Tag Archive

King Salman Energy Park (SPARK) signs agreement to establish Oilfields Supply Center

King Salman Energy Park (SPARK) signs agreement to establish Oilfields Supply Center

July 11, 2019 No Comments

King Salman Energy Park (SPARK) and Dubai-based Oilfields Supply Center Ltd. (OSC) today signed an agreement to establish OSC as an anchor tenant at SPARK, an energy city megaproject which will cement Saudi Arabia’s position as a global energy, industrial and technology hub. In collaboration with Saudi Aramco, OSC will develop a business incubator, called […]

Saudi Aramco and Baker Hughes sign MOU

Saudi Aramco and Baker Hughes sign MOU

July 3, 2019 No Comments

Saudi Aramco and Baker Hughes, a GE company (BHGE) signed a memorandum of understanding to create a new joint venture facility in Saudi Arabia to manufacture non-metallic materials which will be used in a variety of areas of the energy industry. This agreement supports Saudi Aramco’s strategy to play a leading role in accelerating the […]

Tenaris rebrands Saudi Steel Pipe

Tenaris rebrands Saudi Steel Pipe

June 28, 2019 No Comments

Tenaris, a leading supplier of tubes and related services for the world’s energy industry and other industrial applications, has announced that it will rebrand Saudi Steel Pipes (SSP), a welded pipe producer in the Kingdom of Saudi Arabia (KSA), to TenarisSaudiSteelPipes. The decision follows the integration of SSP into the global commercial and industrial network […]

Aramco signs 12 agreements with South Korean partners worth billions of dollars

Aramco signs 12 agreements with South Korean partners worth billions of dollars

June 26, 2019 No Comments

Saudi Aramco and its affiliates signed 12 agreements with major South Korean companies to reinforce relationships with South Korea, expand international operations, and support the region’s energy security with the expansion of Arabian crude oil supply to Asian markets. Commenting on the agreements, Saudi Aramco President and CEO, Amin H. Nasser, said: “Only a few […]

ExxonMobil, SABIC to build petrochemical facility in Texas

ExxonMobil, SABIC to build petrochemical facility in Texas

June 13, 2019 No Comments

ExxonMobil and SABIC today announced the decision to proceed with the construction of a chemical facility and a 1.8 million metric ton ethane steam cracker in San Patricio County, Texas, leading to thousands of high-paying jobs and billions in economic output “Building the world’s largest steam cracker, with state-of-the-art technology, on the doorstep of rapidly […]

OPEC’s Struggle To Avoid $40 Oil

OPEC’s Struggle To Avoid $40 Oil

June 12, 2019 No Comments

A few weeks ago, OPEC+ was mulling the possibility of exiting the production cut agreement because the oil market was at risk of over-tightening. Now Saudi Arabia is scrambling to extend the cuts and may even unilaterally lower its own production further in an effort to head off a price slide. On Monday, officials from […]

Oil Market remaining calm – IEA Reports

Oil Market remaining calm – IEA Reports

May 17, 2019 No Comments

The ongoing geopolitical supply concerns around Libya, Iran, and Venezuela have been joined in the past few days by the attacks on shipping off Fujairah and on two pumping stations in Saudi Arabia. At the time of writing, there is no disruption to oil supplies and prices are little changed. The IEA is monitoring the […]

Reaction to Four sabotaged commercial ships near UAE territorial waters

Reaction to Four sabotaged commercial ships near UAE territorial waters

May 13, 2019 No Comments

The Secretary-General of the Arab League, Ahmed Aboul Gheit has condemned in the strongest terms the acts of sabotage that targeted four commercial vessels near the territorial waters of the United Arab Emirates including two Saudi oil tankers in the Arabian Gulf, stressing that these criminal acts constitute a serious violation of the freedom and […]

Saudi Arabia, UAE “Draw The Death And Collapse Of OPEC”

Saudi Arabia, UAE “Draw The Death And Collapse Of OPEC”

May 2, 2019 No Comments

In among the multitude of threats that Iran has made public since the US sanctions on Iran were levied, Iran has now heralded the collapse of OPEC, if OPEC members fill the void by snagging market share left unfilled by Iran and Venezuela, according to S&P Global Platts. Iran’s oil minister said that two OPEC members […]

Wood awarded engineering contract by SABIC in Saudi Arabia

Wood awarded engineering contract by SABIC in Saudi Arabia

April 30, 2019 No Comments

Wood has secured a new contract with SABIC to deliver the engineering design for a world-class petrochemical research centre in the Kingdom of Saudi Arabia. Wood will provide conceptual, basic and detailed design engineering for SABIC’s new 65,000m² technology centre in Jubail Industrial City on Saudi Arabia’s east coast. The scope of work includes engineering […]

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