Oilfield services provider Baker Hughes said it did not expect a substantial recovery in drilling and pricing in North America this year, in contrast with comments from bigger rivals Schlumberger and Halliburton Co.
Bahrain-based GFH Financial Group (GFH) has announced that it has concluded a final settlement with one of its ex-chairmen in a legal case and has recovered approximately $4 million in cash, shares and real estate from him.
Engineered air solutions provider Safid is undeterred by a drop in output and sales and believes new plants it is building will be in time for a recovery in markets it expects to happen before long.
“We’re optimistic a
Churchill Drilling Tools, a specialist engineering company delivering market-leading drilling solutions to the global oil and gas industry, has launched its HyPR HoleSaver in the Middle East.
The United Arab Emirates' oil minister said on Monday that he expected an upward correction of oil prices next year due to recovery in demand.
"We are expecting an upward correction - 2016 will be a year of correction, to
Lower prices should help stimulate oil consumption in advanced economies, restoring some of the demand lost over the last decade, as the cost of crude soared from less than $50 to more than $100 per barrel.
As oil prices entered a second steep slide a few weeks ago, bullish traders and analysts had hoped for a repeat of the sharp but short dip that occurred early in the year - a speculative slide below $50 a barrel followed by a quick recovery.
Oman Air’s IT Disaster Recovery infrastructure will move from its current location to a state-of-the-art data park in Muscat.
The move will follow the signing of an agreement between Oman Air and Oman Data
Egypt no longer expects its tourism industry, battered by three years of political upheaval, violence and street protests, to fully recover by the end of the year, the tourism minister said.
"I don't think (the tourism ma