Iraq targets record exports
SINGAPORE: Iraq plans to export a record volume of crude from its southern ports in June, as it splits its production into two grades for the first time to resolve quality issues, trade sources familiar with the matter said. The No 2 Opec producer has allocated 3.1 million barrels per day (mbpd) of Basra crude to buyers in a preliminary June loading programme, up from the usual monthly total of between 2.6 million and 2.7 mbpd, they said.
Equate wins HSE awards
KUWAIT: Kuwait-based Equate Petrochemical company has won four Gulf-level Excellence Awards in recognition of its pioneering role in health, safety and Environment (HSE) from the American Society of Safety Engineers (ASSE) – Kuwait Chapter. The honours included the ‘HSE Excellence Gold Award in Manufacturing’, ‘HSE Management Initiative Excellence Award’, ‘Corporate Social Responsibility Excellence Award’ and ‘Excellence in Environment Award.’
Iran’s largest solar plant
IRAN: Iran’s largest solar power plant is expected to be operational and linked to the national grid in the next two years, said Mehrdad Tabegar, an official of the company implementing the project. He said the Iranian photovoltaic power station is being constructed in Aras Free Trade-Industrial Zone in the northwestern province of East Azarbaijan. The power plant, which will spread over an area of 3,423 sq m on completion, will be the country’s largest solar power plant, it added.
OOC to restructure
MUSCAT: State-owned energy investment firm Oman Oil Co (OOC) will announce a new structure later this year, chief executive Issam Al Zadjali told reporters. “With the new structure, the company will be focusing more on Duqm, managing our international assets and selling some of our assets by privatising some of OOC’s daughter companies,” he said. Zadjali did not specify which companies might be privatised.
Orpic breaks ground
MUSCAT: Oman Oil Refineries and Petroleum Industries Company (Orpic) has broken ground on its $320-million Al Jifnain Terminal project, which involves the construction of a new two-way 290-km-long multi-product pipeline. Orpic’s Muscat-Sohar Products Pipeline (MSPP) and Al Jifnain Terminal project aims to connect the company’s existing Mina Al Fahal refinery, with refineries in the Sohar region of Oman, reported the Oman Observer.
Phoenix Power offers IPO
MUSCAT: Oman’s Phoenix Power Co, owner of the sultanate’s largest power plant, has opened subscription for an initial share sale that would raise RO56.3 million ($146.3 million) from a 35 per cent stake, the Times of Oman newspaper reported.
