Wood secures $11m Iraq contract from TotalEnergies
Aberdeen's Wood Group has secured two engineering and procurement contracts worth $11 million (£8.3m) from a TotalEnergies subsidiary relating to an Iraq gas project.
Middle East
Oil & Gas Middle East
Aberdeen’s EnerQuip rakes in $10m in international sales
Oilfield equipment company EnerQuip says it has secured record new business worth $10 million in the first quarter of the year boosted by sales in the Middle East.
Wood lands Omani engineering services contract
Aberdeen-based oil services group Wood will provide front-end engineering design (FEED) services to Oman’s biggest oil producer, Petroleum Development Oman (PDO).
All Middle East Posts
GMS drops capital raise plans, faces Seafox board struggle
The dispute between Gulf Marine Services (GMS) and its major shareholder Seafox International shows no signs of receding and have scotched plans for a capital raise.
ADES eyes better times ahead
ADES International increased EBITDA, revenue and profit in the first half of 2020, versus 2019.
Adnoc, Mubadala, ENEC team up on local content
Adnoc has signed framework agreements with Mubadala Investment and Emirates Nuclear Energy Corp. (Enec) focused on co-operation on in-country value (ICV).
Iran dismisses US efforts over UN sanctions as currency drops
Iran's president dismissed US efforts to restore all UN sanctions on the country, as mounting economic pressure from Washington pushed the currency down to its lowest level ever on Sunday.
Oman signs exploration deal with EOG
Oman’s Ministry of Energy and Minerals has signed a deal with the US’ EOG Resources for Block 36.
Accord sets stage for Israel, UAE, Bahrain energy co-operation
Israel, the United Arab Emirates and Bahrain have signed a peace agreement that marks a step towards normalising diplomatic relationships in the Middle East.
Energean signs key gas sales contracts for Karish
Energean has signed a pair of key gas sales contracts for its Karish development in the eastern Mediterranean.
Israel approves Chevron deal for Noble
Israel’s Petroleum Council has backed the acquisition of Noble Energy by Chevron.
Turkey maintains Med stance with seismic move
Turkey’s Oruç Reis seismic ship has returned to port to resupply, the country’s energy ministry has said.
DNO cuts Tawke emissions with reinjection scheme
DNO’s Peshkabir gas capture and injection project, in Kurdistan, has launched and already captured 1 billion cubic feet of gas injected, in a major move to reduce emissions.
Fluor turns up the steam at Al-Zour
Fluor’s joint venture in Kuwait has started up two boilers at the new Al-Zour refinery.
Adnoc dishes out pipeline, terminal work
Adnoc Onshore has awarded engineering, procurement and construction (EPC) contracts for two main oil lines at the Jebel Dhanna terminal.
Aramco shelves $20 billion petrochemical plan after oil’s crash
Saudi Aramco is shelving multi-billion-dollar petrochemical and gas projects as the state oil giant’s determination to preserve its dividend despite a crash in energy prices forces it to cut back on major investments.
Saudi Arabia’s deep recession and collapsing oil prices: Can it recover?
The Gulf is slated to earn $270 billion less in oil revenue compared to last year. This is to a large extent because the region's economic heavyweight, Saudi Arabia, has been sinking deeper into recession amid the coronavirus pandemic.
Adnoc signs off on properties lease with Apollo
An Apollo Global Management-led group will pay $2.7 billion to Adnoc for a 49% lease in various properties.
One of the world’s richest petro-states is running out of cash
When Kuwait’s then-Finance Minister Anas Al-Saleh warned in 2016 that it was time to cut spending and prepare for life after oil, he was ridiculed by a population raised on a seemingly endless flow of petrodollars.
Saudi Aramco appoints new CEO for $500m investment arm
Saudi Aramco appointed a new chief executive officer to run its $500 million venture capital and investments arm after the previous head departed, according to people with knowledge of the situation.
Aramco reshuffles management team
Saudi Aramco reshuffled top management jobs, appointing an acting head for the upstream business, as the world’s biggest oil producer cuts spending to cope with low oil prices.
Iraq to sign memorandum with Chevron to explore for oil
Iraq plans to sign a memorandum of understanding with Chevron Corp. to explore for oil in the country’s southern province of Dhi Qar, according to a person familiar with the matter.
JGC wins Basra refinery work
JGC Corp. has won a letter of award for the Basra refinery upgrading project, in Iraq.
East Med allure launched Chevron’s move on Noble
Noble Energy raised the possibility of selling out to Chevron on May 12. The super-major took only until May 28 to indicate it would be keen for such a deal.
Aramco feels the squeeze
No company has been immune from the headwinds facing the global oil industry, even Saudi Aramco.
Turkey resumes East Med exploration
Turkey has issued a new navigational warning – navtex – on waters also claimed by Greece.
Delek refinances Leviathan debt
Delek Drilling has raised $2.25 billion through a bond issue to refinance debt taken out for its Leviathan project.
Genel takes losses but posts dividend
Genel Energy reported an operating loss of $340 million for the first half of the year, but still generated $6.5mn of free cash flow.