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Facebook users on Thursday mocked the government’s reduction of gasoline prices by merely about five fils per litre. On Wednesday, the government reduced the price of one litre of unleaded 90-octane gasoline from JD0.560 to JD0.555 and one litre of unleaded 95-octane gasoline from JD0.725 to JD0.720. The drop of five fils was equivalent to a tarifa, a coin that was discontinued in Jordan decades ago. “The good thing about the government’s decision is that it has reminded Jordanians of something from our heritage. Still, it would have been better not to have reduced gasoline prices...Continue Reading >
Global investment firm Seacrest Capital Group (“Seacrest”) today announced that they have partnered with OKEA AS, a new oil and gas development and production company that is headquartered in Trondheim, Norway. OKEA will focus on developing discovered oil and gas fields on the Norwegian continental shelf to create a material development and production focussed Norwegian oil and gas company. Seacrest will initially invest up to $200m in OKEA.
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Jordan's first shale oil-fueled power plant signed Tuesday a memorandum of understanding with state-owned Chinese banks to finance the project.
Mohammad Maaitah, project partner of Attarat Power Company (APCO) that owns the oil shale plant, said the company signed an agreement with the Bank of China and the Industrial and Commercial Bank of China to get about 1.7 billion"...Continue Reading >
Prices of oil derivatives in the domestic market are expected to increase by 3 to 4 per cent at the end of this month, according to an industry source. The source, who requested to remain unnamed, said the expected increase in prices of main fuel products would be a reflection of the slight recovery in prices of Brent crude, the global oil benchmark. On Sunday, Brent crude was traded at $48.6 a barrel, according to news agencies. The government updates fuel prices on a monthly basis in a manner that corresponds to changes in oil prices on the international market. Prices of oil derivatives in...Continue Reading >
CSC (NYSE: CSC), a global leader in next-generation IT services and solutions, today announced it has closed the acquisition of Fruition Partners, the leading provider of technology-enabled solutions for the service-management sector and the largest ServiceNow-exclusive service-management consulting firm. The acquisition bolsters CSC’s ability to offer"......Continue Reading >