The Iraqi oil ministry has named the 41 international companies that have been selected to compete for 12 exploration blocks in the next bidding round which is scheduled to take place in January 2012.

Larsen & Toubro Limited (L&T) has been awarded two major pipeline orders in the UAE valued at US$639mn.

Qatar Navigation Q.S.C. fully-owned subsidiary, Qatar Shipping Co., has been awarded a US$520mn contract by Qatar Petroleum.

Fluor Corporations net earnings for the second quarter rose to US$165mn compared with $157mn in Q2 of 2010, while revenues rose 17 per cent to US$6 billion, up from $5.2 billion in the second quarter of 2010.