Petrofac wins £60m contract for Oman job
UK oilfield services giant Petrofac has clinched a £60 million deal to provide procurement services for Petroleum Development Oman.
Middle East
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Wood wins contract for petrochemicals plant in Oman
Aberdeen-headquartered Wood has secured work on a large petrochemicals plant in southern Oman.
Ineos to splash £1.6bn on Saudi plants
Chemicals and plastics giant Ineos is set to spend two billion US dollars (£1.6 billion) on building three manufacturing plants in the Middle East for the first time.
Deep Casing Tools bags new £2.4m order in Middle East
An Aberdeen-headquartered well technology firm said a new multimillion-pound order showed the decision to target the Middle East market was paying dividends.
Aramco starts fuel trading from UAE with ex-BP, Pemex hires
Saudi Aramco hired two Singapore-based traders and began dealing in fuel at the Middle East’s main bunkering port as the world’s biggest oil exporter expands further into the trading business.
Iraq says Exxon Evacuation of staff is `unacceptable’
The evacuation of some Exxon Mobil Corp. workers is “unacceptable and unwarranted” because it has nothing to do with the security situation in southern Iraq, according the country’s energy minister.
Wellpro Group makes seven-figure acquisition in Middle East
Aberdeen-headquartered Wellpro Group has announced its entry into the Middle East with a new acquisition.
Oil price could shoot ‘violently upwards’ after Middle East tanker attacks, Rystad says
The global oil price could shoot “violently upwards” following supply disruptions in the Middle East, including attacks on a pair of oil tankers.
Saudi Arabia says two oil tankers sabotaged
Saudi Arabia has said two of its oil tankers were sabotaged off the coast of the United Arab Emirates in attacks that caused "significant damage" to the vessels, one of them as it was en route to pick up Saudi oil to take to the US.
Saudi Taqa sees $1.2 billion in America, Middle East oil deals
A Saudi oilfield services company backed by the country’s sovereign wealth fund kicked off a planned $1.2 billion in acquisitions by buying Texas-based Schlumberger Ltd.’s Middle Eastern drilling-rig business.
Petrofac wins contracts worth £23m-plus in Middle East
Petrofac has secured a number of new awards and contract extensions, with a combined value of more than £23 million, to provide training solutions for key National Oil Company and International Oil Company clients in Oman, the UAE and Iraq.
Shell confirms £485m deal to sell refinery stake to Aramco
Saudi Aramco will buy Shell’s 50% share of the SASREF refinery joint venture in Jubail Industrial City, Saudi Arabia, for £485 million.
Saudi Aramco sweet on Shell’s stake in refining complex, report says
Saudi Aramco intends to snap up Shell’s 50% stake in the SASREF refining complex, a news report said.
Saudi Aramco sells $12 billion of bonds in unprecedented debut
Saudi Arabia took its first major step onto the global financial stage to fund the heady ambitions of its crown prince, issuing $12 billion of bonds for its state-run oil company in one of the most oversubscribed debt offerings in history.
Saudis emerge from Khashoggi crisis with $85bn bond orders
Saudi Aramco, the world’s largest oil company, has received $85 billion in orders for its debut bond sale, an offering where yields may fall in line or below Saudi Arabia’s sovereign debt.
Saudis emerge from Khashoggi crisis with $75 billion orders
Saudi Aramco, the world’s largest oil company, has received $75 billion in orders for its debut bond sale, kickstarting an offering with yields likely to fall in line or below Saudi Arabia’s sovereign debt.
Saudi Aramco set for mega debt deal pitched by JPMorgan’s Dimon
In a bond sale closely watched by investors globally, Saudi Aramco and its bankers are preparing to kick off what could be at least a $10 billion offering this week. Early indications suggest investors are already crowding in.
Aramco unveils financial secrets of world’s most profitable firm
The first official glimpse of Saudi Aramco’s financial performance confirms the state-run oil giant can generate profit like no other company on Earth: net income last year was $111.1 billion, easily outstripping U.S. behemoths including Apple Inc. and Exxon Mobil Corp.
Saudi Aramco in £52.2billion deal for majority stake in Sabic
Saudi Aramco has signed a £52.2billion deal to acquire a majority stake in petrochemicals firm Sabic from the country’s sovereign wealth fund.
KKR, BlackRock invest $4bn in Abu Dhabi pipelines
KKR & Co. and BlackRock Inc. agreed to invest $4 billion in Abu Dhabi’s oil pipelines, securing two decades of guaranteed returns and providing the Middle Eastern energy producer a cash injection to help diversify its economy.
Wood wins £6m contract with ADNOC to design ‘world’s largest’ refinery
Aberdeen-headquartered Wood has won a £6million contract with Abu Dhabi National Oil Company (ADNOC) to design the “world’s largest refining and petrochemicals complex”.
Aberdeen University plans £100m Qatar campus
Aberdeen University has announced plans to “export its expertise in teaching and research” by creating a new £100 million campus in the Middle East.
Genel to buy stakes in Kurdistan blocks from Chevron
Genel Energy has agreed to buy stakes in the Chevron-operated Sarta and Qara Dagh blocks, in the Kurdistan Region of Iraq, for $60 million.
Saipem bags Aramco contracts worth £1bn
Saipem has been awarded two contracts worth £1 billion by Saudi Aramco.
BP, Eni team up for Oman project
UK oil major BP and Italian firm Eni have joined forces to progress a new exploration opportunity in Oman.