Petrofac lands EPC contract with ADNOC in the UAE
The UK-based Petrofac (LON: PFC) has secured an engineering, procurement and construction (EPC) lump-sum contract with ADNOC in the United Arab Emirates (UAE).
United Arab Emirates (UAE)
Adnoc, TotalEnergies to deepen co-operation, with state backing
Adnoc and TotalEnergies have signed a deal to work together, while France and the United Arab Emirates have also made high-level commitments.
ADNOC looks to Aberdeen’s ‘tartan’ revolution for $5bn UAE opportunity
ADNOC has hailed a “tartan” energy revolution in Aberdeen while seeking supply chain partners for a $5bn opportunity in Abu Dhabi.
Trafigura warns high prices to continue on under-investment
Trafigura has warned of further challenges for the energy, and metal, markets, with higher prices for some time, although also reporting record profits.
Norwell Engineering secures major contract to deliver first integrated decom project
Aberdeen-headquartered Norwell Engineering has secured a multi-million dollar contract for work in the United Arab Emirates (UAE).
Security risks abound for MENA oil supply
The Middle East and North Africa region is at “growing risk” of oil supply disruption, a new analysis from Verisk Maplecroft has reported.
Boris Johnson heads to Saudi Arabia as he seeks to wean West off Putin’s oil
Boris Johnson has declared Saudi Arabia and the United Arab Emirates "key international partners" in efforts to reduce dependence on Russian energy after the invasion of Ukraine.
Oil’s wild week continues as prices recover after huge slump
Oil edged higher after the biggest drop since November as the fallout from Russia’s invasion of Ukraine continues to rattle markets.
Adnoc CEO visits workers in hospital following drone strike
The chief executive of Adnoc has visited a hospital where workers injured in a rumoured terrorist attack are being treated.
ADNOC unveils £2.7billion electrification project for huge offshore oil and gas fields
ADNOC has unveiled a £2.7billion development for electrification of giant offshore oil and gas fields off Abu Dhabi.
Fuel shortages drive “range anxiety” woes
UK drivers face “range anxiety” as a result of fuel shortages, while a cold winter could push Brent prices to $100 per barrel, BofA Securities has warned.
End of Petrofac investigation will unlock ‘lucrative’ Saudi and UAE markets
An investigation into allegations of bribery at Petrofac, which wrapped up yesterday, “will unlock the lucrative” Saudi Arabia and United Arab Emirates (UAE) markets.
Petrofac fined £77 million for failing to prevent bribery
Petrofac (LSE: PFC - 192.4p) has been ordered to pay £77 million over seven separate counts of failure to prevent bribery between 2011 and 2017.
Updated: Petrofac charged with seven separate offences of failing to prevent bribery, intends to plead guilty
Energy services giant Petrofac has been charged with seven separate offences of failing to prevent bribery between 2011 and 2017.
OPEC+ deal fails, leaving oil market tighter as prices surge
OPEC+ abandoned its meeting without a deal, tipping the cartel into crisis and leaving the oil market facing tight supplies and rising prices.
Africa Oil Week heads to Dubai, in Cape Town loss
Africa Oil Week will be held in Dubai this year, with the organisers highlighting the location as a safe alternative to Cape Town.
Petrofac ‘cut off from key markets’ after Adnoc suspension
Petrofac has been cut off from three of its “largest and most promising” oil markets globally after being suspended from Adnoc tenders, according to new analysis.
Petrofac suspended from competing for Adnoc contracts amid SFO investigation
Petrofac has been suspended from tendering for Adnoc contracts as a Serious Fraud Office (SFO) bribery investigation rolls on.
Saudi, Qatar rulers embrace at Gulf summit as borders reopen
Qatar’s ruler landed in Saudi Arabia on Tuesday to a warm embrace from host Crown Prince Mohammed bin Salman, hours after their nations re-established travel ties and eased a longstanding regional dispute.
Accord sets stage for Israel, UAE, Bahrain energy co-operation
Israel, the United Arab Emirates and Bahrain have signed a peace agreement that marks a step towards normalising diplomatic relationships in the Middle East.
NOC blames UAE for Libyan shutdown
Libya’s National Oil Corp. (NOC) has named the United Arab Emirates as being behind the order to stop production in the North African country.
Petrofac snaps up £30m deal with Sharjah National Oil in UAE
Oilfield services firm Petrofac has today announced the award of a £30 million deal by Sharjah National Oil Corporation (SNOC) for a project in the United Arab Emirates (UAE).
Petrofac wins contracts worth £1.3billion for Abu Dhabi ‘mega project’
Petrofac has been awarded two contracts worth a combined £1.3billion for a “mega project” near Abu Dhabi.
Petrofac wins work at UAE’s Haliba field
Energy services firm Petrofac has won work at the Haliba field in the United Arab Emirates (UAE).