Tuesday 7 July 2015

Exova wins deal to provide testing services to Maersk Oil

Exova, the leading testing, calibration and advisory services provider, has won a deal to provide materials qualification testing for global prime Maersk Oil. The contract is an extension of the testing Exova has previously undertaken on down-hole tubulars for Maersk Oil’s


Sadara signs $3.7bn Saudi power supply deal

Saudi Arabia's Sadara Basic Services said on Tuesday that its parent firm signed a SR14.13 billion ($3.77 billion) deal with Saudi Electricity Company to supply electric power to its chemicals complex in Jubail Industrial City. The agreement signed by Sadara Chemical Company,


Baker Hughes wins Norway drilling contract

Norway's oil and gas firm Statoil said on Monday it has awarded Baker Hughes a 1.5 billion Norwegian crown ($187.20 million) contract for integrated drilling services at Johan Sverdrup field. The contract is valid for six years with a four-year extension option for the entire


Oil prices stabilise after massive selloff

Crude oil prices steadied on Tuesday, after posting one of their biggest selloffs this year the previous session over Greece's rejection of debt bailout terms and China's stock market woes. Front-month US crude futures were trading at $52.97 per barrel at 0332 GMT, up 44


Ceyhan tanker cancellations climb as Kurdish oil sales grow

Oil firms BP and Eni have cancelled more tanker loadings from the Turkish port of Ceyhan due to a lack of oil in tanks owned by Iraqi state oil firm Somo after Iraq's semi-autonomous region of Kurdistan ramped up independent oil sales.    


Aramco lowers August Arab Light crude OSP to Asia

Saudi Arabia has cut the official selling price (OSP) for its benchmark Arab Light crude to Asia in August, as expected, while raising the price to European customers.   State oil company Aramco has lowered the August price for its Arab Light grade for Asian cus


Iran's oil ministry to submit new international contract draft 'soon'

Iran's oil minister Bijan Zanganeh will soon present a long-awaited template for new international oil contracts to the government, as foreign companies watch for a nuclear deal that could allow them into a major untapped market.   Iran is in the


CFO role ‘critical to survival in oil sector’

With oil prices slowly recovering from the dramatic fall last summer, chief financial officers (CFOs) working in the sector can galvanise the finance function in the fight to future-proof their business, a report said. ACCA (the Association of Chartered Certified Accountants) has


Asry signs maintenance deal with British firm Babcock

Bahrain-based Arab Shipbuilding and Repair Yard (Asry) has signed a long-term collaborative enabling agreement with Babcock, an engineering support services company from the UK, to undertake maintenance work on UK Royal Navy warships in the Gulf. The agreement will cover work fro


Dana Gas wins key ruling in Kurdistan row

Dana Gas, one of the largest oil and gas investors in Iraq's semi-autonomous Kurdish region, said on Sunday that it had obtained a favourable ruling from a London arbitration tribunal in its dispute with Kurdistan authorities. The Abu Dhabi-listed firm, which leads a consorti

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