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online portal for selling and buying surplus oil and gas equipment

July 9, 2019 No Comments

The oil and gas industry is global, extensive and a mass consumer of equipment and materials. SurplusHub.com offers a more convenient way of trading surplus, saving time, money and reducing environmental impacts. The oil and gas industry is fast moving, procurement-intensive and resource demanding. Oil field operators, service industry majors and third party suppliers are under constant pressure […]

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McDermott Announces Agreement with Cameron LNG

McDermott Announces Agreement with Cameron LNG

July 8, 2019 No Comments

McDermott International, Inc. (NYSE: MDR) announced it and its joint venture member Chiyoda have reached an agreement with Cameron LNG related to the construction of its LNG liquefaction project in Louisiana. The agreement includes the following key components: Provides the opportunity for incentive bonus payments for achieving construction and commissioning milestones on specified dates for […]

Neste to sell its fuel retail business to PJSC Tatneft in Russia

Neste to sell its fuel retail business to PJSC Tatneft in Russia

July 5, 2019 No Comments

Neste Corporation has signed an agreement to sell its fuel retail business consisting of 75 fuel stations and a terminal in St. Petersburg region to PJSC Tatneft, one of the leading integrated oil and gas companies in Russia. The divestment has no impact on Neste’s Marketing & Services’ operations in Finland and the Baltic countries. […]

PDO and Ejaad Collaborate on 4IR Research on jobs

PDO and Ejaad Collaborate on 4IR Research on jobs

June 28, 2019 No Comments

Petroleum Development Oman (PDO) signed an agreement with The Research Council to conduct research on the overall impact of the Fourth Industrial Revolution (4IR) on jobs in the oil and gas sector through Ejaad, the platform to boost R&D collaboration between industry and academia in Oman. The study will explore the effect of 4IR on […]

Baker Hughes and C3.ai Announce JV to Deliver AI Solutions Across the Oil and Gas Industry

Baker Hughes and C3.ai Announce JV to Deliver AI Solutions Across the Oil and Gas Industry

June 26, 2019 No Comments

Baker Hughes, a GE company (NYSE:BHGE) and C3.ai announced a joint venture agreement that brings together BHGE’s fullstream oil and gas expertise with C3.ai’s unique AI software suite to deliver digital transformation technologies that will drive new levels of productivity for the oil and gas industry. AI in the oil and gas segment helps improve […]

Roxtec UK launches ‘BIM objects’ to support oil and gas construction industry

Roxtec UK launches ‘BIM objects’ to support oil and gas construction industry

June 24, 2019 No Comments

Roxtec UK has developed new BIM (Building Information Management) drawings of its products in a bid to support oil and gas infrastructure projects. The global pipe and cable seal specialist has developed ‘Roxtec BIM Objects’ which can be incorporated in CAD (Computer Aided Design) programmes. Roxtec UK managing director Clive Sharp said the BIM objects […]

The appilication of stainless steel in oil and gas industry

June 19, 2019 No Comments

The petroleum and petrochemical industry is the pillar industry of the national economy, and it plays a pivotal role in the national economy. In the past 20 years, stainless steel pipes have been greatly improved in terms of production technology, whether they are seamless pipes or welded pipes. The stainless steel pipes produced by some […]

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BHGE launches its Multimodal Facility Expansion in Angola

BHGE launches its Multimodal Facility Expansion in Angola

June 7, 2019 No Comments

Baker Hughes, a GE company (NYSE: BHGE) (www.BHGE.com) announced today the inauguration of its multimodal facility (MMF) for oil and gas in Luanda, Angola. The facility, with its additional capabilities across multiple product lines, will deliver a suite of products and services across the oil and gas value chain. It will serve as a hub to […]

TAQA records AED 4.3 billion of revenue in Q1 2019

TAQA records AED 4.3 billion of revenue in Q1 2019

May 9, 2019 No Comments

Abu Dhabi National Energy Company PJSC (TAQA) announced its financial results and operational highlights for the three-month period ending March 31, 2019. TAQA recorded AED 4.3 billion of revenue in the quarter. The company reported AED 2.4 billion in EBITDA, an increase of 1% compared to the first three months of the previous year. This […]

Oil Production Booms… But Funding Is Drying Up

Oil Production Booms… But Funding Is Drying Up

May 9, 2019 No Comments

North America’s energy-focused private equity firms just saw a five-year low in fund closings and the lowest amount of total capital raised for energy investment since early 2016. During the 2014-2016 period of low oil prices, many energy-focused funds raised billions of U.S. dollars, aiming to invest the money in energy assets at bargain prices. […]

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