OMV will buy 20% of two offshore oil fields in Abu Dhabi, the Austrian firm said. It will pay $1.5billion for the stakes in Satah Al Razboot and Umm Lulu. OMV expects to sign on the dotted line with Abu Dhabi National Oil Company by the end of this month.
Bahrain, the smallest energy producer in the Persian Gulf, discovered its biggest oil field since it started producing crude in 1932, according to the country’s official news agency.
Abu Dhabi National Oil Company (ADNOC) has awarded two contracts worth over $3.5billion (£2.4billion) to Samsung Engineering.
When oil-rich Abu Dhabi put a string of offshore fields up for auction, suitors from China to Italy vied for a slice of the pie. Surprisingly, that piece was snatched from one of the world’s largest energy conglomerates.
French energy giant Total will stump up £1.04billion for stakes in two UAE concessions.
Saudi Arabia is cutting back on its dealings with some German companies amid a diplomatic spat with its top European trading partner, according to people with knowledge of the matter.
A joint venture which was set up to develop a major maritime yard in Saudi Arabia is up and running.
Saudi Aramco’s floatation on the stock market could be delayed until 2019, according to a news report.
Abu Dhabi National Oil Company (ADNOC) has signed 40-year agreements with Italian multinational oil firm Eni, for stakes in two of the country’s concession areas.
A posting to the Middle East was the making of Aberdeen businesswoman Jo McIntosh.
The Abu Dhabi National Oil Company (Adnoc) has set out plans to become a major global player in the downstream segment.
Bosses at KCA Deutag (KCAD) said yesterday that there were great opportunities “all over the Middle East” after striking a deal to expand the firm’s operations in the region.
Aberdeen-headquartered KCA Deutag (KCAD) has struck a £480million deal to take over a rival drilling contractor’s Omani and Saudi businesses.
A new study published in Nature found oil fields in Saudi Arabia had among the lowest greenhouse gas emissions on the planet, a feather in the cap of the Middle Eastern kingdom as governments worldwide combat climate change.
Austrian oil producer OMV AG is poised to win a deal to produce oil from offshore fields in Abu Dhabi, according to people with knowledge of the situation.
The Abu Dhabi National Oil Company (Adnoc) has sold Japan's Inpex a 10% stake in the offshore Lower Zakum concession for $600million.
Oil service company McDermott said an uplift in activity in the Middle East was behind its “exceptional” results in 2017.
An Israeli energy company has announced a 15 billion dollar (£10.6 billion) deal to supply natural gas to Egypt, in the largest export agreement to date for Israel's nascent natural gas industry.
Abu Dhabi awarded a second slice of its offshore oil concessions in as many weeks, this time to Spanish refiner and producer Cia Espanola de Petroleos SA for a $1.5 billion fee.
A north-east pipeline technology firm has netted its largest ever contract 20 years on from its establishment.
Oil service firm Wood has secured a five-year contract to help deliver one of Saudi Aramco's mega-projects.
Indian companies agreed to pay $600 million for a stake in one of Abu Dhabi’s biggest offshore oil concessions, securing a share in the emirate’s crude production for the first time.
French energy giant Total has entered into an oil and gas field in close proximity to the Israeli-Lebanese border dispute in the Middle East.
Abu Dhabi energy firm Taqa has posted a net profit for its preliminary results for 2017, after a loss of AED 16 billion (£3.1billion) in 2016.
Saudi Arabia kept pricing for its main crude grade to Asia unchanged for a second month as the world’s largest crude exporter responds to slower seasonal demand.