GulfNav Unveils Expansion Plans
Gulf Navigation Holding PJSC (GulfNav), the Dubai-based shipping company, has announced in a press conference at Rose Rayhaan by Rotana today (Tuesday, April 19, 2016), its key expansion plans to increase its assets under management and service-based revenue.
Kongsberg to Equip 2 New Jack-Up Vessels
Kongsberg has been selected to deliver a complete Electro, Instrument & Telecom (EIT), propulsion, safety, automation and dynamic positioning package for two new Gusto NG-2500X DP II design, offshore construction Jack-Up vessels. The vessels are owned by Vahana Offshore Pte Ltd in Singapore.
Lower Oil Price Effect on GCC Economies in 2015
The Brent oil price per barrel lost more than 50% of its value from $114 in June 2014 to the current price of about $50. Coface expects it to average at $75 on average in 2015. This bearish trend is pressurizing the hydrocarbon sector in…
Tanzania Receives Five Bids for Oil & Gas Blocks
Russian, Chinese firms submit bids. Four blocks fail to attract bidders. Tanzania, a hotspot for natural gas exploration, has received five bids for just half of the eight oil and gas blocks it offered in its latest bidding round, its upstream regulator said on Wednesday.
