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.
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, 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.
Patrick Pouyanne, the pugnacious boss of Total SA, sees risks differently.
Oil service company McDermott said an uplift in activity in the Middle East was behind its “exceptional” results in 2017.
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.
A pair of north-east firms will team up to make an impact on the diamond wire cutting market in the Middle East.
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.
Energy is overtaking banking and finance as a target for cyber-criminals in the Middle East, security experts have said.
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 today confirmed it had won a $30million deal with PetroChina for the Halfaya Contract Area (Halfaya) in southern Iraq.
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.
Norwegian oil and gas operator DNO has agreed to take over the operatorship of a licence in Kurdistan from ExxonMobil.
Energy services and software provider AGR put pen to paper on eight contracts over their UK and Middle East businesses this year.
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.
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.