Penspen, a provider of engineering and project management services to the energy industry, said it has been awarded a contract by Abu Dhabi National Oil Company (ADNOC) Onshore, with a value exceeding $70 million.The project is for the provision…
The Abu Dhabi National Oil Company (ADNOC) said on Wednesday it would invest 5.1 billion dirhams ($1.4 billion) to upgrade and expand its onshore Bu Hasa field.The upgrade will increase crude oil production capacity to 650,000 barrels per day…
Versalis, the Eni chemical company, Petrochem and Mazrui Energy Services have signed an agreement to establish Versalis Petrochem Mazrui (VPM), a joint venture for the commercialization of innovative chemicals for the Oil & Gas industry in the Middle East…
The state-owned energy giants of Saudi Arabia and the United Arab Emirates, Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), signed a cooperation deal to explore potential areas for mutual collaboration in the LNG value chain aimed at bolstering gas production and revenue…
U.S. President Donald Trump on Monday said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting oil supply next year, citing softening demand.'Hopefully, Saudi Arabia and OPEC will not be cutting oil production…
Oil prices rose on Monday after Saudi Arabia said OPEC and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per day next year.Saudi Arabia, the world's largest oil exporter, said on Sunday it would…
Saudi Aramco Chief Executive Officer Amin Nasser said the initial public offering of the state-oil producer will 'certainly' happen when the conditions are right.Saudi Aramco said it is still in discussions to buy a stake in petrochemicals company Saudi Basic Industries Corp…
Oil rose by more than 1 percent on Monday, set for its largest one-day increase in a month after Saudi Arabia said OPEC and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per day.Saudi Arabia…
Afghan Ministry of Transportation will soon launch a commercial shipping line with the assistance of the Islamic Republic of Iran to conduct business activities between Chabahar Free Trade Zone and India.IRNA reported quoted the Afghan Ministry…
Ampelmann, the global leader in offshore access solutions, has opened its second office in the Middle East in a move to further expand its presence in the region. The office in Dubai (UAE) will be manned by Tim Mulders as Business Developer…
Turkey has completed the purchase of its second drilling ship, which will operate in the Black Sea at the north of the country, Energy Minister Fatih Donmez said on Friday.Turkey is almost completely reliant on imports to meet its energy needs…
China's Sinochem Group agreed to annual crude oil supply deals for 2019 with Saudi Aramco and Kuwait Petroleum Corp (KPC) with volumes from both suppliers more than 20 percent higher than in 2018, a senior Sinochem executive said on Friday.The…
The head of Russian oil giant Rosneft, Igor Sechin, and Saudi Aramco Chief Executive Amin Nasser held talks in Moscow on Friday on areas for cooperation, Rosneft said.Rosneft, the world's largest-listed oil producer by output, said in a brief…
Oil prices fell to multi-month lows on Friday as global supply increased and investors worried about the impact on fuel demand of lower economic growth and trade disputes.Benchmark Brent crude fell below $70 a barrel for the first time since early April…
Russian oil producer Gazprom Neft has made a further cut to its forecast for the level at which output will plateau at the Badra oilfield in Iraq, the company said on its website on Thursday.The post cited comments made by Deputy Chief Executive…
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