Monday 23 October 2017

US crude oil production set to increase in H2

United States Energy Information Administration (EIA) forecasts that US crude oil production will average 9.4 million barrels per day (bpd) in the second half of 2017, 340,000 bpd more than in the first half of 2017.   Production in 2018 is expected to average 9


Imdaad to showcase green energy solutions at Wetex

Imdaad, a Dubai-based FM solutions provider, will showcase its line-up of sustainable energy solutions, including power monitoring and savings services Water, Energy, Technology, and Environment Exhibition (Wetex) in Dubai, UAE. Taking place under the theme ‘At the forefron


Rowan-Aramco JV kicks off drilling ops

US-based Rowan Companies, a global provider of contract drilling services, has announced that ARO Drilling, a 50/50 joint venture with the Saudi Arabian Oil Company (Saudi Aramco), has commenced operations. Tom Burke, president and chief executive officer, said: "We are extr


Saudi Aramco unveils new water conservation strategy

State-run oil giant Saudi Aramco is showcasing its water preservation and conservation solutions and initiatives at the ongoing Water Arabia Conference and Exhibition in Al Khobar, Saudi Arabia. As the diamond sponsor, it will be playing a key role at the expo being held under th


UL to set up smart grid testing facility in Saudi Arabia

Global safety science company UL said it has joined hands with Saudi-based GCC Electrical Testing Laboratory (GCC Labs) to develop a state-of-the-art  renewables and smart grid testing facility at its custom-built facility in Dammam, Saudi Arabia. It will be a first-of-its-k


Petrofac wins Iraq project management contract

Petrofac, a leading international service provider to the oil and gas processing and production industry, has been awarded a $30-million contract to undertake project management consultancy (PMC) services for the Halfaya Contract Area in southern Iraq. The contract award was anno


Emerson agrees to acquire Paradigm for $510m

Emerson has agreed to acquire Paradigm, a leading provider of software solutions for the oil and gas industry, for a purchase price of $510 million, reflecting a multiple of 13 times expected 2017 EBITDA.    Paradigm, joined with Emerson’s existing Ro


Oil gains as US stockpiles decline, Opec cuts weigh

Oil extended gains on Thursday as signs of declining US stockpiles and ongoing supply cuts led by Opec pointed to healthy demand while investors weighed potential disruptions to supply because of global geopolitical tensions. Futures in New York rose as much as 0.6 per cent on We


Saudi Aramco IPO set for 2018, says oil minister

Saudi Arabia is still aiming to complete both international and domestic portions of the initial public offering of Aramco, in 2018, reported state news agency Wam, citing the Saudi Oil Minister Khalid Al Falih. He was speaking on Tuesday in London on the sidelines of th


World's first floating wind farm inaugurated

Hywind Scotland, the world’s first commercial-scale floating wind farm, was inaugurated today in Scotland, the Abu Dhabi Future Energy Company (Masdar) has announced.   The renewable energy project paves the way for the development of wind energy resources

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