Monday 25 June 2018

Opec, non-Opec pledge supply boost

Opec and non-Opec members said they would raise supply by returning to 100 per cent compliance with previously agreed output cuts, after months of underproduction, a media report said. This came in a statement issued at the end of the 4th Opec and non-Opec Ministerial Meeting, wh


Vinci wins big smart lighting project in Australia

Vinci Energies, a subsidiary of global concessions and contracting major Vinci, has been awarded a seven-year streetlight network management contract worth €37 million ($43 million) for the Canberra region in Australia.    This is the first contract in


Opec to boost oil output after Saudis clinch deal with Iran

Organization of Petroleum Exporting Countries (Opec) and allies including Russia will boost oil production starting next month, offering relief to consumers after Saudi Arabia secured a last-minute deal to overcome Iran’s opposition, said a report.   While


Vinci lands $677m Canada gas pipeline project

Leading engineering and construction major Vinci said a joint venture between one of its subsidiaries Spiecapag Canada Corp and Macro Pipelines has been awarded a C$900 million (about $677 million) contract to build two sections of gas pipeline in the province of Vancouver. The deal, a


Mena ‘needs $320bn spend in oil and gas sector’

The Mena region needs at least $320 billion in investment in the oil and gas sector over the next five years, said an industry expert, adding that the private sector can be an important partner in this effort. New investment models will encourage optimal development in the oil an


Fluor readies first modules for Kuwait refinery project

Fluor Corporation, a global engineering, procurement, fabrication and construction company, has announced the arrival of the first modules for the Kuwait Integrated Petroleum Industries Company (Kipic) Al Zour project in Kuwait. The US-based company is working with its joint vent


Dana Gas wins approval for $700m sukuk restructuring

UAE-based Dana Gas, the largest regional natural gas company in the Middle East, said it has won approval from its key investors to complete the consensual restructuring of its $700 million sukuk (Islamic bond) at today’s (June 21) General Assembly Meeting. All shareholders


UK’s TWMA acquires US service company

UK-based TWMA, a provider of specialised drilling waste management services, has announced its acquisition of US-based Dynamic Oilfield Services in an eight-figure deal.   The move comes as TWMA continues to implement an ambitious growth strategy, with internationalisation an


Huawei unveils solution to help oil sector build energy IoT

Huawei showcased its 4.5G-based, 5G-oriented eLTE-DSA Solution which leverages wireless narrowband Discrete Spectrum Aggregation (DSA) technology to help the oil and gas industry build an energy Internet of Things (IoT) at the 15th Moscow International Oil and Gas Exhibition (MIOGE).


DNO gets $62m Kurdish crude oil payments

DNO ASA, the Norwegian oil and gas operator, has reported receipt of $62.19 million as payment for March 2018 crude oil deliveries to the export market from the Tawke license in the Kurdistan region of Iraq. The funds will be shared by DNO and partner Genel Energy plc pro-rata to

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