Industry

Tyco to buy KEF Holdings in the UAE

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Tyco International Ltd agreed to acquire a 75 per cent equity stake in privately-held KEF Holdings Ltd. for approximately US$300mn in cash.

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RAK Petroleum sees Q1 profits

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RAK Petroleum Public Company Limited, announced net operating profits of US$5.1mn for the quarter ended 31 March 2011 on turnover of US$17.1mn.

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Maritime Industrial Services to be bought by Lamprell

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Lamprell announced that it will acquire Maritime Industrial Services (MIS) for US$336.1mn.

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Middle East energy demand growth to continue

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ExxonMobil presented the latest edition of the company's Outlook for Energy: A View to 2030 at a roundtable in Dubai outlining the increasing global and regional energy demand.

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Iran oil and gas reserves rise by half a billion barrels

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Iran's oil and gas reserves have risen by half a billion barrels and five trillion cubic feet respectively with the discovery of new onshore oil and gas fields in the south and west of the country, an Iranian daily quoted a senior oil official as saying.

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