fetching latest news

News tagged in:  

Middle East NEWS

Oil Plus secures big deals in ME & India category
Sept. 6, 2018
Source: Energy Voice

Oil Plus secures big deals in ME & India

Newbury-based Oil Plus has secured £625,000 worth of deals in regions of Middle East and India. Oil Plus will provide Al Khafji Joint Operations (KJO) with five-month water injection compatibility studies and engineering work. Aramco Gulf Operations Company and Kuwait Gulf Oil Company jointly operate KJO. The firm is also looking to increase its technical headcount, and has plans to recruit some more people for the team.

Sadara signs pipeline contract with Foster Wheeler category
May 29, 2018

Sadara signs pipeline contract with Foster Wheeler

Sadara Chemical Company, a venture of Saudi Aramco and the Dow Chemical Company, has signed a contract with Amec Foster Wheeler and Partners Engineering Co. for the detailed design and procurement of two pipelines. The two EO/PO pipeline transportation systems are 7 km long, and first of its kind, in the entire region of Middle East and North Africa (MENA).

Mubadala acquires stake in Gazprom Neft-Vostok category
May 25, 2018
Source: Rigzone

Mubadala acquires stake in Gazprom Neft-Vostok

Abu Dhabi's state-owned Mubadala Investment Company has acquired a 44 percent stake worth $271 million in Gazprom Neft-Vostok, an oil subsidiary of the Gazprom, Russia. The Russian oil subsidiary's combined production reduced by 3 percent to 1.64 million tons in 2017 following an agreement between OPEC, Russia, and other producers in the same year, to bring down global oil output to eliminate oversupply.

JODCO Lower Zakum Ltd. appointed as asset leader by ADNOC category
May 12, 2018

JODCO Lower Zakum Ltd. appointed as asset leader by ADNOC

JODCO Lower Zakum Limited, a wholly-owned subsidiary of Japan’s INPEX Corp. has been appointed as the asset leader for Abu Dhabi’s Lower Zakum concession area by ADNOC. This move is followed by the award of 10% stake in offshore Lower Zakum concession to INPEX in February, 2018. INPEX also maintained its 40% stake in Satah and increased its Umm Al Dalkh share from 12% to 40%.

“We are determined to stabilise the global oil supply market, ” says Khalid Al Falih category
May 11, 2018

“We are determined to stabilise the global oil supply market, ” says Khalid Al Falih

Following President Trump’s decision to abandon the international nuclear deal with Iran, Khalid Al Falih, Saudi Arabia’s Minister of Energy, Industry and Mineral Resources has stated that the kingdom is prepared to step in and help stabilise the global oil supply market. The statement came out promising at the backdrop of market analysts’ prediction that Iran’s output could drop by around 500,000 barrels per day (bpd) within six months.

India’s oil import will not be affected by US sanctions on Iran category
May 10, 2018
Source: Economic Times

India’s oil import will not be affected by US sanctions on Iran

India’s oil imports won’t be affected by US withdrawing from the landmark 2015 accord and reinstating financial sanctions on Iran as India pays its oil suppliers in Euros using European banking channels & unless these are blocked, imports will continue. “Immediately there will be no impact but we have to wait and watch how other nations particularly the European blocks, react,” said A K Sharma, Director (Finance) at IOCL.

ADNOC’s Downstream Director’s message at RDPETRO 2018 category
May 10, 2018

ADNOC’s Downstream Director’s message at RDPETRO 2018

Abdulaziz Alhajri, downstream director at ADNOC addressed the largest R&D conference for the oil and gas industry, International Research and Development Petroleum Conference and Exhibition (RDPETRO) in Abu Dhabi. In his keynote speech he emphasised that increasing global demand for high-value refined and petrochemical products is creating new growth opportunities across the value chain, at a time when unlocking oil and gas resources becomes more challenging.

Saudi Arabia’s $100 Oil quandary category
April 27, 2018

Saudi Arabia’s $100 Oil quandary

There are rumours that Saudi Arabia wants oil prices to be at $100 per barrel. However, if prices rise to this level, it could evoke the next downturn. They want more revenues for their budget and a higher oil price to enhance Aramco IPO’s valuation. But this momentary thought could be troublesome for them and the oil prices, and ultimately the oil demand.

ADNOC licensed to own, operate and manage fuel stations across Saudi Arabia category
April 23, 2018

ADNOC licensed to own, operate and manage fuel stations across Saudi Arabia

The Ministry of Municipal and Rural Affairs (MOMRA) has awarded license to ADNOC Distribution to own, operate and manage fuel service stations in Saudi Arabia. This license shall pave the way for ADNOC Distribution to spread its roots vigorously as it is committed to expand choice for fuel customers, to improve its convenience store offering and being cost-efficient.

Oil Plus enhances its imprint in Middle East category
April 20, 2018

Oil Plus enhances its imprint in Middle East

Oil Plus, the oil and gas water injection specialist, has considerably expanded its footprint in the Middle East after securing contracts worth more than $1.5 million in the last three months. The firm will deliver reservoir souring modelling, production chemistry and iron sulphide studies for several international oil companies in Saudi Arabia, Kuwait, Brazil, Thailand and Europe.

Oil hits USD 74 barrel high in three years category
April 19, 2018

Oil hits USD 74 barrel high in three years

Hitting levels not witnessed since 2014, brent crude broke through $74 a barrel on Thursday in early trading. As suggested by a Reuters report that Saudi Arabia and Russia, a key driver in a 24 oil producing economies consortium that has recovered its daily output by 1.8mn barrels/day in the last fifteen months, wants to see oil prices returning to $100/barrel.

ENi has no intention to pull out of Rosneft category
April 19, 2018

ENi has no intention to pull out of Rosneft

Despite major new sanctions imposed against Russia by the United States earlier this month, Italian oil major Eni has no plans to pull out of its joint venture with Russia’s Rosneft. The CEO of Eni has said that working in cooperation with Roseneft is strategic for the energy security of Italy.

DED to support start-ups at RDPETRO category
April 18, 2018

DED to support start-ups at RDPETRO

The Department of Economic Development (DED) of Abu Dhabi has announced support for the Start-Up Hub at RDPETRO, to be held during 9-10 May, 2018. It is the largest international oil and gas conference completely dedicated to research and development in this field and presents tremendous business opportunities for the emerging organizations.

OVL files arbitration claim against Sudan category
April 18, 2018
Source: Economic Times

OVL files arbitration claim against Sudan

India’s ONGC Videsh Ltd. has filed an arbitration claim against the Sudanese government in a London court, to recover long pending dues from a project that was hit by the disintegration of South Sudan in 2011. Sudan’s ambassador to India says that the country is facing problems in making the payments due to the sanctions imposed on Sudan.

India to coordinate with China against Asian Premium category
April 16, 2018
Source: Economic Times

India to coordinate with China against Asian Premium

Dharmendra Pradhan, the Union Petroleum Minister of India, has said that India will join hands with China and other Asian countries to challenge the ‘Asian Premium’ being charged by the OPEC. Asian Premium is the extra charge being collected by OPEC nations from Asian countries when selling oil and India has been expressing dissent against it.

Petronet LNG and OVL together to pick stake in Qatar project category
April 11, 2018
Source: Economic Times

Petronet LNG and OVL together to pick stake in Qatar project

Petronet wants to collaborate with the overseas wing of India’s biggest explorer, ONGC Videsh Ltd., to pick up a stake in an upcoming exploration and liquefied natural gas (LNG) project in Qatar, as revealed by a top company official. It will be a maiden venture of Petronet in LNG E&P business and overseas LNG terminals.

ADNOC Distribution approves USD  200 mn in dividend category
April 10, 2018

ADNOC Distribution approves USD 200 mn in dividend

At ADNOC Distribution’s first Annual General Meeting (AGM), the shareholders of the company approved a $200 million dividend payment. ADNOC Distribution is UAE’s largest fuel and convenience retailer and the dividend has been approved owing to the landmark achievements of the firm in 2017 and its successful listing on the Abu Dhabi Securities Exchange (ADX).

Motiva signs MoUs with Honeywell UOP and TechnipFMC worth USD 10bn category
April 10, 2018

Motiva signs MoUs with Honeywell UOP and TechnipFMC worth USD 10bn

Saudi Aramco’s wholly-owned downstream oil and gas subsidiary, Motiva Enterprises, has signed MoUs up to $10 billion with the US companies Honeywell UOP and TechnicpFMC. The MoUs have been signed to support Motiva’s expansion into petrochemicals. Moreover, the announcements strengthen Aramco’s commitment to serve both the nations over the long term.

Please Login to Save News for Later