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.
Saudi Aramco has signed a £52.2billion deal to acquire a majority stake in petrochemicals firm Sabic from the country’s sovereign wealth fund.
KKR & Co. and BlackRock Inc. agreed to invest $4 billion in Abu Dhabi’s oil pipelines, securing two decades of guaranteed returns and providing the Middle Eastern energy producer a cash injection to help diversify its economy.
Aberdeen-headquartered Wood has won a £6million contract with Abu Dhabi National Oil Company (ADNOC) to design the “world’s largest refining and petrochemicals complex”.
Aberdeen University has announced plans to “export its expertise in teaching and research” by creating a new £100 million campus in the Middle East.
Genel Energy has agreed to buy stakes in the Chevron-operated Sarta and Qara Dagh blocks, in the Kurdistan Region of Iraq, for $60 million.
Saipem has been awarded two contracts worth £1 billion by Saudi Aramco.
UK oil major BP and Italian firm Eni have joined forces to progress a new exploration opportunity in Oman.
Saudi Arabia published the first audit of its vast oil reserves since it nationalized its energy industry about 40 years ago, saying its reserves total 268.5 billion, slightly more than the 266.3 billion figure that the government published previously.
Terrorism, falling oil prices and the effect on tourism were among the forecast impacts on Scotland of the Iraq War discussed by Scottish ministers, newly-released official papers show.
Lamprell has received a letter of intent for the construction and delivery of two jackup drilling units.
Energy services firm Halliburton has won a contract for work on the giant Zubair Oil Field in Southern Iraq.
Aberdeen-headquartered Deep Casing Tools has secured a £1.1m order with a major oil and gas operator in the Middle East.
Ades International Holding has completed the acquisition of eleven onshore rigs from Weatherford International in Saudi Arabia.
Wintershall has picked up a 10% stake in a giant gas project in Abu Dhabi.
Drilling waste management firm TWMA has hired Mohamed Galal as director for the Middle East and North Africa (MENA) region.
Wood has secured a multi-million dollar contract extension from ADNOC Offshore for services to the UZ750 mega project offshore Abu Dhabi.
Eni SpA won rights to develop major natural gas fields in Abu Dhabi, the company’s chief executive officer said, a deal that could help the Middle Eastern emirate become a net exporter of the fuel.
A north-east supplier of remotely operated vehicles (ROVs) has opened a new base in the Middle East as part of its expansion drive.
Total and Abu Dhabi National Oil Company (Adnoc) have agreed to launch an unconventional gas exploration programme.
Energy service giant Wood has secured three new contracts worth more than £40 million with a subsidiary of Abu Dhabi National Oil Company (Adnoc).
Drilling company Ades International Holding has bought 12 onshore rigs from Weatherford in Kuwait for £94 million.
Total SA boss Patrick Pouyanne proved once again that he’ll go where other business leaders fear to tread.