Dubai’s financial sector could benefit from Hamburg’s experience in the insurance sector, ship financing and corporate governance, while opportunities exist for the emirate to export its expertise in Islamic finance to the German city, business leaders speaking at the 3rd Dubai-Hamburg Business Foru
Canada’s GeoGlobal Resources Inc. is facing disputes over its stakes in Israeli offshore gas exploration licenses. On Tuesday, Myra and Sarah license holders Modiin Energy LP and Israel Land Development Company Energy Ltd. announced that GGR had not transferred the money by the deadline for the acqu
(Bloomberg) – Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, will miss this year’s production target because of safety work on offshore rigs. Petrobras, as the company is known, won’t achieve average output of 2.1 million barrels a day this year, Chief Executive Officer Jose Sergio
Future growth in world energy demand is a cause for optimism because it will signal economic recovery and progress, Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation, said today at the 20th World Petroleum Congress in Doha, Qatar. ExxonMobil is forecasting the global
Abu Dhabi Port Company announced that one of the largest container vessels seen at Mina Zayed in Abu Dhabi has berthed at the city port. The Ever Shine from the Evergreen line measures three hundred metres in length, and forty three metres in width. Her DWT (deadweight) is nearly 80,000 tons and she
Polarcus Limited announces that the Company has signed a Letter of Intent with TGS-NOPEC Geophysical Company ASA (TGS) for the charter of the 12 – 14 streamer 3D seismic vessel POLARCUS AMANI. The charter, of minimum 5 months duration and subject to the execution of a service contract, will commence
UAE based company specializing in high-end towed streamer data acquisition, Polarcus Limited, has signed a Letter of Intent with an undisclosed client for a 3D seismic acquisition project offshore West Africa. The project, to be acquired by ULSTEIN SX124 design vessel, Polarcus Nadia, will start thi
Polarcus Limited announces that the Company has signed a Letter of Intent with TGS-NOPEC Geophysical Company ASA (TGS) for the charter of the 12 – 14 streamer 3D seismic vessel POLARCUS AMANI. The charter, of minimum 5 months duration and subject to the execution of a service contract, will commence
Polarcus Limited, a Dubai-based marine geophysical company, has signed a Letter of Intent with TGS-NOPEC Geophysical Company ASA (TGS) for the charter of the 12 – 14 streamer 3D seismic vessel POLARCUS AMANI. The charter, of minimum 5 months duration and subject to the execution of a service contrac
TWMA, a provider of complete waste management technologies and services to the global oil and gas industry has today appointed Danny Murray to the newly created position of business development manager for the Middle East and North Africa (MENA). This move comes as TWMA announces its plans to set up
DP World has announced its intention to expand flagship port Jebel Ali in the UAE by creating an additional 4 million TEU capacity, resulting in total capacity at Jebel Ali reaching 19 million TEU by 2014. DP World will be investing around $850 million over three years adapting 1,860 metres of quays
Adira Energy Ltd. has entered into a series of agreements to farm-out part of its interest in the Yitzhak license (the “License”) to strengthen its operating and business profile in the License and to reduce its working interest from 85% to 60%. Adira has entered into a Farm-out Agreement with the A
Danny Murray has been appointed to the newly created position of business development manager for the Middle East and North Africa. This move comes as TWMA announces its plans to set up a base in Dubai as part of its continuing growth strategy. Mr Murray joins the team at TWMA with over 20 years exp
When the shell plating of a 300-meter bulker was indented over a length of 150 meters after a grounding in the Suez Canal, a large crack 1.5 meters long appeared, making it impossible for the vessel to sail any further. To close off the crack and allow the vessel to continue its route, Hydrex sent [
