Oil price could shoot ‘violently upwards’ after Middle East tanker attacks, Rystad says
The global oil price could shoot “violently upwards” following supply disruptions in the Middle East, including attacks on a pair of oil tankers.
Middle East
Political uncertainty is certain in Middle East
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.
Losses widen for KCA Deutag despite ‘robust’ North Sea work
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.
TWMA hires director to spearhead MENA region growth
Drilling waste management firm TWMA has hired Mohamed Galal as director for the Middle East and North Africa (MENA) region.
Rovop expands in Middle East with new base
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, Adnoc launch unconventional gas exploration programme
Total and Abu Dhabi National Oil Company (Adnoc) have agreed to launch an unconventional gas exploration programme.
Wood ties up contracts worth £40m with Adnoc Onshore
Energy service giant Wood has secured three new contracts worth more than £40 million with a subsidiary of Abu Dhabi National Oil Company (Adnoc).
BHGE in $550m swoop for Adnoc Drilling stake
Oil field service giant Baker Hughes, a GE company (BHGE) will buy a 5% stake in Adnoc Drilling for $550 million.
Deep Casing Tools nets £2.25m Middle East deal, hires new regional manager
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.
Saipem bags $1.3bn Middle East contract
Italian contractor Saipem has been awarded a pipeline project in the Middle East worth about $1.3 billion.
Oil holds gains as Mid East clashes raise risks after Saudi cuts
Oil held gains near $71 a barrel after escalating conflict in the Middle East raised geopolitical risks and as most OPEC members cut output more than required last month.
Bahrain celebrates biggest oil discovery since 1932
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.
Total takes risk on Middle East as rivals favor US
Patrick Pouyanne, the pugnacious boss of Total SA, sees risks differently.
Middle East activity to thank for ‘exceptional’ 2017, McDermott says
Oil service company McDermott said an uplift in activity in the Middle East was behind its “exceptional” results in 2017.
Oil price boost helps Taqa post annual profit
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.
Motive, CUT set up Middle East diamond wire pact
A pair of north-east firms will team up to make an impact on the diamond wire cutting market in the Middle East.
Wood backing efforts to diversify Saudi economy
Aberdeen company Wood said yesterday it was backing efforts to strengthen and diversify the economy of Saudi Arabia and remained committed to “creating and accelerating” employment opportunities in the kingdom.
Adipec 2017: Cyber attacks on energy sector rising in Middle East
Energy is overtaking banking and finance as a target for cyber-criminals in the Middle East, security experts have said.
Adipec 2017: Conference coming at ‘just the right time’ for north-east firms
North-east firms visiting one of the world’s biggest oil and gas conferences next week have said Adipec 2017 is coming at the “right time”.
Petrofac wins $30m Iraq deal
Petrofac today confirmed it had won a $30million deal with PetroChina for the Halfaya Contract Area (Halfaya) in southern Iraq.
Ades looks to go from strength to strength after London listing
A fledgling oil and gas drilling services firm which listed in London this year plans to continue its strong start to life with exclusive marketing deals with shipyards.
DNO takes of operator role for Kurdistan licence
Norwegian oil and gas operator DNO has agreed to take over the operatorship of a licence in Kurdistan from ExxonMobil.
AGR secures £6million in contracts for 2017
Energy services and software provider AGR put pen to paper on eight contracts over their UK and Middle East businesses this year.
Gulf still depending on a rally three years into cheap oil
Energy-rich Gulf Arab nations have scrambled to adjust to the slump in oil prices since 2014. Three years on, their economies are mired in weak growth and largely just as dependent on crude as they ever were.
US approves GE, Baker Hughes merger
The U.S. Department of Justice has reached an agreement on the merger of Houston oil field services company Baker Hughes and General Electric’s oil and gas division, clearing the way for shareholders to approve the deal.