Saudi Arabia Refineries (SASE:2030), d/b/a Sarco, unit Refineries Venture Co. agreed to purchase a 33% stake in Global Waste Solutions from Khadra Al-Hijaz Environmental Services Co.
The memorandum of understanding signed for the deal is valid for three months, the petroleum refining company said Sunday.
Sarco added that the deal will expand and develop its subsidiary's activities in caustic and acidic industrial waste, alkaline industrial waste, and oily sludge treatment.
BP (BP.L) will meet with the local arm of the United Steelworkers union on June 10 to discuss proposals for workers at its Whiting refinery in the US.The oil and gas company said May 29 it expects to receive the union's response to its latest offer at the meeting.
Aegis Logistics' (NSE:AEGISLOG, BOM:500003) consolidated attributable profit rose sharply to 4.10 billion Indian rupees in the fiscal fourth quarter ended March 31, from 2.82 billion rupees a year ago.Earnings per share climbed to 11.69 rupees from 8.02 rupees a year earlier, the oil and gas logistics company said in a filing to the Indian bourses on Friday.Revenue from operations in fiscal Q4 also rose to 25.9 billion rupees from 17.1 billion rupees a year ago.The company's board recommended a final dividend of 6.70 rupees per share of face value of 1 rupee each for the financial year ended March 31.
Arabian Pipes Co. (SASE:2200) entered into a 62 million-Saudi-riyal contract with Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.Under the agreement, the Saudi-listed steel tube manufacturer will produce and deliver steel pipes to the oil giant for a period of 10 months, according to a Sunday release.