Oil and gas

November 18, 2017


Algeria pushes back Timimoun first gas output to 2019

Africa’s largest gas producer Algeria is expected to start gas production from its Timimoun field in 2019 - two years later than planned - with negotiations for contracts to potentially supply Europe currently underway, according to the Spanish energy firm Cepsa, which is one of the stakeholders in the field.

“We’re close to finishing development of the area, we’re still making more drills and developing all the surface facilities"...

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November 14, 2017


Baker Hughes, Sonatrach to Construct Oil Equipment Plant

Baker Hughes , part of GE BHGE , and Algerian State energy company, Sonatrach, have proposed to set up a joint venture (JV).

Per the deal, the companies will construct an oil equipment plant in Algeria at an estimated cost of $45 million. Manufacturing, assembly and maintenance for various types of oilfield equipment will be provided by the JV. This will result in the formation of an important base,"...

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November 14, 2017


Africa’s rising LNG producers can address domestic power problems

While the production of liquefied natural gas (LNG) in Africa historically has been concentrated in Nigeria, Algeria, Egypt and Libya, the prospects for gas in the rest of Africa have steadily increased in recent years. This development not only has opened the door to opportunities for export, but also for supporting the demand for reliable power on the continent, according to Victor Mallet, APR Energy’s Director of Sales for Sub-Saharan Africa.


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November 11, 2017


Sonatrach, BHGE to set up manufacturing facility in Algeria

Sonatrach, Algeria's state energy producer, has signed an agreement with Baker Hughes, a GE company (BHGE), to set up a 2,000-sq-m oilfield equipment manufacturing facility in Arzew Industrial Zone aiming to strengthen Algeria’s position in the upstream oil and gas market to meet local demand.

The agreement was signed in the presence of the Minister of Energy, Mustapha Guitouni, at a ceremony hosted by Sonatrach in Algiers.

Sonatrach and BHGE will have 51 per cent and 49 per cent ownership"...

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November 10, 2017


ABB Appoints Jessica Mitchell as Head of Investor Relations

(AETOS Wire)--ABB announced today that Jessica Mitchell has been appointed Head of Investor Relations effective November 15, 2017, reporting to the company’s Chief Financial Officer, Timo J. Ihamuotila. She succeeds Alanna Abrahamson, who has been appointed CFO of ABB’s Industrial Automation division. Abrahamson will assume her new role as of March 1, 2018, after a smooth transition in Investor Relations.


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November 9, 2017


Patient Safety Movement Foundation and Dubai Healthcare City Authority Launch First Patient Safety Movement in the Middle East

(AETOS Wire)-- The Patient Safety Movement Foundation (PSMF) is pleased to announce the first patient safety movement of its kind in the Middle East that aims to eliminate preventable deaths. The movement, which is being spearheaded by the Dubai Healthcare City Authority (DHCA), kicked off with a roundtable on the Patient Safety Movement that took place on November 7, 2017.

“This is an incredible move"...

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November 9, 2017


UAE Cabinet Meets Amid 1.5 Million Titles at Sharjah Book Fair

(AETOS Wire)--A lot becomes evident about the cultural values of a nation and the leadership’s vision for its people when a mass book fair transforms into a venue for high-level discussions. In what became the first-ever event of its kind in the world, the UAE Cabinet members left their offices to hold a meeting amid 1.5 million titles, thousands of school and university students, and lovers of literature at the 36th Sharjah International Book Fair – now the third largest"...

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November 9, 2017


Alexion Employees Volunteer Together to Enhance Their Local Communities during Second Annual Global Day of Service

(AETOS Wire)-- Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) announced that more than 1,300 employees are rallying together in support of community service initiatives focused on health, wellness, and education as part of the Company’s second annual Global Day of Service. Alexion has partnered with non-profit organizations in nearly 30 of the Company’s local communities across North America, Europe, Latin America, Asia, and Australia to coordinate service projects that will"...

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November 9, 2017


Finova Financial Announces The JOBS Crypto Offering (JCO): A Path To A Regulated Public Securities Offering for Non-Accredited Investors Using Cryptocurrency

(AETOS Wire)-- Finova Financial, a digital financial services provider transforming the future of global banking, announced today the creation of a fundraising process known as a JOBS Crypto Offering (JCO) which, when completed, will give investors the opportunity to invest in equity ownership of previously privately-held companies using cryptocurrency. The JCO is a hybrid of initial coin offering investments (ICOs), which allow companies to raise capital more readily through cryptocurrency investments and an initial public offering of stock. In a JCO, “tokens” representing ownership of shares of capital stock would be tracked on a distributed ledger or blockchain (Tokens) and would be sold pursuant to a registration statement filed under the Securities Act or a transaction which is exempt from registration under the Securities Act pursuant to Rule 251 under the Securities Act (i.e. Regulation A+). The JCO is the brainchild of serial fintech entrepreneur, Gregory Keough, who is the current CEO of Finova Financial and former CEO of Mobile Financial Services,......

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November 9, 2017


GAC Abu Dhabi And RB Logistics Join Forces For Talc Shipments

European bulk logistics provider RB Logistics (RB) has appointed GAC Abu Dhabi for a second time to provide a complete logistics service package. The two-year contract covers freight services, transportation, warehousing and handling of talcum powder from Italy to Ruwais for a client of IMI FABI.

GAC will arrange for collection of talc from IMI FABI’s"...

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