Saturday 27 May 2017

Adnoc, OMV ink downstream projects cooperation deal

OMV, an international oil and gas company based in Vienna, Austria, said it has reached an agreement with Abu Dhabi National Oil Company (Adnoc) to explore opportunities for co-operation, among others in downstream projects.    The agreement explores potent


Aramco plans $18bn spend on US refining operations

Oil giant Saudi Aramco is set to spend $18 billion over the next five years to expand its operations in the Americas, focusing on its wholly-owned oil refining unit in the US - Motiva Enterprises.    The Aramco move comes following announcements at the Saud


Oil producers extend output cut by 9 months

Opec and non-Opec oil producers agreed to extend output cuts for an additional nine months at an Opec meeting in Vienna, Austria yesterday (May 25), a report said. The production cuts of 1.8 million barrels a day, first agreed on in November last year, will now extend to March 20


Wood Group signs long-term global agreement with Hess

Hess Corporation has signed a non-exclusive 10-year global agreement with Wood Group to provide engineering, project management, construction, commissioning, operations and maintenance, integrity management, subsea, and decommissioning services.   The two companies have worke


Equatorial Guinea signs oil terminal deal with Arabian Energy

Work on the Bioko Oil Terminal in Equatorial Guinea is expected to gain momentum following the signing of an agreement between the Government of Equatorial Guinea and UAE-based Arabian Energy DMCC recently. The two sides agreed to collaborate on the development, implementation, c


PDO signs $35m deals with Omani firms

Petroleum Development Oman (PDO) has signed three contracts worth $35 million with Omani firms for the supply and servicing of compressors. PDO has agreed two contracts with Bin Salim Enterprises for the supply of instrument air compressor packages and the maintenance and repair


Saudi Electricity inks $1.46bn projects deal

Saudi Electricity Company (SEC) has finalised implementation and operation of a number of electric transmission and interconnection projects in the northern regions of the kingdom at a total cost of SR5.5 billion ($1.46 billion). They included six plants for transmitting electric


Abu Dhabi launches $870m solar power plant

Abu Dhabi has launched a Dh3.2 billion ($870 million) project to build the world's largest independent solar power plant, which will position the emirate as the global capital for best economic, environmental and technological practices. A ceremony was held on Wednesday to la


Bahri hosts crew conference in Manila

Bahri Ship Management, a business unit within Bahri, recently organised its 11th annual crew conference to provide its crewmembers with an opportunity to learn more about the latest industry developments from experts and share knowledge and experiences. National Shipping Company


Topaz revenue down 25pc in Q1

Dubai-based Topaz Energy and Marine, a leading international offshore support vessel company, has posted a revenue of $58.2 million for the three months ended March 31, 2017, down 25 per cent compared to $77.7 million for the same period last year. The company also reported EBITD

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