South Korea's Doosan Enerbility has announced that it had signed a contract worth KRW837 billion ($556 million) for the second phase of the Jafurah Combined Heat and Power Plant in Saudi Arabia in partnership with Korea Electric Power Corp (Kepco) and Saudi oil giant Aramco.
Brent oil looks set to move above $100 and potentially stay there for a while, said an industry expert citing reports that Iran has halted negotiations with the US and threatened to close the Strait of Hormuz. That scenario would change the game for investors.
Saudi Basic Industries Corp (Sabic) has launched an ambitious public auction of industrial assets from its facilities in La Aljorra, Spain, specifically from the LX2 polycarbonate plant and the HPP plant following their permanent closure. The auction comprises 141 lots divided into two specialised events.
Strohm has won its first contract in Egypt to supply a 2,000-metre thermoplastic composite pipe (TCP) flowline for a West Delta Deep Marine (WDDM) project operated by Burullus Gas Company, a joint venture between EGAS, Shell, and Petronas.
ATPI Energy has secured contracts valued at more than $50 million over the past four months, strengthening its role as a travel management partner within the global energy sector.
Emerson has announced a collaboration with Aramco to co-develop next-generation corrosion management solutions for use across the company’s operations. The initiative aims to support more consistent and data-driven approaches to corrosion monitoring.
OEG has secured a multi-million-pound contract from Ørsted to provide statutory inspection services across its UK offshore wind portfolio. The agreement, awarded through a competitive tender, runs for five years with two optional two-year extensions.
Petrofac announces the completion of the sale of Petrofac Emirates to a consortium of financial investors led by Mason Capital Management (Mason) and Pearlstone Alternative (UK).
Hammertech, a subsidiary of Nordic Technology Group (NTG), has received a new purchase order worth approximately NOK 5.5 million (595,630 ) from an established customer in the automated drilling sector in the Americas.
Oil prices climbed more than 2% on Monday as investors reassessed expectations for a breakthrough in US-Iran negotiations, with renewed regional tensions highlighting the fragility of efforts to secure a broader peace agreement and restore stability to Middle East energy supplies.
