DIRS.INFO The most relevant business & tech news

☆ After years of building up its navy, Saudi Arabia is testing its new warships with real-world missions
▼ + stars: | 2023-11-30 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

Saudi Arabia has invested heavily in its navy in recent years, buying a number of new warships. AdvertisementThe first of the Spanish-built corvettes, Al Jubail, arrived at the Saudi naval base in Jeddah in August 2022. Patrol boats for Saudi Arabia at a German shipyard in April 2019. During that decade, Saudi Arabia initiated the first Saudi Naval Enhancement Program, which equipped its navy with modern American, French, and British warships. The current buildup, called Saudi Naval Enhancement Program II, or SNEP II, is the most significant one since then.

Persons: —, Leonardo Jacopo Maria Mazzucco, MCS3 Louis Thompson Staats, Mazzucco, Al Jubail, Juan Carlos Toro, Lockheed Martin, Stefan Sauer, Nixon, Shah, HMS Badr, Paul Iddon Organizations: Service, Saudi, Royal Saudi Naval Forces, Combined Maritime Forces, International, Analytics, Stimson Center, US Navy, Royal Saudi Naval Force, Getty, RIM, Saudi Western Fleet, Saudi Eastern Fleet, Lockheed, Fleet, Saudi Naval Enhancement, Islamic Revolutionary Guard Corps, IRGC Navy, SNEP Locations: Saudi Arabia, Riyadh, Persian, Saudi, Iran, Yemen, Washington, Al, Madinah, Navantia's, Cádiz, Spain, Jeddah, East Africa, Iraq, Gulf

☆ Italy's Maire Tecnimont wins $2 billion Saudi Arabia petrochemical contracts
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +1 min

June 24 (Reuters) - Italian engineering group Maire Tecnimont (MTCM.MI) said it has won two contracts valued at about $2 billion related to a petrochemical expansion at the SATORP refinery in Saudi Arabia. SATORP refinery, located in Jubail, Saudi Arabia, is a joint venture between Saudi Aramco and French company TotalEnergies. The engineering, procurement and construction lump sum turnkey contracts will drive the Italian oil services group's revenues growth for 2023 and beyond, the company said in a statement on Saturday. The contracts will bring its year-to-date order intake to over 2.6 billion euros ($2.83 billion), it added. Earlier on Saturday, Saudi Arabian Oil Company (Aramco) (2222.SE) and TotalEnergies (TTEF.PA) signed an $11 billion contract to start building a new petrochemicals complex in Saudi Arabia.

Persons: Maire Tecnimont, Alessandro Bernini, Mrinmay Dey, Ros Russell Organizations: Saudi Aramco, Saudi Arabian Oil Company, Aramco, Thomson Locations: Saudi Arabia, Jubail, Saudi, Bengaluru

☆ Aramco and TotalEnergies to build $11 bln Saudi petrochemicals plant
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] A sign with the logo of French oil and gas company TotalEnergies is pictured at a petrol station in Bouguenais near Nantes, France, November 14, 2022. REUTERS/Stephane Mahe/File PhotoPARIS, Dec 15 (Reuters) - Saudi Arabian Oil Company (Aramco) and TotalEnergies (TTEF.PA) will join forces to build a new petrochemicals complex in Saudi Arabia, the French energy group said on Thursday. The project involves investment of about $11 billion, of which $4 billion will be funded through equity by Aramco (62.5%) and TotalEnergies (37.5%), the statement said. The planned Amiral complex, integrated with the existing Saudi Arabia Total Refining and Petrochemical (SATORP) refinery located in Jubail on Saudi Arabia’s eastern coast, will be owned and operated by Aramco and TotalEnergies. The petrochemicals facility will enable SATORP to convert its refinery off-gases and naphtha, as well as ethane and natural gasoline supplied by Aramco, into higher-value chemicals.

☆ SABIC posts 67% fall in Q3 profit on higher costs, impairment
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Oct 30 (Reuters) - Petrochemicals firm Saudi Basic Industries Corp (SABIC) (2010.SE) said on Sunday it expected margins to be under pressure in the fourth quarter as its third quarter net profit fell 67% year-on-year on higher costs and an impairment charge. SABIC's net profit fell to 1.84 billion riyals ($489.62 million) from 5.59 billion riyals in the third quarter of 2021. Average sales prices in the third quarter fell 15% from the second quarter, while sales volumes also dropped 1% in the same period, SABIC said in a statement. SABIC said its "value capture associated" with Aramco since it took the stake in June 2020 was 3.64 billion riyals, including 2.09 billion riyals in the first nine months of 2022. Fageeh was named CEO on Sept. 28 after former CEO Yousef Abdullah al-Benyan resigned following his appointment as Saudi minsiter of education.

☆ Despite Biden's assurances, Middle East militaries are buying their own weapons to take on Iran at sea and in the air
▼ + stars: | 2022-09-21 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

Saudi Arabia and the UAE have been investing heavily in new military hardware in order to Iran. The Royal Saudi Air Force's core strength are its 232 F-15 Eagles, at least 84 of which are F-15SA variants designed specifically for Saudi Arabia. A Royal Saudi Air Force F-15 at King Faisal Air Base in Saudi Arabia in February 2021. US and Bahraini officials in front of unmanned naval vessels at at Naval Support Activity Bahrain in Manama in January. US Navy/MCS1 Mark Thomas MahmodIMX 2022 was also the first time Israel and Saudi Arabia, which don't have diplomatic relations, officially took part in an exercise together.

☆ The forest growing in the world’s hottest sea
▼ + stars: | 2022-08-04 | by ( Barry Neild | ) edition.cnn.com time to read: +9 min

Jubail Mangrove Park is a green expanse of gray mangrove trees on the northeastern edge of Abu Dhabi’s Al Jubail island, where shallow tidal waterways spill out into the clear blue Arabian Sea. It’s a tranquil world away from the shimmering skyscrapers and heat-hazed hustle of downtown Abu Dhabi, albeit just a short drive away. Dreamlike destinationThe Jubail Mangrove Park is an unexpected green escape from the deserts of Abu Dhabi. And observing those genes in action in Abu Dhabi could be a good sign. “It is the only place in Abu Dhabi where you can see so much green.”

☆ Iranul a confiscat o navă aflată în Golful Persic sub pavilion sud-coreean. Motivul inovcat de regimul de la Teheran
▼ + stars: | 2021-01-04 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +2 min

Nava a fost confiscată de marina iraniană din cauză că polua cu substanţe chimice apele Golfului Persic, potrivit mai multor publicaţii iraniene. Membrii echipajului - alcătuit sud-coreeni, idonezieni, vietnamezi şi birmani - au fost arestaţi, potrivit agenţiei care nu le precizează numărul, iar nava a fost imobilizată în portul Bandar Abbas. Flota a V-a americană, cu baza în Bahrain, este la curent şi monitorizează situaţia, a declarat pentru Reuters o purtătoare de cuvânt a flotei, Rebecca Rebarich. Autorităţile iraniene nu au făcut comentarii cu privire la acest incident, care are loc înaintea unei vizite a adjunctului ministrului sud-coreean la Teheran. Iranul a confiscat în 2019 nava Stena Impero, care naviga sub pavilion britanic, la două săptămâni după ce o navă de război britnică că a interceptat un petrolir iranian în largul coastelor Gibraltarului.

Persons: Reuters, Rebecca Rebarich, Washington, Donald Trump Organizations: Flota, Reuters, Ministerul, Ambrey, Petroleum, Global Locations: coreean, Golful Persic, Teheran, Seul, coreene, Statele Unite Republicii, Persic, coreeni, Bandar Abbas, - coreean, Bahrain, Iranului, Statele Unite, Viena, coreen, Jubail, Arabia Saudită, Strâmtoarea Ormuz, Emiratele Arabe Unite, EAU, Stena

Search resuls for: "Jubail"

7 mentions found