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DUBAI (Reuters) - Oil giant Saudi Aramco (SE:2222) and energy services company Baker Hughes have formed a 50/50 joint venture, Novel, to develop a broad range of non-metallic products for multiple applications in the energy sector.
Novel's new plant is being constructed at Saudi Arabia's King Salman Energy Park (SPARK), a 50 sq km energy city aimed at making the kingdom a global energy, industrial and technology hub.
The new facility will not only create jobs, it will also help to foster growth of an emerging sector in line with Saudi Arabia's Vision 2030 to diversify the economy away from oil, the companies said in a statement without disclosing the size of their investment.
By Marcelo Teixeira (Reuters) - Brazilian sugar cane mills are cancelling some sugar export contracts and diverting production to ethanol to cash in on high energy prices,...
By Nupur Anand MUMBAI (Reuters) - Shares in state-owned Life Insurance Corp of India (LIC) slid 5% in their market debut on Tuesday, with sentiment hurt by recent market...
MUMBAI (Reuters) - Shares in state-owned Life Insurance Corp of India (LIC) were on track to debut at an 8% discount to their IPO price on Tuesday. LIC shares were trading at 872...
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