Baker Hughes, Dussur to join forces for chemicals project in Saudi Arabia

Oil refinery plant from industry zone, Aerial view oil and gas petrochemical industrial.
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Updated 30 March 2022
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Baker Hughes, Dussur to join forces for chemicals project in Saudi Arabia

  • In 2020, Baker Hughes formed a joint venture called Novel with Saudi Aramco to develop non-metallic products

Baker Hughes and Saudi Arabia's state-owned Dussur have agreed to form a joint venture focused on providing oilfield services and industrial chemicals in the country, the companies said on Tuesday.


Texas-based oilfield services provider Baker Hughes will hold 51% of the joint venture under the agreement that is expected to close in the third quarter.


Dussur, or Saudi Arabian Industrial Investments Company, is owned by the nation's sovereign wealth fund (PIF), oil company Saudi Aramco and SABIC, the world's fourth-biggest petrochemicals firm.


The joint venture will continue to operate under the Baker Hughes brand and its manufacturing facility in Jubail city will supply chemicals focused on the needs of Saudi Arabia.


In 2020, Baker Hughes formed a joint venture called Novel with Saudi Aramco to develop non-metallic products for multiple applications in the energy sector.


Maersk to resume Suez Canal sailings for MECL service

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Maersk to resume Suez Canal sailings for MECL service

  • Shipping companies are weighing a return to the critical Asia-Europe trade corridor more than two years after they started rerouting vessels around Africa following Yemeni Houthi rebels’ attacks

OSLO: Shipping group Maersk will resume sailings via the Red Sea and the Suez Canal for its ​MECL service, connecting the Middle East and India with the US east coast, the Danish company said on Thursday.
“Maersk has decided to implement a structural return to the trans-Suez route for all MECL service sailings,” the company said in a statement, ‌adding that this ‌was part of a ‌stepwise approach ⁠for ​its ‌fleet.
Shipping companies are weighing a return to the critical Asia-Europe trade corridor more than two years after they started rerouting vessels around Africa following Yemeni Houthi rebels’ attacks on ships in the Red Sea in what they said ⁠was a show of solidarity with the Palestinians in Gaza.
Maersk ‌on Monday said one ‍of its vessels ‍had tested the route as a ceasefire in ‍Gaza raised hopes for normal shipping traffic.
The change for the MECL service comes into effect with a sailing departing Oman’s port of Salalah on January ​26.
The Suez Canal is the fastest route linking Europe and Asia and, until ⁠the Houthi attacks, had accounted for about 10 percent of global seaborne trade, according to Clarksons Research.
The ceasefire in the Gaza conflict, in place since October last year, has renewed hope of normalizing Red Sea traffic.
The ceasefire has ended major combat in Gaza over the past three months, but both sides have accused the other of regular violations. More than 440 ‌Palestinians and three Israeli soldiers have been killed since the truce took effect.