Issue : November 1999
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The UK's Serck Heat Transfer has a contract to supply cooling systems for engines in 30 locomotives being supplied to the General Establishment for Syrian Railways. The FF 350 million ($55 million) contract for the AD 33 CoCo locomotives was signed with France's Alstom in 1997 (MEED 20:6:97). The RK215 diesel engines are being supplied by the UK's Alstom Engines Ruston Division.
Qatar Liquefied Gas Company (Qatargas) has announced that it has signed an agreement to sell a further seven cargoes of liquefied natural gas (LNG) to the US' CMS Energy Corporation. The first deliveries in the 500,000- tonne deal are due to begin in January. Qatargas has also taken delivery of its ninth LNG carrier, Al-Bidda, from Japan's Kawasaki Heavy Industries. The 10th and final vessel, to be named Al-Jasra, is scheduled to be delivered in mid-2000.
Libya has handed over compensation to the UK government for the shooting of a London policewoman in 1984, signalling a return to full diplomatic relations, UK Foreign Secretary Robin Cook said on22 November. A British ambassador is expected to take up his post in Tripoli before the end of the year, some 15 years after diplomatic relations were cut off. 'The government of Libya has handed over compensation for the killing of WPC Fletcher, so removing the last obstacle to the restoration ...
Credit Libanais said on 24 November that it will be forming a joint venture with Data Management, a local internet provider, to help businesses in the region establish virtual shops and obtain a share of the increasing worldwide web business. NetCommerce hopes to attract businesses locally and from Jordan and Syria to sign up to its sites. Credit Libanais has 7,000 businessmen among its clients, said the bank's chairman Joseph Torbey.
IRAQ: Oil exports suspendedin new UN riftSubscription
A decision to suspend oil exports has sent oil prices to their highest level since the invasion of Kuwait in 1990 and reopened the dispute with the UN over sanctions. The stoppage removes 2.2 million barrels a day (b/d) from world markets and was imposed in protest at UN delays in extending the oil-for-food deal, which is reviewed every six months, into a seventh phase.
BG International of the UK announced on 24 November that it will start collecting seismic data off the Gaza coast by the end of 1999. Palestinian leader Yasser Arafat granted the company an offshore drilling licence during his visit to London in November. BG hopes to start drilling in 2000, once it has collected and analysed 1,000 kilometres of seismic data, and intends to spud two wells in 18 months.Any gas discovered will be sold to Palestinian power stations and industrial buyers ...
TELECOMS: Limbering up for launch ofa new eraSubscription
THE next phase of Saudi Arabia's mobile phone expansion scheme is shaping up as a battle royal. With seven international companies bidding to supply a further 1 million global system for mobiles (GSM) lines to the estimated 800,000 installed capacity, tensions are mounting between the global communications giants as they eye the prize of access to one of the Middle East's biggest markets.
AL-ZAMIL: Pioneer looks far beyondthe familySubscription
FROM his downtown Riyadh vantage point, Al-Zamil Group chairman Abdulrahman al-Zamil appears an unlikely revolutionary. Yet as the head of a major family-owned business in Saudi Arabia seeking to go public, his impact on the business culture of the Gulf is potentially immense. 'History has shown our group to be pioneers,' he says. 'But this is the only way forward. Many family firms have contacted me for advice and I urge them all to think very seriously about going public.'
THIS year could prove a decisive turning point for Saudi Arabia's petrochemicals sector. With a series of new ventures either initiated or developed in 1999, the prospect of privately-run projects to rival those in the Saudi Basic Industries Corporation (Sabic) firmament is no longer the stuff of fantasy.
POWER: Promised changes are taking timeSubscription
THE formation of the Saudi Electricity Company (SEC) has been trailed with more fanfare than a Hollywood blockbuster. A year since gaining cabinet approval for its establishment, ministerial announcements promising its imminent arrival continue to flood the news wires. Though pressure is growing on policy makers to approve its incorporation before the end of the year, there is little consensus among power industry executives as to when SEC will be operational. A Riyadh-based consultant ...