Massive oil rig tourist resort doubles in size following new plans
The firm behind ‘The Rig’, a proposed adventure resort on a decommissioned oil rig, has revealed its “masterplan” as the project scales up.
Public Investment Fund (PIF)
Aramco posts barnstorming quarter
Saudi Aramco has posted its strongest quarterly results since going public, with net income of $39.5 billion and free cash flow of $30.6bn.
First tenders floated for Saudi’s $5bn oil rig theme park: report
The first tenders have reportedly been launched for a huge offshore oil rig theme park mooted by Saudi Arabia, with potentially more than $5 billion of work up for grabs.
ADES continues rig-buying drive with pair of Valaris jack-ups
Valaris has sold two sold heavy duty jack-up rigs to a unit of ADES International, as the Dubai-based contractor continues to pick up assets from across the globe.
Vantage sells three jack-ups to Saudi-owned ADES
Vantage Drilling International has agreed to sell three jack-up rigs to ADES Arabia, owned by Saudi Arabia’s Public Investment Fund (PIF).
PIF deal cuts risk for ADES of contract renegotiations
Saudi Arabia’s purchase of ADES International reduces the risk that the company’s contracts be cancelled or renegotiated, Fitch Ratings has said.
Saudi Arabia wealth fund to buy ADES
Innovative Energy has made an all-cash $12.5 per share offer to take ADES International into Saudi Arabian hands.
Saudi’s PIF increases ACWA Power involvement
Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in ACWA Power to 50%, from 33.6%.
Aramco closes $69bn Sabic deal
Saudi Aramco has completed its purchase of a 70% stake in Saudi Basic Industries Corp. (Sabic) for $69.1 billion.