Dhahran construction show attracts over 120 exhibitors

Updated 29 March 2015
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Dhahran construction show attracts over 120 exhibitors

More than 120 local and international companies are showcasing their expertise in building, construction and heavy equipment at BUILDEX 2015.
BUILDEX 2015 — the 17th edition of the Saudi international building and construction exhibition — is being held with the participation of more than 120 local and international exhibitors offering their most distinctive expertise in building, construction, and heavy equipment to contribute to added value for the local market.
The four-day exhibition, organized by the Dhahran International Exhibitions Center, coincides with Heavy Equipment Exhibition at the end of March at the company's headquarter on Dammam-Alkhobar coastal road.
The event has the support of Fahad Al-Jubair, mayor of the Eastern Province, whose patronage has favorably impacted the development work and strengthened the mechanism of communication between the Eastern Province (EP) Municipality and the public in general and the business sector in particular.
The exhibition features the latest innovations in various industries, including construction materials and equipment like ceramic tiles and sanitary, flooring, paints, and finishing materials, engineering and steel techniques, security systems, security and audio systems.
This year’s exhibition is characterized by the international participation from Germany, Italy, China, India, Turkey, Greece, the UAE, Bahrain, Qatar and Egypt.
The company said it has allocated 7,200 sqm indoor space and 18,000 sqm outdoor space to showcase construction equipment and machinery, such as heavy equipment, cranes, tractors and bulldozers, lifting and handling equipment.
The Buildex 2015 is stated to be a platform for contractors and entrepreneurs to show their projects to potential global markets.
"The EP provides the ideal location for BUILDEX as it is a key part of the boom in the construction sector, with the figures for Saudi Arabia clearly reflecting huge market potential," the organizers stated.


Brent oil prices drop by 2 percent as traders expect output rise after OPEC deal

Updated 4 min 49 sec ago
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Brent oil prices drop by 2 percent as traders expect output rise after OPEC deal

SINGAPORE: Brent crude oil prices fell by more than 2 percent early on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday.
Brent crude futures, the international benchmark for oil prices, were at $73.90 per barrel at 0035 GMT, down 2.2 percent from their last close.
US West Texas Intermediate (WTI) crude futures were at $68.36 a barrel, down 0.3 percent, supported by a slight drop in US drilling activity.
Prices initially jumped after the deal was announced as it was not seen boosting supply by as much as some had expected.
OPEC and non-OPEC partners including Russia have since 2017 cut output by 1.8 million barrels per day (bpd) to tighten the market and prop up prices.
Largely because of unplanned disruptions in places like Venezuela and Angola, the group’s output has been below the targeted cuts, which it now says will be reversed by supply rises especially from OPEC leader Saudi Arabia.
Britain’s Barclays bank said OPEC’s and Russia’s commitments would take “the market from a -0.2 million bpd deficit in H2 2018 to a 0.2 million bpd surplus.”
Energy consultancy Wood Mackenzie said the agreement “represents a compromise between responding to consumer pressure and the need for oil-producing countries to maintain oil prices and prevent harming their economies.”
In the United States, US energy companies last week cut one oil rig, the first reduction in 12 weeks, taking the total rig count to 862, Baker Hughes said on Friday.
That put the rig count on track for its smallest monthly gain since declining by two rigs in March with just three rigs added so far in June, although the overall level remains just one rig short of the March 2015 high from the previous week.