Taqa toasts £1.1 billion profits as oil and gas prices surge
Abu Dhabi state energy firm Taqa toasted a 54% surge in profits for the first half of 2022 amid an oil and gas price windfall.
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Thailand’s PTTEP and Italy’s Eni strike ‘significant gas discovery’ in UAE
Thailand’s PTTEP (BKK:PTTEP) has announced another “significant gas discovery” from its first exploration well in the United Arab Emirates (UAE), together with partner Eni (MIL:ENI) of Italy, that paves the way for “establishing a strong presence” in the Middle East nation.
ADNOC Drilling lands $2bn contracts for Ghasha ‘mega-project’
ADNOC Drilling has been awarded $2bn contracts for the Hail and Ghasha “mega-project” in the United Arab Emirates (UAE).
Hezbollah issues threat against Karish’s September start
Hezbollah head Hassan Nasrallah has issued a new threat to Israel’s activities offshore, including around Energean’s Karish development.
Adnoc L&S snaps up Zakher Marine International
Adnoc Logistics & Services is buying Zakher Marine International (ZMI), an Abu Dhabi-based owner operator of offshore support vessels (OSVs).
MENA spending on the rise, but prices to remain high
Spending on the energy sector in the Middle East and North Africa could reach $879 billion over the next five years, according to Apicorp.
Court reverses conviction of Aberdeen man in Unaoil bribery case
The Court of Appeal has reversed a conviction of Aberdeen exec Stephen Whiteley, the third such reversal for cases stemming from the Unaoil scandal.
Technip Energies, NPCC launch MENA-focused energy transition unit
Technip Energies and Abu Dhabi’s National Petroleum Construction Co. (NPCC) have agreed to establish a joint company, aiming to focus on the energy transition.
Adnoc, TotalEnergies to deepen co-operation, with state backing
Adnoc and TotalEnergies have signed a deal to work together, while France and the United Arab Emirates have also made high-level commitments.
UK stumps up another £2mn for Yemen’s floating oil threat
The UK will provide another £2 million to help the FSO Safer, a deteriorating vessel holding around 1 million barrels of oil offshore Yemen.
Worley takes Aramco shale gas award
Saudi Aramco has awarded Worley a contract covering project management services for the development of unconventional gas.
EnerMech lands £107m worth of new contracts in Africa, Middle East and Caspian
EnerMech is today announcing new contracts worth a total of more than £107 million for work in Africa, the Middle East and Caspian region.
Lamprell warms up to joint bid
Lamprell’s two suitors, Blofeld Investment Management and Al Gihaz Holding, have teamed up to make an offer for the company.
Biden faces oil market challenge in Saudi trip
US President Joe Biden is due to visit the Middle East this week, with the oil market watching his trip to Saudi Arabia particularly closely.
QatarEnergy picks Shell for major LNG project
QatarEnergy (QE) has officially picked Shell to take a 25% stake in a joint venture on the North Field East (NFE) project. This will have total capacity of 32 million tonnes per year.
Abu Dhabi’s Taqa to retain most oil and gas assets after review
Abu Dhabi National Energy Co. said it will retain the vast majority of its oil and natural gas assets following a review, citing the strong contribution of those businesses to earnings.
Israel shoots down Hezbollah drones headed for Energean FPSO
Israeli forces have shot down three Hezbollah drones that appeared to be heading for the recently arrived FPSO on the Karish field, in the Mediterranean Sea.
Lamprell shareholder considers offer
A potential offer may be in the offing for Lamprell, which announced recently it was seeking a buyer to help it solve its liquidity issues.
Shell to sign deal with Qatar on $29 billion gas project
Shell (LON: SHEL) is set to follow other Western energy majors by taking a stake in a $29 billion project to boost exports of liquefied natural gas from Qatar.
Make oil production greener by going local
Extracting oil from the ground is a massive logistical undertaking. It requires an army of workers, vehicles and equipment to even get started, let alone produce sustainably and profitably.
Saipem lands Middle East contracts worth $1.2 billion
Saipem (MI: SPM) has been awarded several contracts, onshore and offshore, in the Middle East worth around $1.2 billion.
Toxic gas leak in Jordan kills 13 and injures hundreds
At least 13 people have been killed and hundreds of others are reported injured following a toxic gas leak from a storage tank in Jordan.
Lamprell posts for sale sign amid severe liquidity issues
Lamprell (LON:LAM) faces “urgent and severe liquidity constraints”, the company has admitted, with an immediate need for $75 million, due in June and July this year.
Seadrill lands trio of rig contracts worth $361 million
Seadrill (XOAS: SDRL) has been awarded a series of contract extensions for a trio of oil rigs in the Arabian Gulf.
ExxonMobil joins energy majors investing in Qatar gas project
ExxonMobil is investing in a $29 billion project to boost Qatar’s gas exports, joining others including ConocoPhillips, TotalEnergies and Eni.