Thursday 23 October 2014
 
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oil services

Gulf group in talks to buy Dubai's NPS Energy

A group of Gulf investors led by Fajr Capital are in talks to buy Dubai-based oil services firm NPS Energy for up to $700 million, three sources aware of the matter said. NPS Energy put itself up for sale again after a deal to be

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Schlumberger's income up 9pc

Steady growth in drilling activity outside North America gave a big lift to Schlumberger, the world's largest oil services company, but the US natural gas slump weighed even more than expected on rival Baker Hughes. Baker, the

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Mideast contracts getting delayed: Petrofac

  British oil services firm Petrofac warned that customers were delaying the award of contracts in its core Middle East market from this year to next, raising analysts' concerns about its profit outlook.  

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Iraq approves $843m Weatherford oil deal

Iraq's cabinet has approved an $843 million service contract with US oilfield services company Weatherford to build crude production units in the Zubair oilfield. Italy’s Eni, US-based Occidental Petroleum Corporation and South Korea’s

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Norwegian group buys ME oil services firm

Norwegian oil services firm Aker Solutions has agreed to buy a Dubai-based oil services firm, hoping to improve its recent weak track record of winning contracts in the world's top oil producing region. Aker Solutions has agreed to buy

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Omani firm looks at buys in Toronto, London

MB Holding, an Omani mining and energy group, plans to take advantage of depressed valuations to buy a stake in listed firms on the Toronto and London exchanges, its chairman said on Monday. Mohamed Al Barwani said the Omani firm, whose op

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Renaissance uncovers fraud at Topaz unit

Oman's Renaissance Services  said it uncovered 'serious' issues at its Topaz unit, including financial misconduct and fraud, as the diversified firm posted a 77 percent plunge in its first-half net profit. Topaz, which pul

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Egypt firm to build two vessels in China

Egypt's Maridive and Oil Services said on Monday it won contracts to build two vessels in a Chinese shipyard and had cancelled two jobs in India. The oil services firm, the biggest in the Middle East by fleet size, said in a statement

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Unicorn buys US oil services firm

Unicorn Investment Bank has acquired Sun Well Service, a leading workover services provider to oil and gas exploration companies in the US. The company is primarily involved in the repair and modification of oil wells located throughout th

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Abraaj Captial buys GMMOS Group

The UAE-based Abraaj Capital has acquired 100 per cent of GMMOS Group, a major regional oil and gas services and industrial group operating in the Gulf and Caspian markets. GMMOS Group comprises four well-established business divisions, i

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