Saudi Aramco Base Oil, a refining unit of the state-owned oil producer, slumped in its trading debut following an initial public offering that raised $1.32 billion, bucking the trend for strong debuts in the Gulf region amid the gloomy outlook for the global economy.
London-listed Oracle Power, via its joint venture Oracle Energy, has leased 7,000 acres of land in Pakistan, where it proposes to build what could be the country’s first green hydrogen project.
The war in Ukraine is strengthening the role of Asia and the Middle East as the world’s main providers of fuels like diesel and gasoline that are crucial to the global economy.
Singapore yard Keppel O&M has delivered the first of three jack-up rigs novated by Borr Driling to ADNOC Drilling.
The Middle East’s investments in energy will see the region come to lead in the energy transition, Wood CEO Ken Gilmartin has said.
Thailand’s PTT Exploration & Production (BKK:PTTEP) further expands its investment in the United Arab Emirates (UAE) by acquiring 25% participating interest in the Sharjah Onshore Area A from Italy’s Eni (MIL:ENI).
China Oilfield Services Ltd (COSL) has won a number of drilling contracts from one company in the Middle East worth 14 billion yuan ($1.92bn).
Thailand’s PTTEP (BKK:PTTEP) has announced another “significant gas discovery” from its first exploration well in the United Arab Emirates (UAE), together with partner Eni (MIL:ENI) of Italy, that paves the way for “establishing a strong presence” in the Middle East nation.
Aubin Group, the Ellon-based developer and supplier of chemical solutions, has secured a two-year contract worth $5 million (£4.2m) to manufacture and supply fluid loss additives to a major drilling company in the Middle East.
Saipem (MI: SPM) has been awarded several contracts, onshore and offshore, in the Middle East worth around $1.2 billion.
STATS Group has added more staff to its Middle East operations as the result of a post-Covid uptick in project activities, while one of its most experienced pipeline intervention experts has relocated to the region.
Singapore rig builder Keppel Offshore & Marine (Keppel O&M) will send another two jack-up rigs to the Middle East in a deal worth up to S$120 million (US$87.2 million) as the oil and gas market improves.
Italian energy contractor Saipem (BIT: SPM) has won new offshore drilling contracts in the Middle East and West Africa worth over $400 million.
Xodus Group has completed a “major benchmarking emissions review” for a leading Middle East oil operator’s full asset portfolio.
Aberdeen-headquartered KCA Deutag has landed a contract worth $550 million (£408m) in Oman, securing nearly 200 jobs.
A recent swell in oil prices has driven the valuation of oil and gas giants Shell and BP to levels not seen since before the pandemic.
Aberdeen-headquartered consulting and engineering group Wood has signalled a year of “strategic growth” in the Middle East, accumulating $580million (£425m) of secured contract backlog in 2021.
ADNOC has announced an investment of nearly $1billion to extend the life of the Umm Shaif oil field which started up 60 years ago.
Halliburton denied a claim by Iraq’s oil minister that it’s in talks to buy the stake of ExxonMobil in the huge West Qurna-1 oil field in the south of the country, amid ongoing uncertainty about the future ownership of the asset.
Engineering firm Brimmond Group has announced four contract wins worth £1.75 million, marking a successful period of growth for the company as it celebrates its 25th anniversary.
PTT Exploration & Production (BKK:PTTEP) will expand its investment in the United Arab Emirates (UAE) by acquiring a 25% stake in Area C onshore block from Italy’s Eni. The state-backed Thai upstream player said the investment fits with its strategic focus on prolific petroleum areas in the Middle East.
KCA Deutag has bagged land drilling contracts worth about £137 million in the Middle East.
With 30 years of oil and gas experience, TRACS International (TRACS) has advised on development of oil and gas fields around the world – many of which are now candidates for safe disposal of CO2.
State-backed Thai player PTT Exploration & Production’s (PTTEP’s) new chief executive, Montri Rawanchaikul, intends to strengthen the firm’s core upstream business in Southeast Asia, while preparing for new energy opportunities.
As global markets consolidate recovery from the Covid-19 pandemic, LNG markets globally are tightening, with demand growth led by anticipated surge in Asian and Latin America demand.