OPEC Fund Partners with IRENA
The OPEC Fund for International Development has signed an agreement with the International Renewable Energy Agency (IRENA) to join the Energy Transition Accelerator Financing (ETAF) platform.The platform is a global initiative that seeks to mobilise funds for renewable energy investments. The OPEC Fund plans to support the platform with up to USD 250 million financing until 2030 to finance renewable energy solutions in its partner countries.The ETAF platform, established by IRENA and backed by the United Arab Emirates, initially aimed to mobilise at least USD one billion of capital by 2030.
Libya Oil Chief says Full Output to Resume after Deal
Libyan oil output will resume from all shuttered fields and ports, the Tripoli government's newly installed head of National Oil Corporation (NOC) said on Friday after meeting groups that have blockaded the facilities for months.The decision to lift force majeure on production could mean a return of 850,000 barrels per day (BPD) of oil to the market that has been shut off by the groups aligned with eastern commander Khalifa Haftar.Prime Minister Abdulhamid al-Dbeibah of the Governmentā¦
Libya's Oil Chief Rejects Sacking, Says Govt Mandate Expired
The head of Libya's National Oil Corp (NOC) on Wednesday rejected the prime minister's authority to sack him, raising the prospect of an open struggle for control of the state energy producer.In a furious televised speech, Mustafa Sanalla said Prime Minister Abdulhamid al-Dbeibah's mandate to govern had expired and warned him not to touch NOC.An armed force deployed outside the NOC building later in the day, three witnesses said. One of them said the force was aligned with Dbeibah.
Libya Halts Operations at Zueitina Oil Port Due to Protests
Libya halted oil production from its El Feel oilfield on Sunday and two sources at Zueitina oil port said exports there had been suspended after protesters calling for Tripoli-based Prime Minister Abdulhamid al-Dbeibah to resign took over the sites.Halting operations in El Feel and Zueitina would cripple Libya's oil production which averaged 1.21 million barrels per day before the latest outages. The force majeure on El Feel curtails the North African nation's production by 70,000 barrels per day.Libya has had two competing governments since March when the eastern-based parliament appointed Fathi Bashagha to replace Dbeibah, renewing a standoff between the east and west of the country.
Egypt Inks $14 mln Deal to Build Two Wheat Silos in Port Said
Egypt inked a $14 million agreement with the OPEC Fund for International Development (OFID) to build two wheat silos in Port Said, the cabinet said on Wednesday.The project aims to raise Egypt's port storage capacity for imported wheat by around 15%, Supply Minister Ali Moselhy said.The General Company for Silos and Storage will execute the project, he said, which aims to ease pressure on silos in Damietta and Alexandria.The government also hopes the new silos will reduce transport times between ports and storage facilities.Egypt's investment ministry cited OFID Director-General Abdulhamid Alk
Singapore, Indonesia, Malaysia sign MOU for Joint Hydrographic Survey
To demonstrate multilateral cooperation between littoral states and stakeholders to improve navigational safety in the Straits of Malacca and Singapore (SOMS), Phase Two of a Joint Hydrographic Survey was formally launched via a Memorandum of Understanding (MOU) signed today at the 10th Co-operation Forum held from 2nd to 3rd October 2017 at Kota Kinabalu, Malaysia. Besides the littoral states, the survey is supported by the Malacca Strait Council (MSC) of Japan. Phase Two, which is a continuation from Phase One, will cover the remaining areas of the Traffic Separation Scheme (TSS) within the SOMS which are shallower than 30m. The data obtained from the survey would be used to produce up-to-dateā¦
Destini Marine To Build Cruise Ships
Destini Marine Sdn Bhd and Conoship International B.V (Conoship) of the Netherlands inked a cooperation agreement to build 20 luxury cruise ships for the European market, according to a report on www.bernama.com.my. The deal was signed by Destini Marine chairman Datuk Abdul Malek Abdul Hamid while Conoship was represented by its general manager, Philippe Swolfs. The ceremony was witnessed by Prime Minister Datuk Seri Abdullah Ahmad Badawi and Terengganu Menteri Besar Datuk Seri Idris Jusoh. Abdul Malek told reporters that the ships would be built over a six-year period, according to published reports. (Source: www.bernama.com.my)
