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Middle East

Fire Breaks Out Aboard USS Devastator

Mine countermeasure ship USS Devastator (MCM 6) (U.S. Navy photo by Corbin J. Shea)

A fire broke out aboard the mine countermeasures ship USS Devastator (MCM 6) while the ship was pierside at Naval Support Activity (NSA) Bahrain at approximately 8 p.m. local, March 14, the U.S. Navy said. No personnel injuries were reported.The ship declared the fire out at approximately 9 p.m. local,

Pirates Thwarted in the Gulf of Aden

Iranian naval forces intervened to repel pirates who attacked an Iranian oil tanker in the Gulf of Aden, state television reported on Friday.The broadcast said pirates in 11 speedboats attacked a tanker with a cargo of 150,000 metric tons on Thursday. It showed naval forces opening fire on speedboats,

Oman: Gas Production to Surpass Oil by 2023

Graph: Rystad Energy

Oman’s gas production levels are set to surpass oil by 2023 thanks to an impressive surge in the development of gas fields in the sultanate, according to Rystad Energy, the independent energy research and consulting firm headquartered in Norway.“Gas is on the rise in the Arab country on

Gulf Craft Unveils Majesty 175

Image: Gulf Craft

UAE builder Gulf Craft announced that the 54-metre concept Majesty 175 is currently being constructed by UAE builder Gulf Craft at the company’s Umm Al Quwain facility, with her delivery scheduled to the end of 2019.The completion process of the largest yacht “Made in UAE”, is going at a fast pace,

Ferretti strengthens Middle East Presence

Image: Ferretti Group

Ferretti Group, player in the international boating industry, Group aims to further strengthen its position with the start of a new partnership with Ocean 360.Ferretti considers the Middle East market as an excellent breeding ground for high-end motor yachts. Through this agreement, Ferretti wants to

Milaha Net Profit Up 10%

Abdulrahman Essa Al-Mannai. President and CEO. Photo: Milaha

Qatar-based maritime transport and logistics company Qatar Navigation (Milaha) reported  a 10% rise in its net profit  for the twelve months ended December 31, 2018.The Middle East maritime and logistics company delivered a net profit of QAR 516 million (USD 141.7 million) for the twelve months ended December 31,

Adnoc Signs USD4bln Pipeline Deal

Photo: Abu Dhabi National Oil Company

Abu Dhabi State-Owned Oil Company Adnoc has sealed a $4 billion midstream pipeline infrastructure deal with BlackRock, the world's largest asset manager, and private equity firm KKR & Co.The Middle East national oil company said that the transaction includes the creation of Adnoc Oil Pipelines,

Fincantieri in Pact with Abu Dhabi Shippbuilding

Image: Abu Dhabi Ship Building

Italian shipbuilder Fincantieri and Abu Dhabi Shipbuilding (ADSB) have reached a framework agreement to explore future forms of industrial and trade collaboration in the shipbuilding sector in the UAE.The accord is part of Fincantieri's development strategy in the Middle East based on fostering

Adnoc's Fleet to Add 25 Vessels

Photo: Adnoc

Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, a member of Abu Dhabi's Executive Council and Supreme Petroleum Council and Chairman of the Abu Dhabi Department of Transport, inaugurated the latest addition to Adnoc Logistics & Services' shipping fleet.The Abu Dhabi-based provider of shipping,

Nakilat, McDermott Form Fabrication JV

Image: Nakilat

Qatar's Nakilat and McDermott are establishing a 60:40 joint-venture (JV) company that provides offshore and onshore fabrication services in Qatar."The strategic partnership aims at increasing productivity levels at Nakilat’s world-class Erhama Bin Jaber Al Jalahma Shipyard and developing

Saudi Aramco, Total in USD1bln Pact

Group photo of Saudi Aramco management and Total management

Saudi Aramco and Total hasve signed a joint venture agreement to develop a network of fuel and retail services in Saudi Arabia.The 50:50 JV plans to invest around $1 billion over the next six years in the Saudi fuel retail market and start providing motorists with premium fuels and retail services in the Guf kingdom.

King Abdullah Port Inaugurated

Pic: King Abdullah Port

Saudi Crown Prince, Deputy Premier and Defence Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud inaugurated the King Abdullah Port in Rabigh.The Saudi Arabia’s State News Agency (SPA) reported that Saudi Arabia moved one step closer to its goal of becoming a global logistics hub with launch of the King Abdullah Port.

LNG Demand to Reach 600 MT in 2035

Image: Qatargas

The energy demand would continue to grow driven by emerging economies and the projected growth in global population, which will touch nine billion by 2040.LNG demand is expected to increase at an average four per cent annually to reach more than 600 million tonnes in 2035 versus 290 million tonnes in 2017,

Qatar’s LNG to Reach 110 MTPA

Image: Qatar Gas

Qatar plans to raise its liquefied natural gas (LNG) production to 110 million tonnes per year by 2023.A report in Mubasher cited Qatargas’ CEO saying that there are many LNG projects under execution but they still do not meet the rising demands.Qatargas, the largest LNG producer in the world,

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