‘Saudi Aramco’).

The expansion of 532 MW and 868 tons/hr of steam at three of Tihama’s four sites ‐ Ju’aymah, Shedgum and Uthmaniyah ‐ located at Saudi Aramco’s gas and oil refineries will be backed by long‐term ECAs through to 2026.

Engineering, Procurement and Construction will be carried out by Hyundai Heavy Industries of South Korea and General Electric will supply the gas turbines. Importantly, the technology to be used for the expansion will ensure additional power output with lower carbon footprint. Construction at all three sites is expected to start in May 2012 with a phased commencement of commercial operations between late 2014 and mid 2015.

Regional growth remains strong, although below exceptional 2011 level.
G C C b a n k s s e e n a s w e ll c a p it a li z e d a n d p r o f it a b le .

Dubai, UAE & Washington DC, April 18, 2012 - The Gulf Cooperation Council (GCC) countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE), possessing 40% of proven world oil reserves, have spare oil production capacity now of 2.5 to 3 million barrels per day and are positioned to meet any possible shortfall in supplies to world markets as a result of possible declines in Iranian exports as a result of sanctions, said the Institute of International Finance (IIF).

The IIF is the leading global association of financial services firms with more than 450 member institutions. It expects that average oil prices will be about $114 per barrel through 2012 with GCC oil production this year at 17.3 million barrels per day, after 16.5 million in 2011. The IIF forecasts that the GCC's external current account surplus is likely to rise to a new record of $358 billion this year, up from an estimated $327 billion in 2011.

-    Abraaj Capital’s investment to support Kuwait Energy’s development and growth plans to scale up ahead of future IPO

-    Backing Kuwait Energy’s strong management team to create regional independent upstream oil & gas champion

Dubai, UAE, April 10, 2012:   Abraaj Capital, a leading private equity manager investing in high growth markets, and Kuwait Energy, one of the fastest growing independent upstream oil and gas exploration and production companies in the Middle East, today announced an Agreement in which Abraaj Capital’s APEF IV Fund would support a strategic investment in Kuwait Energy. Abraaj Capital’s investment, through APEF IV, will enable Kuwait Energy’s ongoing growth and development plans and facilitate its emergence as a regional independent exploration and production (E&P) pioneer with world-class expertise.

On Monday, April 16, pioneer and leading exhibitions and conferences organiser Omanexpo will present a surprising but interesting twist to the otherwise traditional inauguration ceremony of the much-awaited OGWA (Oil & Gas West Asia) 2012. This is part of the company’s initiatives to take its shows to a new level by implementing significant changes that reflect the importance that it is giving to the industry.

OGWA, established and recognised as one of the biggest and most significant oil and gas events in the Middle East region, will be formally opened by the personal representative of His Majesty Sultan Qaboos, His Highness Sayyid As’ad bin Tariq bin Taimur al Said at the Oman International Exhibition Centre.

The inauguration entourage, consisting of the most distinguished dignitaries, ministers, ambassadors, diplomatic corps members, and executives of the SABCO Group, will convene at the Al Hossen Ballroom of the Golden Tulip Hotel and will commence with a welcome speech by Dr. Zaid Al Siyabi, Chairman of the OGWA 2012 SPE EOR Conference. It will also include executive speeches by PDO Managing Director Raoul Restucci and 2012 SPE President Alan Labastie.

Global product training held in Sharjah, UAE,

28 March 2012, Sharjah, UAE: Kingston Holdings, the  region’s leading  promoter of energy efficient solutions, recently hosted a three day intensive training session with joint venture partner Pierlight for its resellers from around the world to mark the launch of a new range of Intelligent Lighting Products. Expert staff from Australia made the journey to Sharjah to conduct the training.

Pierlite Middle East has launched a new range of Intelligent Lighting Products (ILP), which work to reduce the cost of unwanted lighting and energy consumption through motion sensitivity, helping to reduce operating costs for customers and substantially decrease energy waste.

•    $200 Million Contract for New Units will Convert Facility from Simple to Combined-Cycle
•    Project to Increase Plant Capacity by More Than 50 Percent and add 1,300 Megawatts to the Saudi Grid
•    Demonstrates GE Commitment to Support SEC In Meeting the Kingdom’s  Growing Energy Requirements

RIYADH, SAUDI ARABIA – March 27, 2012 – GE (NYSE:GE) has received a contract for nearly $200 million to supply  steam turbine technology, power generation services and distributed control systems for the conversion of Saudi Electricity Company’s (SEC) PP10 power plant from simple to combined-cycle operation. The project will add 1,300 megawatts to the plant’s capacity, to support the growing power requirements of Saudi Arabia’s central region and help the Kingdom meet summer peak demands.

Shell’s presence at WETEX 2012 raises awareness of the need to use less and emit less, in addition to finding innovative replacements for carbon-based liquid fuels by providing customers with fuel and lubricant solutions that promise to save on energy, cost and the environment

March 20, 2012

In line with His Highness Sheikh Mohamed bin Rashid Al Maktoum’s, Vice-President and Prime Minister and Ruler of Dubai, initiative “Green Economy For Sustainable Development”, Shell’s work on developing environmentally friendly lubricants and commercial fuels that save on energy, engine life, and cost were showcased at this year’s Water, Energy, Technology and Environment Exhibition (WETEX).