New base 772 special 25 january 2016

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NewBase 25 January 2016 - Issue No. 772 Edited & Produced by: Khaled Al Awadi

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Saudi Aramco chairman says IPO could be open to international markets Reuters

An initial public offering of Saudi Aramco , the world's biggest oil company, could be on the local or international markets but would not include Saudi energy reserves, the company's chairman told Saudi-owned al-Arabiya television.

"The reserves would not be sold, but the company's ability to produce from the reserves is being studied," Khalid al-Falih told the channel in an interview from Davos, Switzerland where the annual World Economic Forum was held last week.

In an interview with The Economist earlier this month, Saudi Deputy Crown Prince Mohammed bin Salman said Riyadh might sell shares in Aramco as part of a privatisation drive. Aramco has crude reserves estimated at about 265 billion barrels, over 15 percent of all global oil deposits, so it could become the first listed company valued at $1 trillion or more if it went public, analysts have estimated. But several sources familiar with official thinking told Reuters that Aramco's massive size, and the confidentiality surrounding it as the main instrument of the kingdom's oil policy, pose hurdles to any listing of the parent firm. They said Saudi Arabia is considering selling shares in refining ventures with foreign oil firms.

Falih said there would be legal studies to make sure that what is offered is not the kingdom's crude reserves "but the company's ability to convert the production of these reserves to a financial value that the owners can benefit from.

"The economic value of Saudi Aramco as a company is what will be offered. Naturally, the primary field of Saudi Aramco's work is managing the reserves of Saudi Arabia," Falih said. "The reserves belong to the state but the company's ability to convert these reserves... into a financial value and at the same time for the company to have a portion of these profits will be part of the value of the company," he told Arabiya.




GCC: Is a wave of privatisation about to sweep the GCC? The National - Mohammed Salih Al Hashemi - is the executive director of asset management at Abu Dhabi Investment Company

Investors have been anticipating the privatisation of GCC state-owned assets, which would open up billions of dollars to foreign investment, as speculation rises that some regional governments are looking to counter the effect of the falling oil price by tapping into their vast hidden wealth.

Government budgets have been hit by the near 70 per cent decline in the price of oil over the past 18 months, and GCC governments have so far been focusing on ways to plug their deficits through economic reforms that will help them cut costs. These include the removal of state subsidies on fuel and utilities, cuts in government spending and the planned introduction of value-added tax and corporate tax in 2017 and 2018.

But governments are also looking for ways to raise money. They need to maintain spending on essential projects that will help to boost economic growth, such as in the healthcare, social housing and education sectors.

Rumours are circulating that Saudi decision-makers are considering the listing of the state-owned oil giant Saudi Aramco, estimated to be valued between US$1.5 trillion and $5tn. And talk of the Saudi Stock Exchange (Tadawul) and Saudi Arabia’s Grain Silos and Flour Mills Organisation considering initial public offerings has further excited market participants. While most of the speculation about potential privatisation has revolved around Saudi Arabia, Oman and Bahrain have also hinted at listing some of their state-owned enterprises.

Both of the latter countries have little or no hydrocarbon exports, but their economies have been facing challenges of their own. Simmering unrest in Bahrain has hampered its economy, and long-standing privatisation candidates include Gulf Air and Bahrain Airport Company.

In Oman, government-owned companies across a wide range of sectors have been touted as candidates for possible privatisation, including Oman Airports Management Company, Oman Air, Oman Oil Refiners and Petroleum Industries, the postal service and power generation enterprises.

Expectations of privatisation in the UAE, Qatar and Kuwait, on the other hand, have been unsurprisingly muted because of their very different financial positions. The three countries have amassed significant financial assets relative to the size of their economies in domestic and foreign reserves and investments over the past decade. These reserves are readily available sources of capital, and will act as buffers against falling oil revenue.

The size of their economies, and the budget deficits that arose last year, are of a much smaller magnitude (low-to-mid single digits as a percentage of GDP) when compared to Saudi Arabia ($98 billion, or 15 per cent of GDP, with an $87bn deficit predicted for this year).

Saudi Arabia’s foreign sovereign wealth reserves, held through the Saudi Arabian Monetary Agency, are estimated at $650bn. While they are by no means small, they are considered insufficient for the kingdom to solely rely upon in the context of a prolonged period of lower oil prices and current rate of government spending.

The IMF expects that the kingdom is likely to exhaust all its reserves in just a few years if no other measures are taken, and unless it changes its public spending plans materially. This helps to make a more compelling case for Saudi decision-makers to look at other means of funding in a period of low oil prices. In Saudi Arabia at least, privatisation will continue to top the agenda for the foreseeable future.




Qatar: GE Oil & Gas, Qafco in gas turbines’ maintenance deal Gulf Times

GE Oil & Gas yesterday said its Downstream Technology Solutions (DTS) business had been awarded a 15-year technical development partnership agreement by Qatar Fertiliser Company (Qafco).

In this strategic agreement, DTS will bring GE Oil & Gas competencies to mark the first regional installation of its advanced ‘32 K Extendor Combustion System’ that will enable Qafco to strengthen the operational efficiency of its gas turbines. GE Oil & Gas will supply the parts for the project with the first installation set for 2017, while modification, repair and field services will be provided through Qatar-based experts.

GE Oil & Gas has an installed base of six FR6 gas turbines, some 31 centrifugal compressors, 16 steam turbines and 16 pumps across Qafco plants. The agreement will help in scaling-up the operational efficiency of the gas turbines, adding to improved plant operations and higher levels of productivity.

Qafco chief executive officer Khalifa A al-Sowaidi said, “We seek advanced solutions and on-ground support to strengthen efficiency and optimise resource use across our plants. To achieve consistently high levels of productivity, it is important that we extend maintenance intervals through proven technology.

GE Oil & Gas has been a long-term partner, and with the new solution that is implemented at Qafco for the first time in the region, we also gain from the localised expertise and support that GE brings.”

Rami Qasem, President & CEO, GE Oil & Gas for the Middle East, North Africa and Turkey, said: “Installing the first Extendor Combustion Supply kit in the region at Qafco demonstrates our commitment to deliver the best-in-class technology solution and underlines the long-term partnership between GE and Qafco, which extends for 40 years. The comprehensive upgrade, repairing and maintenance, led by our Qatar-based team, will support Qafco by significantly reducing the combustion component wear & tear of the turbines and increasing the meantime between maintenance.”

The new agreement builds on earlier long-term service contract signed between GE Oil & Gas DTS and Qafco to optimise the performance of its plant in Mesaieed last year, further underlining GE’s localisation commitment.

Qatar is one of the important markets of GE in the Middle East region, where the company has been playing a key role in energy infrastructure development including power, water and oil & gas for nearly four decades. The Qatar Service Centre of GE Oil & Gas in Ras Laffan is a center of excellence that serves as a technology hub for the region. Today, through three offices and over 300 employees, GE serves the energy, water technologies and healthcare businesses, which contribute to the overall economic and social growth of the country.




Egypt: revives manufacturing for wind turbine plans The National - LeAnne Graves

Egypt has set its sights on becoming a regional manufacturing hub for wind energy despite delays in the country’s renewable energy targets.

Multinational companies such as Siemens and General Electric are looking to develop wind energy manufacturing plants in Egypt while a local company, El Sewedy Electric, is keen to revive pre-revolution plans.

The North African country wants to install 2,000 megawatts of wind energy by 2022, as part of its 4,300MW total goal of renewables that also include 2,000MW of solar and 300MW of hydropower. Egypt had planned to have renewables make up 20 per cent of its total energy mix by 2020, but that target has been pushed back.

Yet the country remains attractive for investors after it signed deals totaling more than US$138 billion in March.

“GE is really excited about Egypt as an investment,” Timothy Richards, the head

of government affairs at General Electric, said last week at the World Future Energy Summit in Abu Dhabi. He pointed to the company’s deal signed in March to build a $200 million facility, which will have manufacturing and training facilities.

“As we develop more wind projects in Egypt, we will be manufacturing components while also training field engineers and others interested in developing technical skills,” he said.

Siemens has also signed deals totaling €8bn (Dh31.72bn). “We see great potential for wind energy as a significant source of electricity generation in the Middle East. Egypt, Morocco and Jordan are currently driving this development,” said Emad Ghaly, the senior executive vice president of wind and renewables at Siemens Middle East.

Siemens will build up to 12 wind farms in Egypt – about 600 turbines.

“As part of this project we will also construct a rotor blade manufacturing facility in Ain Sukhna in Egypt, which will train and employ up to 1,000 people. This facility is part of our commitment to the Middle East’s renewable and sustainable energy development and will be a hub for Siemens wind technology and expertise for future projects in the region,” Mr Ghaly said.

However, this is not the first time companies have looked at Egypt to set up a wind components production industry.

El Sewedy had set its sights on setting up a subsidiary, Sweg, in 2009. It wanted to establish three factories within five years to manufacture towers and blades for export to Africa, the Middle East and Europe.




However, Sweg faced setbacks because of the political instability that followed in 2011. “Every business has its own risks,” said Wael Hamdy, vice president of El Sewedy. “We made big steps in the [right] direction, but unfortunately, it wasn’t good enough.”

He said that original expansion plans were put on hold, but are now being revived. “Fortunately under the current plans and policy with the development of the sector, we were able to meet some of our targets and are currently expanding our facility for wind towers,” Mr Hamdy said.

El Sewedy makes seven wind towers each month, with plans to increase that to 13 in the next four months. It plans to double the output in the next phase, but did not provide a time frame.

“I see big potential for this market in Egypt and for the region over the next few years, and therefore, we’re taking very seriously big plans for expansion.”

Mr Hamdy said that companies such as GE and Siemens coming into the sector is just another reason for faster development in the manufacturing sector. “The market will be too big in the future and there will need to be other players,” he said.

According to Mr Richards at GE, renewable energy is equivalent to an “energy insurance policy” because it avoids the whims of the marketplace over time.




Norway Holds Talks on Economic Cost of Oil's Plunge ‘No Crisis’ Bloomberg - Saleha Mohsin

Norway’s prime minister, finance minister and central bank governor are holding an extraordinary meeting to assess just how bad the deepening plunge in the price of oil will be for the overall economy of western Europe’s biggest petroleum producer.

The premier and the finance minister will also later meet with economists on Monday to “discuss the economic situation,” according to a statement from the prime minister’s office. The meetings start at 10 a.m.

Policy makers have so far avoided using the word crisis in assessing the state of the economy, saying that stabilizers such as the weakening krone, lower interest rates and record fiscal stimulus are kicking in to pick up the slack. Yet they have lately acknowledged that the nation’s oil industry is in a crisis and that the almost 30,000 jobs now lost won’t all come back.

“We still have economic growth in Norway,” Prime Minister Erna Solberg said in an interview with Bloomberg Friday in Davos. “When the oil price falls our currency has depreciated, it means that other parts of our economy are picking up but of course it’s at a lower level than it has been in the last years.”

The economy is being helped by its weak currency, which is down about 15 percent from a high against the euro last year, to withstand a plunge in the price of oil. The country gets about one-fifth of its economic output from the petroleum industry. The price for the benchmark Brent oil blend reached a 12-year low of $27.10 last week, compared with a 2014 high of $115.




Solberg said that while the nation’s oil industry is in a “crisis,” the overall economy is not. The government is spending a record amount of its oil wealth this year to stimulate growth and is even dipping into its massive sovereign wealth fund for the first time.

The central bank has also said it stands ready to lower interest rates further, after last year halving its benchmark to 0.75 percent. Nordea Bank said lower rates, stimulus and weak krone will be enough keep the economy from an all-out crisis.

“Markets are already priced for further easing from Norges Bank,” Aurelija Augulyte, a macro strategist at Nordea Markets, said by phone Sunday. “That, with the current fiscal program and additional support from exports may outweigh the negative” aspects of the economy, she said.

Solberg even said on Friday that the currency had now weakened enough to help keep up momentum. Nordea also agreed that the

economy could tolerate some krone strengthening. “We don’t see a hard landing, just a gradual one,” said Augulyte.




Japan Oil Imports Fall to Lowest Since 1988 as Demand Drops Bloomberg - Tsuyoshi Inajima

Japan’s crude oil imports last year fell to the lowest level since 1988 as demand weakens amid a declining population and more efficient vehicles. The world’s third-biggest economy imported in 2015, a 2.3 percent drop from the previous year, according to preliminary data from the Ministry of Finance on Monday. That’s the lowest since 1988 when the nation imported 192.2 million kiloliters, data from the ministry shows.

Japan’s oil-product demand peaked in fiscal year 1999 and has been in decline as the populace shrinks and as auto manufacturers build more fuel efficient vehicles, forcing refiners to cut capacity and consolidate. Demand for fuels like gasoline and diesel is forecast to fall by an average 1.3 percent annually through the year ending March 2020, the Ministry of Economy, Trade and Industry saidin April.

Japan bought about 82 percent of its total oil imports from the Middle East last year, 1.2 percentage points less than a year earlier, according to the Ministry of Finance. Meanwhile, Russia increased its share by 0.7 percentage points to 8.8 percent in 2015, according to the data.

Brent crude, the benchmark for more than half the world’s oil, fell 35 percent last year as the Organization of Petroleum Exporting Countries effectively abandoned production limits to defend market share.

Japan paid about 8.18 trillion yen ($69 billion) for crude in 2015, down 41 percent from a year earlier, according to the Ministry of Finance data. Japan’s bill for LNG dropped 29.5 percent to 5.54 trillion yen.

LNG shipments fell 3.9 percent to 85 million metric tons last year, the firstdecline since 2009. Thermal coal imports rose 4.8 percent to a record 114 million metric tons, according to ministry data going back to 1988. Japan’s population has dropped the past seven years and last year fell to 126.9 million, the lowest since 2000, according to an estimate from the U.S. Census Bureau.

195.5 million kiloliters of oil, or about 3.37 million barrels a day




NewBase 25 January 2016 Khaled Al Awadi

NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

Crude extends gains after surge on short-covering, cold spell Reuters + NewBase

Crude oil futures extended gains on Monday following a surge at the end of last week on short-covering and fuel demand triggered by freezing weather in parts of the northern hemisphere. Oil prices soared 10 percent on Friday, one of the biggest daily rallies ever, as bearish traders who had taken out record short positions scrambled to close them, betting the market's long rout may finally be over.

Brent had gained 8 cents to $32.26 a barrel by 0221 GMT after touching $32.69 a barrel earlier in the day. It settled at $32.18 a barrel in the previous session. U.S. crude rose 5 cents to $32.24 a barrel, compared with its session-high of $32.64 and previous settlement at $32.19.

"A change in investor sentiment was the key factor, with speculative short positions in WTI falling from historically high levels the previous week," ANZ said in a note on Monday, referring to U.S. West Texas Intermediate crude.

"Low crude oil prices continue to negatively impact high cost U.S. oil producers. Indeed, recent Baker Hughes data suggested U.S. oil explorers idled more oil rigs this week." Reuters market analyst for commodities and energy technicals Wang Tao said on Monday that Brent oil faces resistance at $32.72 per barrel, and may hover below this level for one day or retrace to support at $30.98, before rising again.

Oil price special

coverage




Slow return of Iranian oil to global market seen Saudi Gazette

Western sanctions crippled Iran’s oil sector in the four years leading to 2016, losing around one million barrels per day of oil exports and production. With major sanctions lifted, more Persian crude will be available this year, but the pace and scale at which it will return into the market is unclear, economist at Asiya Investments Co said Sunday.

“In our view, the increase will be slower than generally expected,” Camille Accad of Asiya said.

Iranian officials have expressed their intention to increase the nation’s crude exports, first by 500,000 barrels per day, and by another 500,000 by year-end. Iran is capable of producing the oil needed to reach those targets. First, around twenty million barrels of crude oil are held in inventory, with half stored in tankers waiting to be shipped, according to EIA and IEA.

This is the equivalent of forty days of 500,000 barrels per day. Second, Iran will not be pressured by OPEC due to its current strategy of gaining market share. The likelihood of a joint OPEC decision to cut output is also low due to Iran’s rising tensions with Saudi Arabia.

Third, the agreement with the West will release frozen Iranian assets, estimated to be worth between $10 and $20 billion annually until 2020. These funds may be used to pay for much-needed investment in the sector. Fourth, Iran has improved conditions for foreign firms planning to invest in the country.

The outdated buyback contracting process is replaced by the new Iran Petroleum Contract whereby foreign companies will be able to sign longer term, less risky, deals that would not require the contractor to hand over their oil field work by the end of the project. A conference in London in February will reveal more details as Iranian officials plan to unveil a number of oil and gas projects worth more than $150 billion.




Overall, there are reasons to believe the country with the fourth largest proven oil reserves in the world has the ability to raise production to meet its export targets.

However, Iran’s plans might not materialize. On the demand side, the Chinese economic slowdown is contributing to the emerging market deceleration. Global oil demand is expected to be weak this year, with IEA and OPEC projecting a deceleration in oil consumption for 2016. On the supply front, Iran will also face difficulties.

First, Iran is still subject to a number of restrictions. Conducting US dollar transactions, dealing with the Iranian Revolutionary Guard Corps, which is heavily involved in the energy sector, and using American technology are still prohibited. Second, sanctions have deteriorated Iran’s upstream infrastructure, requiring massive investment in the sector.

Iranians claim $100 billion of investment is needed to bring oil production back to pre-sanction levels, compared with Western estimates of around $300 billion. Finally, Iran requires the investments of international oil companies to develop its oil exploration and production technology. However, with oil prices at multi-year lows, energy firms’ earnings are falling rapidly, forcing them to cut near-term capital expenditure.

IEA projects that, with the help of foreign investment, Iran could reach a production capacity of four million barrels per day by 2020. However, the current environment of low oil prices, geopolitical uncertainty and the outcome of the US elections in November may affect the pace of foreign investment into the country. In spite of the lift of sanctions, the safer bet for Iran is to rely in the Asian powers, which never stopped doing business there .




Oil ‘a blessing and curse for Russia’s economy’ AFP + Gulf News + NewBase

Abundant oil and gas deposits have been a blessing for Russia, but they now feel like a curse as low prices propel the country into a deep economic crisis that shows no signs of abating.

The rouble fell to a record dollar low this past week as global crude prices slumped to 12-year lows, highlighting at once Russia’s vulnerability to changing oil prices and the fact President Vladimir Putin’s government has squandered opportunities to diversify the economy.

Although the rouble bounced back on Friday after a slight recovery of the oil market, the head of Russia’s central bank, Elvira Nabiullina, publicly called for “structural efforts to diversify the economy.” “We should not expect to see oil prices return to high levels,” she said.

Calls to develop long-neglected sectors of the economy come as the government faces increasing pressure to react to a crippling economic crisis that has seen inflation soar and Russians’ purchasing power shrink dramatically.

Booming oil prices in the 2000s when Putin came to power helped fill state coffers and ushered in an era of prosperity. Oil wealth, which led to higher living standards

after the country’s tumultuous transition to capitalism in the 1990s, also boosted Putin’s popularity.

But for the past decade, the International Monetary Fund (IMF) has urged Russia use its oil revenues to support revamping the economic sectors that have been overlooked since the collapse of the Soviet Union.

“Oil is both a blessing and a curse,” IMF mission chief to Russia Antonio Spilimbergo warned in 2012, urging Russia to improve its business climate and fight corruption to attract foreign investment.

The Kremlin has also acknowledged the need for change. In his 2006 address to the nation, Putin called on his government to restructure the economy to focus on new technologies. In a much-touted modernisation drive, the country founded Rosnano, a public holding company specialised in nanotechnology, and Skolkovo, an innovation centre that has branded itself as Russia’s answer to Silicon Valley.




But these initiatives have not come anywhere close to challenging the deep-rooted public energy giants. “It’s easy to talk a good game on the need to diversify away from energy sectors, but the reality of pushing through the necessary reforms is more difficult,” said Neil Shearing, chief emerging markets economist at Capital Economics.

“This is particularly true when oil and gas prices are high.”

High oil prices in fact enabled the authorities to adopt a wait-and-see policy and prop up the rouble, which in turn made Russian companies less competitive on the international stage. “Ironically, it could be the collapse in global energy prices and the rouble that gives the biggest spur to diversification,” Shearing added.

‘New realities’

The financial crisis of 2008 and 2009, accompanied by an oil price slump, had sounded alarm bells among Russian authorities. Then-president Dmitry Medvedev said there would be “fatal” consequences to waiting for the oil market to rebound before revamping the economy.

The crisis also prompted a sceptical Putin to finalise Russia’s accession to the World Trade Organisation (WTO) in 2012, despite fears that opening Russia’s market to global competition could result in higher unemployment.

But oil prices once again shot up, and Russia’s oil production has not slowed down since. Russia pumped a record 534 million tonnes of crude oil in 2015, even as it reeled from a fall in oil prices. The state has reinforced its presence in the sector, turning state oil company giant Rosneft into a global goliath and developing ambitious plans for the Arctic.

But this time, authorities expect no quick rebound in oil prices, finance minister Anton Siluanov said. Siluanov said the government was preparing an anti-crisis plan to adapt budgetary policy to “new realities.”

For economist Lilit Gevorgyan of IHS Global Insight, weaning the Russian economy off its oil dependency would “require serious long-term political efforts” to solve lingering issues such as corruption, red tape and the judicial system’s lack of independence.

With Western sanctions imposed against Russia over the Ukraine crisis, Moscow’s prospects of improving the country’s business environment remain grim. “Today’s Russia is far from launching any reforms,” Gevorgyan said. “The country is governed by a very powerful executive branch that views all decentralisation of economic power as a threat to its existence.”

China and India maintained a strong trade partnership with Iran, while Chinese investments in upstream infrastructure in the last several years is expected to generate an additional 200,000 barrels per day by 2017.




NewBase Special Coverage

News Agencies News Release 25 January 2016

Global solar PV installations to reach 321 gigawatts by end-2016 Saudi Gazette

According to preliminary numbers from GTM Research, 59 gigawatts of solar PV were installed globally in 2015, a 34 percent increase over 2014’s total.

“The fourth quarter of 2015 showed that global PV demand is very much at the mercy of government support, which can often be unpredictable and idiosyncratic, leading to often negative but sometimes positive outcomes,” said Mohit Anand, a senior solar analyst with GTM Research.

With December’s extension of the federal Investment Tax Credit, we saw firsthand that a huge upswing is possible in the market with government support. According to GTM Research, the US share of expected global PV demand between 2015 and 2020 has increased from an average of 10 percent to 15 percent due to the extension. This is despite a substantial increase in demand expected for the Asia-Pacific region (apart from China) in 2016 and beyond.

On the other hand, FIT pullbacks in Japan, the UK and China have tempered expectations.




GTM Research expects 64 gigawatts of solar PV to be installed globally in 2016, led by the United States and China. Emerging markets will play a prominent role. India will become more established as it becomes a reliable multi-gigawatt market this year, and Brazil and Mexico will be tested for their ability to meet their ambitions with actual project execution. Others like the Philippines, Pakistan and Bangladesh in Asia and Uruguay, Guatemala and Panama in Latin America will move forward and try to break through to 100 megawatts.

“We also have to keep in mind the importance of COP21 for the diversification of global markets for PV, especially across emerging markets in Asia, Latin America and Africa,” said Anand. “Many of those countries have pledged substantial goals for deploying renewables and mitigating climate change, and PV is seen as a quick, cost-effective and scalable opportunity within that.”

GTM Research forecast the cumulative worldwide PV total to reach 321 gigawatts by the end of 2016.

Today, most take reliable, affordable power for granted, never having known a time without it. But the assumptions and models underpinning that reliable, affordable power are shifting. Historically, utilities have been able to invest heavily in generation and delivery infrastructure because steady growth in demand maintained affordable prices for customers and yielded reasonable returns. However, increased efficiency, conservation efforts, and alternative power sources have eroded demand growth.

The new report, The power is on, highlights how conservation efforts and alternative energy are ramping up, and why electric utilities can no longer count on customers using more and more power. Learn how a new focus on efficiency and cost control, based on technology—particularly Internet of Things applications—can help utilities survive in today’s changing marketplace.




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Khaled Malallah Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA Emarat member since 1990 ASME member since 1995 Hawk Energy member 2010

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Khaled Al Awadi is a UAE National with a total of 25 years of experience in the Oil & Gas sector. Currently working as Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years, he has developed great experiences in the designing & constructing of gas pipelines, gas metering &

regulating stations and in the engineering of supply routes. Many years were spent drafting, & compiling gas transportation, operation & maintenance agreements along with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE and Energy program broadcasted internationally, via GCC leading satellite Channels.

NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE

NewBase 25 January 2016 K. Al Awadi




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New base 772 special 25 january 2016