A historic crash in oil prices and fallout from the coronavirus pandemic will accelerate asset sales in the Middle East and open up a gap for sovereign wealth funds to make “opportunistic investments,” according to HSBC Holdings Plc.
International oil and gas companies operating in the Gulf are well-versed in dealing with fluctuating oil prices.
Strong interest from the Middle East and private equity houses could provide a glimmer of hope for an ailing UK oilfield service sector, an investment expert has said.
The upstream supply chain “faces the very real threat of collapse”, a new report from Wood Mackenzie has warned, setting the industry on the path of another crisis as demand recovers.
Forged in the bitter winds of the 2014 North Sea oil downturn, Namaka Subsea has built itself up from a two-man Aberdeen operation to a 20-strong team spread across three global offices.
Oilfield procurement specialists, Craig International, has continued to increase its global marketshare with two-thirds of the Aberdeen-headquartered company’s revenues now being generated outside of the UK.
From November 11-14, the eyes of the global energy industry will be firmly fixed on the Abu Dhabi International Petroleum Exhibition & Conference (Adipec).
In the 12 short months since my team and I attended Adipec 2018, so much has changed.
Oil and gas service company Centrifuges Un-Limited will draw on a successful track record in the North Sea and Middle East as it sets its sights on further global growth opportunities.
Energy service firm Sparrows Group has created more than 150 new positions in the United Arab Emirates (UAE) after winning contracts worth more than £55 million over the past three months.
President Donald Trump prompted a bout of head-scratching when he said the U.S. had control of the Middle East’s oil.
Subsea inspection, maintenance and repair (IMR) firm N-Sea has announced a trio of contracts worth about £12 million combined in the Middle East.
Prime Minister Theresa May will lead a meeting of the U.K. government’s emergency committee on Monday to discuss the security of shipping in the Persian Gulf after Iran seized a British oil tanker in the Strait of Hormuz last week.
Petrofac has celebrated the start-up of a major oil and gas production facility in Oman.
Saudi Aramco, the world’s largest crude exporter, awarded $18 billion in contracts to boost output capacity at two offshore oil fields even as the kingdom and its OPEC partners restrict production.
The global oil price could shoot “violently upwards” following supply disruptions in the Middle East, including attacks on a pair of oil tankers.
Since the Arab Spring in 2011, the Middle East and North Africa (MENA) region has faced continued political upheaval. But energy production and export remains central to its prosperity.
Aberdeen-based KCA Deutag saw its losses widen by 68% in its full year accounts yesterday, despite a “robust” performance from its North Sea business.
Drilling waste management firm TWMA has hired Mohamed Galal as director for the Middle East and North Africa (MENA) region.
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).
Oil field service giant Baker Hughes, a GE company (BHGE) will buy a 5% stake in Adnoc Drilling for $550 million.
An Aberdeen-headquartered oil field technology firm has won a new contract worth about £2.25 million to supply equipment to an unspecified operator in Saudi Arabia.
Italian contractor Saipem has been awarded a pipeline project in the Middle East worth about $1.3 billion.