Friday 3 April 2020

Saudi Arabia calls for urgent OPEC+ meeting

Saudi Arabia has called for an urgent meeting for OPEC+ group and other countries, with the aim of reaching a fair agreement to restore the desired balance in oil markets.   This invitation comes within the framework of the kingdom's constant efforts to supp


Abengoa consortium wins Saudi desalination project contract

Spanish group Abengoa said its consortium with the engineering and construction company Sepco III, has been awarded a contract to build the second largest reverse osmosis (RO) desalination plant in Saudi Arabia.   The contract for the 600,000-cu-m per day desali


Covid-19 to hit oil, gas projects in emerging economies, says report

  One of the immediate effects of the coronavirus (Covid-19) pandemic on the oil and gas industry has been a global glut of crude oil supply amid already weak demand, resulting in a significant drop in oil prices, saisd a report.   


Sharaf DG Energy installs solar panels at 500 Dubai villas

Sharaf DG Energy, a unit of leading UAE business conglomerate Sharaf Group and a major solar energy solution provider, said it has uccessfully completed the installation of solar PV panels in 500 villas across Dubai within 45 days.   With the curr


Saudi oil, petchem firms donate $139m to Covid efforts

Major companies operating in Saudi Arabia's oil and gas, renewable energy, electricity and petrochemicals have contributed SR525 million ($139.46 million) to the Health Endowment Fund to combat the novel Coronavirus pandemic.   Saudi Arabia's Minister of


TechnipFMC plans 30pc cut in 2020 capex as oil market bites

TechnipFMC, a global leader in subsea, onshore/offshore, and surface projects with a major presence in the Middle East region, has announced plans to cut its planned capital expenditure for 2020 by 30 per cent to $300 million in response to current market conditions.  


DNO reports payment for Tawke licence deliveries

DNO ASA, the Norwegian oil and gas operator, has reported receipt of $77.235 million as payment for October 2019 crude oil deliveries to the export market from the Tawke licence in the Kurdistan region of Iraq. The funds will be shared by DNO and partner Genel Energy plc pro-rata to the compa


Saudi RSGT unveils $1.7bn port expansion, renovation plans

Saudi-based Red Sea Gate Terminal (RSGT) has announced plans to invest heavily on the expansion of Jeddah Islamic Port, mainly to help boost its operational capabilities and also for future renovation work.   Today marks the official commencement of RSGT’s


Siemens Gamesa wins first order in Brazil

Siemens Gamesa’s first order in Brazil for its next generation platform, the Siemens Gamesa 5.X, demonstrates the global reach and versatility of the technology.    Following recent deals to supply both the 155 and the 170-meter rotor variants of the


Aramco 'may account for 20pc of $50bn hydrocarbon capex cut'

State oil giant Saudi Aramco accounts for 20 per cent of the over $50 billion announced cuts in capital expenditure globally as oil and gas companies grapple with the coronavirus (Covid-19) pandemic and oil price war, according to a report.   This comes in line

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