Chevron Phillips Chemical Co. will help gas-rich Qatar build the Middle East’s largest plant for production of ethylene, a key ingredient in plastics.
McDermott has won a “large” contract for work on two oil and gas fields off Saudi Arabia.
Crude kept rising following its biggest weekly gain since late 2016 after PresidentDonald Trump said he would impose “major additional sanctions” on Iran, exacerbating tensions in the oil-rich Middle East.
Lifting specialist Ace Winches is looking to pull in new customers with partnerships in Europe and the Middle East.
Oil tanker owners face spiraling insurance costs to load cargoes from the world’s largest crude-export region after the latest round of attacks on vessels.
Britain is currently backing the US in its assessment that Iran is responsible for suspected attacks on two oil tankers in the Gulf of Oman, the Foreign Secretary has said.
Two oil tankers near the strategic Strait of Hormuz have reportedly been attacked, leaving one ablaze and adrift as sailors were evacuated from both vessels and the US navy rushed to assist amid heightened tensions between Washington and Tehran.
UK oilfield services giant Petrofac has clinched a £60 million deal to provide procurement services for Petroleum Development Oman.
Aberdeen-headquartered Wood has secured work on a large petrochemicals plant in southern Oman.
Chemicals and plastics giant Ineos is set to spend two billion US dollars (£1.6 billion) on building three manufacturing plants in the Middle East for the first time.
An Aberdeen-headquartered well technology firm said a new multimillion-pound order showed the decision to target the Middle East market was paying dividends.
Saudi Aramco hired two Singapore-based traders and began dealing in fuel at the Middle East’s main bunkering port as the world’s biggest oil exporter expands further into the trading business.
The evacuation of some Exxon Mobil Corp. workers is “unacceptable and unwarranted” because it has nothing to do with the security situation in southern Iraq, according the country’s energy minister.
Aberdeen-headquartered Wellpro Group has announced its entry into the Middle East with a new acquisition.
The global oil price could shoot “violently upwards” following supply disruptions in the Middle East, including attacks on a pair of oil tankers.
Saudi Arabia has said two of its oil tankers were sabotaged off the coast of the United Arab Emirates in attacks that caused "significant damage" to the vessels, one of them as it was en route to pick up Saudi oil to take to the US.
A Saudi oilfield services company backed by the country’s sovereign wealth fund kicked off a planned $1.2 billion in acquisitions by buying Texas-based Schlumberger Ltd.’s Middle Eastern drilling-rig business.
Petrofac has secured a number of new awards and contract extensions, with a combined value of more than £23 million, to provide training solutions for key National Oil Company and International Oil Company clients in Oman, the UAE and Iraq.
Saudi Aramco will buy Shell’s 50% share of the SASREF refinery joint venture in Jubail Industrial City, Saudi Arabia, for £485 million.
Saudi Aramco intends to snap up Shell’s 50% stake in the SASREF refining complex, a news report said.
Saudi Arabia took its first major step onto the global financial stage to fund the heady ambitions of its crown prince, issuing $12 billion of bonds for its state-run oil company in one of the most oversubscribed debt offerings in history.
Saudi Aramco, the world’s largest oil company, has received $85 billion in orders for its debut bond sale, an offering where yields may fall in line or below Saudi Arabia’s sovereign debt.
Saudi Aramco, the world’s largest oil company, has received $75 billion in orders for its debut bond sale, kickstarting an offering with yields likely to fall in line or below Saudi Arabia’s sovereign debt.
In a bond sale closely watched by investors globally, Saudi Aramco and its bankers are preparing to kick off what could be at least a $10 billion offering this week. Early indications suggest investors are already crowding in.
The first official glimpse of Saudi Aramco’s financial performance confirms the state-run oil giant can generate profit like no other company on Earth: net income last year was $111.1 billion, easily outstripping U.S. behemoths including Apple Inc. and Exxon Mobil Corp.