Simmons boss says 2021 shaping up to be exciting period for M&A
This year is shaping up to be an exciting period for mergers and acquisitions (M&As) in the oil and gas industry, according to Aberdeen-based energy finance expert Mike Beveridge.
Middle East
Aubin Group celebrates new Middle East deals worth £12m
Chemical engineering specialist Aubin Group is celebrating a strong start to 2021 with the announcement of a series of contract wins worth more than £12 million.
MRDS expands into the Middle East with the appointment of director
Drilling service firm MRDS has hired a director to spearhead its growth plans in the Middle East and North Africa (MENA).
Abu Dhabi funds invest $2.1billion in Adnoc gas pipelines
Abu Dhabi government institutional investors are paying $2.1 billion for a stake in a natural gas pipelines unit run by Abu Dhabi National Oil Co.
KCA Deutag wins £115million contract extensions in Oman
Aberdeen-headquartered KCA Deutag has announced the award of contract extensions worth more than $150m (£115million) in Oman.
Iran briefly seizes oil tanker near Strait of Hormuz, says US
The Iranian navy has boarded and briefly seized a Liberian-flagged oil tanker near the strategic Strait of Hormuz amid heightened tensions between Tehran and the US, an American military official said.
HSBC sees oil and coronavirus virus turmoil boosting Middle East deals
A historic crash in oil prices and fallout from the coronavirus pandemic will accelerate asset sales in the Middle East and open up a gap for sovereign wealth funds to make “opportunistic investments,” according to HSBC Holdings Plc.
Avoiding the pitfalls of Gulf labour market during a downturn
International oil and gas companies operating in the Gulf are well-versed in dealing with fluctuating oil prices.
Middle East, private equity interest a source of hope for oil service sector
Strong interest from the Middle East and private equity houses could provide a glimmer of hope for an ailing UK oilfield service sector, an investment expert has said.
Supply chain threatened with collapse, Woodmac warns
The upstream supply chain “faces the very real threat of collapse”, a new report from Wood Mackenzie has warned, setting the industry on the path of another crisis as demand recovers.
Aberdeen firm Namaka Subsea rises to surface thanks to global reach
Forged in the bitter winds of the 2014 North Sea oil downturn, Namaka Subsea has built itself up from a two-man Aberdeen operation to a 20-strong team spread across three global offices.
‘Major strides’ in US and Middle East bring growth for Craig International
Oilfield procurement specialists, Craig International, has continued to increase its global marketshare with two-thirds of the Aberdeen-headquartered company’s revenues now being generated outside of the UK.
The power of Scotland on show at Adipec
From November 11-14, the eyes of the global energy industry will be firmly fixed on the Abu Dhabi International Petroleum Exhibition & Conference (Adipec).
Experience and innovation: The recipe for successful decommissioning globally
In the 12 short months since my team and I attended Adipec 2018, so much has changed.
Abu Dhabi is vital event for Centrifuges Un-Limited
Oil and gas service company Centrifuges Un-Limited will draw on a successful track record in the North Sea and Middle East as it sets its sights on further global growth opportunities.
Sparrows creates 150 positions in UAE after sealing deals worth £55m-plus
Energy service firm Sparrows Group has created more than 150 new positions in the United Arab Emirates (UAE) after winning contracts worth more than £55 million over the past three months.
Trump claims to have ‘taken control’ of Middle East oil
President Donald Trump prompted a bout of head-scratching when he said the U.S. had control of the Middle East’s oil.
N-Sea wins trio of Middle East deals worth combined £12m
Subsea inspection, maintenance and repair (IMR) firm N-Sea has announced a trio of contracts worth about £12 million combined in the Middle East.
Theresa May to lead emergency meeting on Persian Gulf security
Prime Minister Theresa May will lead a meeting of the U.K. government’s emergency committee on Monday to discuss the security of shipping in the Persian Gulf after Iran seized a British oil tanker in the Strait of Hormuz last week.
Petrofac celebrates production start of ‘megaproject’ in Oman
Petrofac has celebrated the start-up of a major oil and gas production facility in Oman.
Aramco awards $18billion in deals for work at oil fields
Saudi Aramco, the world’s largest crude exporter, awarded $18 billion in contracts to boost output capacity at two offshore oil fields even as the kingdom and its OPEC partners restrict production.
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.
Political uncertainty is certain in Middle East
Since the Arab Spring in 2011, the Middle East and North Africa (MENA) region has faced continued political upheaval. But energy production and export remains central to its prosperity.
Losses widen for KCA Deutag despite ‘robust’ North Sea work
Aberdeen-based KCA Deutag saw its losses widen by 68% in its full year accounts yesterday, despite a “robust” performance from its North Sea business.
TWMA hires director to spearhead MENA region growth
Drilling waste management firm TWMA has hired Mohamed Galal as director for the Middle East and North Africa (MENA) region.