Friday 22 August 2014
 
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oil industry

M2M device numbers in oil industry peak in 2013

The number of devices with cellular or satellite connectivity deployed in oil & gas applications worldwide reached 423,000 at the end of 2013, a report said. Growing at a compound annual growth rate (CAGR) of 21.4 per cent, th

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Rosneft bids for BP stake in Russia firm

  State oil firm Rosneft tightened its grip on the Russian oil industry on Thursday, lodging a cash and shares bid for British oil company BP's 50 percent stake in the country's third-largest oil producer, TNK-BP.

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Asset integrity 'key to oil industry expansion'

The oil sector is currently booming with billions of dollars being invested in new fields across the Middle East. But these developments could result in disasters if the industry does not concentrate on investing in asset integrity, said experts

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Middle East oil industry 'on major reform path'

The downstream petroleum industry is witnessing a diversification phase, transforming the Middle East from an exporter of crude to an exporter of finished products, said a senior government official. Bahrain, where oil was first d

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Dutch firm opens regional HQ in Dubai

The Netherlands-based Doedijns Group, a leading player in the field of hydraulics, instrumentation, pneumatics and controls, has opened its headquarters for Middle East and Africa (MEA) region in Dubai. The new full service

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Saudi maritime investment to hit $50bn

Saudi Arabian maritime transport investments are expected to reach $50 billion, Asharq Al-Awsat newspaper quoted a senior executive as saying.     'It is possible to estimate that investment in this field will be n

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Halul Offshore adds new vessel to fleet

Halul Offshore Services Company (HOSC), a wholly owned subsidiary of Qatar Navigation, has taken delivery of its newest vessel, Halul 60. The company took delivery of this vessel last week. The vessel is an Anchor Handling Supply Vessel wi

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Key forum to address downstream issues

The challenges and opportunities facing the Middle East's downstream oil industry will be discussed during a key forum in Abu Dhabi in May. The Middle East Downstream Week, from May 8-11, will  bring together leading policy makers, mi

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Bigger oil industry role for Arabian Gulf

With the fallout from the oil spill in the Gulf of Mexico in US, the Arabian Gulf region's central role is set to grow, said an industry expert. 'The recent events in the Gulf of Mexico have given all participants in the energy ind

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Kuwait energy sector in peril

Kuwait's oil industry is in peril due to political bickering and interference that have stalled mega projects. Three major projects costing some $40 billion have been put on hold because of stiff opposition from parliament, while the e

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