Saturday 29 August 2015

Schlumberger to buy Cameron in $14.8bn deal

Schlumberger, the world's No.1 oilfield services company, said it will acquire oilfield equipment maker Cameron International Corp in a deal valued at $14.8 billion. Cameron shareholders will get $66.36 – $14.44 in cash and 0.716 of a Schlumberger share – for each


Orpic’s Sohar project completes safety milestone

State-owned Oman Oil Refineries and Petroleum Industries Company (Orpic) announced that it has achieved 15 million man-hours without lost time injury on its Sohar Refinery Improvement Project, a report said. Orpic has more than 6,500 people on site, working to a 2016 completion d


Aramco extends bidding for Hasbah expansion

State oil giant Saudi Aramco has extended by almost a month bidding for the expansion of the offshore Hasbah sour gas field which will feed the planned Fadhili gas plant, industry sources said. Gas is a top priority for Saudi Arabia as it tries to burn less crude oil for power ge


Orpic calls bids for flare gas recovery project

State-owned Oman Oil Refineries & Petroleum Industries Company (Orpic) has invited bids for a multi-million dollar contract for the installation of a flare gas recovery project at the company’s Sohar refinery, a report said. Orpic plans to invest in a state-of-the-art s


Petrofac posts net loss hurt by Shetland Islands project costs

Petrofac Ltd reported a net loss for the first half, hurt by a steep increase in costs at its Shetland Islands project, and said it still expected net profit for the year to be weighted towards the second half.   Shares in the oilfield services company rose 2.4


Iraq oil minister says $9bn in arrears paid to oil firms

Iraq has paid foreign oil companies $9 billion in remaining arrears for 2014 and was paying outstanding fees for 2015 in stages until the beginning of next year, its oil minister said.   Adel Abdel Mehdi wrote in the Al-Adala newspaper that the ministry would st


Iran says will reclaim full oil market share post-sanctions

Iran will ramp up crude oil production and reclaim its lost share of exports shortly after international sanctions on the Opec member are lifted, Iran's oil minister Bijan Zanganeh said.   Iran and six world powers agreed a deal in July to curb Tehran's


TVEL Fuel to supply nuclear fuel to Bushehr plant

Russia’s atomic energy corporation Rosatom's subsidiary TVEL Fuel Company said it is ready to deliver fresh nuclear fuel to the Bushehr Nuclear Power Plant in Iran. TVEL Fuel Company is part of the fuel division of Rosatom and combines enterprises for nuclear fuel fabri


Equate wins SAP’s international award in IT

Equate Petrochemical Company, Kuwait’s first international joint venture in this industry, recently received an IT award from German enterprise software leader SAP in the “IT Business Transformation Category.” Equate received the award for developing innovative


Qatar raises its game to fend off next LNG giants

Gas giant Qatar is becoming commercially sharper, using traders and tenders to grab new customers, and fighting to hold on to its share in the prized Asian market. Qatar is the world's top supplier of liquefied natural gas (LNG), but in the coming five years it could be surpa

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