ADNOC awards two contracts worth $3.5billion to Samsung Engineering
Abu Dhabi National Oil Company (ADNOC) has awarded two contracts worth over $3.5billion (£2.4billion) to Samsung Engineering.
Middle East
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BP squeezed out of Abu Dhabi offshore oil as China, Italy win
When oil-rich Abu Dhabi put a string of offshore fields up for auction, suitors from China to Italy vied for a slice of the pie. Surprisingly, that piece was snatched from one of the world’s largest energy conglomerates.
Total in £1.04bn deal for UAE concessions
French energy giant Total will stump up £1.04billion for stakes in two UAE concessions.
Saudi Arabia ‘blocks some German businesses’ over rift
Saudi Arabia is cutting back on its dealings with some German companies amid a diplomatic spat with its top European trading partner, according to people with knowledge of the matter.
Joint venture behind new Saudi maritime yard up and running
A joint venture which was set up to develop a major maritime yard in Saudi Arabia is up and running.
Saudi Aramco IPO likely to be delayed until 2019
Saudi Aramco’s floatation on the stock market could be delayed until 2019, according to a news report.
WoodMac: ENI deal with Abu Dhabi lays foundation for Middle East portfolio
Abu Dhabi National Oil Company (ADNOC) has signed 40-year agreements with Italian multinational oil firm Eni, for stakes in two of the country’s concession areas.
Middle East was the making of Jo
A posting to the Middle East was the making of Aberdeen businesswoman Jo McIntosh.
Adnoc to build world’s largest refining and chemical site
The Abu Dhabi National Oil Company (Adnoc) has set out plans to become a major global player in the downstream segment.
KCA Deutag see opportunities ‘all over Middle East’ after Dalma deal
Bosses at KCA Deutag (KCAD) said yesterday that there were great opportunities “all over the Middle East” after striking a deal to expand the firm’s operations in the region.
KCA Deutag in £480m Dalma takeover
Aberdeen-headquartered KCA Deutag (KCAD) has struck a £480million deal to take over a rival drilling contractor’s Omani and Saudi businesses.
Saudi Arabia among lowest oil field emissions on planet, Venezuela highest, study shows
A new study published in Nature found oil fields in Saudi Arabia had among the lowest greenhouse gas emissions on the planet, a feather in the cap of the Middle Eastern kingdom as governments worldwide combat climate change.
OMV poised to clinch Abu Dhabi concesssion
Austrian oil producer OMV AG is poised to win a deal to produce oil from offshore fields in Abu Dhabi, according to people with knowledge of the situation.
Inpex buys stake in Abu Dhabi oil concession for $600m
The Abu Dhabi National Oil Company (Adnoc) has sold Japan's Inpex a 10% stake in the offshore Lower Zakum concession for $600million.
Middle East activity to thank for ‘exceptional’ 2017, McDermott says
Oil service company McDermott said an uplift in activity in the Middle East was behind its “exceptional” results in 2017.
Israeli gas company announces export deal with Egypt
An Israeli energy company has announced a 15 billion dollar (£10.6 billion) deal to supply natural gas to Egypt, in the largest export agreement to date for Israel's nascent natural gas industry.
Abu Dhabi awards oil field stake to Cepsa for $1.5bn
Abu Dhabi awarded a second slice of its offshore oil concessions in as many weeks, this time to Spanish refiner and producer Cia Espanola de Petroleos SA for a $1.5 billion fee.
Stats Group wins bumper contract on 20th birthday
A north-east pipeline technology firm has netted its largest ever contract 20 years on from its establishment.
Wood bags new Saudi Aramco contract
Oil service firm Wood has secured a five-year contract to help deliver one of Saudi Aramco's mega-projects.
Indians pay $600m for stake in Abu Dhabi oil concession
Indian companies agreed to pay $600 million for a stake in one of Abu Dhabi’s biggest offshore oil concessions, securing a share in the emirate’s crude production for the first time.
Total enters exploration block close to Lebanon-Israeli border dispute
French energy giant Total has entered into an oil and gas field in close proximity to the Israeli-Lebanese border dispute in the Middle East.
Oil price boost helps Taqa post annual profit
Abu Dhabi energy firm Taqa has posted a net profit for its preliminary results for 2017, after a loss of AED 16 billion (£3.1billion) in 2016.
Aramco’s Asia light oil pricing steady in sign of slower demand
Saudi Arabia kept pricing for its main crude grade to Asia unchanged for a second month as the world’s largest crude exporter responds to slower seasonal demand.
Iraq oil-export ambitions seen putting strain on OPEC accord
OPEC likes to trumpet its record-breaking compliance with output cuts. Yet one of its largest members has been opening the taps and doesn’t plan to scale back any time soon.
Genel Energy’s production drops as focus shifts to gas fields
Genel Energy has announced it expects its oil and gas production to fall for a third year in 2018.