“Global catastrophe” looms at Yemeni offshore oil storage site
The FSO Safer poses both a local environmental threat but also a major pitfall for shipping through the critical Red Sea and Suez Canal.
Saudi Arabia
Valaris wins UK decom work with Centrica amid clutch of contracts
Valaris has announced a clutch of contract awards, including decommissioning work with Centrica in the UK.
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).
Former Petrofac executive ordered to pay £140,000 over bribery case
A former Petrofac executive has been ordered to pay £140,000 over bribery offences in the Middle East.
Air Products awards Thyssenkrupp green hydrogen role at NEOM
Thyssenkrupp Uhde Chlorine Engineers has won work from Air Products to provide a 2 GW electrolysis unit to produce green hydrogen in Saudi Arabia.
Wood bags FEED contract with Saudi Aramco
Aberdeen-headquartered Wood has secured a multi-million dollar front-end engineering design (FEED) contract with Saudi Aramco.
World risks “ever more chaotic” transition, Aramco boss warns
The world is on course for a “deeply flawed” and “ever more chaotic energy transition”, Saudi Aramco CEO Amin Nasser has said, in comments at the World Petroleum Congress.
Aramco dishes out offshore work to McDermott, Worley
Saudi Aramco has awarded three contracts to McDermott offshore in the Arabian Gulf, shortly after handing Worley offshore work.
Macron oversees slew of French deals on visit to Middle East
French President Emmanuel Macron has overseen a number of commercial deals during his visit to the Middle East.
Saipem, Hyundai celebrate Jafurah work
Saipem and Hyundai have announced contract wins on the Jafurah development, in Saudi Arabia.
Aramco CEO stays bullish on oil demand after Friday’s price rout
Oil demand will bounce back to what it was before the coronavirus pandemic crushed energy use last year, and a rout in prices last week was based on unfounded fears of new variants of the disease, the head of Saudi Aramco said.
Aramco dishes out $10bn of contracts on Jafurah
Saudi Aramco has handed out contracts to a number of service companies to develop Jafurah, the largest non-associated gas field in Saudi Arabia.
US poised to release oil from reserve with other nations
President Joe Biden is preparing to announce a release of oil from the nation’s Strategic Petroleum Reserve (SPR) in concert with several other countries as soon as Tuesday, according to people familiar with the plan.
Lack of drive to mark Aberdeen’s ‘rich heritage’ makes oil rig tourist attraction unlikely
Hopes that Aberdeen could soon be home to an oil rig tourist attraction are unlikely to come to being in the near term, a local campaigner has claimed.
A renewable energy ‘Silk Road’
This week, the long-awaited COP26 conference finally got under way, bringing together world leaders to confront the challenge of climate change. But its outcomes, its ability to move the needle forward, is what matters to global citizens.
OPEC+ heads for geopolitical showdown as Biden demands more oil
OPEC+ is heading for a politically consequential showdown with President Joe Biden, as Saudi Arabia and its allies meet today to choose whether to heed American demands for more oil.
Lamprell raises cash amid challenges
Lamprell has signed up a debt facility and issued new capital, raising $45 million and $30.1mn respectively.
Air Products, ACWA Power reach close on $12bn Jazan project
ACWA Power has secured financial close on its $12 billion Jazan project, which will supply Saudi Aramco’s refinery under a 25-year deal.
How Saudi Arabia is planning to reach net zero by 2060
Saudi Arabia, the world’s largest oil exporter, committed to ending planet-warming emissions by 2060 but made clear the new plan won't work if the country is stopped from continuing to pump millions of barrels a day for decades.
Guide: The polluting countries that could derail COP26 climate talks
More than 190 countries signed on the dotted line of the Paris Agreement in 2015, forming a new global consensus on the imperative to halt rising temperatures. The collective results since then haven’t been enough.
VIDEO: Saudi Arabia unveils plans for huge oil rig theme park
Saudi Arabia has unveiled its plan for “The Rig”, a 150,000 square metre theme park using an oil and gas platform.
Fuel shortages drive “range anxiety” woes
UK drivers face “range anxiety” as a result of fuel shortages, while a cold winter could push Brent prices to $100 per barrel, BofA Securities has warned.
End of Petrofac investigation will unlock ‘lucrative’ Saudi and UAE markets
An investigation into allegations of bribery at Petrofac, which wrapped up yesterday, “will unlock the lucrative” Saudi Arabia and United Arab Emirates (UAE) markets.
Aramco aims for 13mn bpd by 2027
Saudi Arabia will push ahead with plans to increase oil production capacity to 13 million barrels per day by 2027.
Updated: Petrofac charged with seven separate offences of failing to prevent bribery, intends to plead guilty
Energy services giant Petrofac has been charged with seven separate offences of failing to prevent bribery between 2011 and 2017.