Tag Archive

Saipem awarded US$220m Onshore Drilling contracts

Saipem awarded US$220m Onshore Drilling contracts

March 14, 2019 No Comments

Saipem has been new awarded new contracts, and extensions to other already existing contracts, in Onshore Drilling worth approximately 220 million USD in total. The new contracts involve projects to be carried out in Bolivia and Saudi Arabia, while the extensions of contracts already underway concern Saudi Arabia, Peru, Morocco and Romania. Francesco Racheli, Chief […]

McDermott Awarded EPCI Contract from Saudi Aramco

McDermott Awarded EPCI Contract from Saudi Aramco

February 26, 2019 No Comments

McDermott International, Inc. (NYSE: MDR) announced a large* contract award from Saudi Aramco for engineering, procurement, construction and installation (EPCI) services in the Marjan field, offshore Saudi Arabia. The contract includes the full suite of EPCI services for the upgrade of two existing platforms related to the installation of associated equipment for electrical submersible pumps […]

Saudi Aramco and Total invest in  retail fuel network in Saudi Arabia

Saudi Aramco and Total invest in retail fuel network in Saudi Arabia

February 14, 2019 No Comments

Saudi Aramco and Total today signed an agreement to develop a network of retail fuel service stations in Saudi Arabia. The 50:50 joint venture (JV) plans to invest around $1 billion over the next 6 years in the Saudi retail fuel market to provide motorists with premium fuels and retail services in Saudi Arabia. “This […]

KBR Awarded Contract In Saudi Arabia

KBR Awarded Contract In Saudi Arabia

February 14, 2019 No Comments

KBR, Inc. (NYSE: KBR) announced it had been awarded a contract by SATORP (a joint venture between Saudi Aramco and Total) to debottleneck Train 2 of its existing 440,000 barrels per day refinery in Jubail, Kingdom of Saudi Arabia (KSA). The debottlenecking project is expected to increase the original refinery’s throughput by 15% once completed […]

Saudi Aramco and Total to build a new Polyisobutylene facility

Saudi Aramco and Total to build a new Polyisobutylene facility

February 1, 2019 No Comments

Saudi Aramco with its partner Total announced the signing of a Memorandum of Understanding (MoU) with Daelim, a South Korean petrochemical company. Under the MoU, Daelim is planning to build a new 80,000 tons state-of-the-art Polyisobutylene (PIB) plant, which is expected to come on-stream in 2024. This agreement is another step to drive Saudi Aramco’s […]

Saudi Aramco and Dubai Electricity & Water Authority sign MoU

Saudi Aramco and Dubai Electricity & Water Authority sign MoU

January 21, 2019 No Comments

Saudi Aramco today signed a Memorandum of Understanding (MoU) with Dubai Electricity & Water Authority (DEWA) to foster collaboration in power supply and demand management. The MoU will also provide a framework to assess potential collaborations and ventures in new energy and smart grid applications, digital transformation, and operational excellence. “We look forward to our […]

Crude Oil Price Movement to 18/12/18

Crude Oil Price Movement to 18/12/18

December 18, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $58.24 a barrel on Monday, 17 December 2018, compared with $59.07 the previous day, according to OPEC Secretariat calculations. WTI CRUDE • 48.70 BRENT CRUDE 58.0 Prices were pushed lower as production reached near record highs in the US and Saudi Arabia. Russia’s output has […]

Deeper Oil Production Cuts may be needed in late 2019

Deeper Oil Production Cuts may be needed in late 2019

December 17, 2018 No Comments

Production cuts agreed by OPEC and its allies are on track to balance global oil markets in the first half of 2019, but more work may be needed after that. If Saudi Arabia, Russia and other countries in the so-called OPEC+ coalition cut production by 1.2 MMbpd as promised for the first six months of […]

Saudi Aramco and Raytheon to establish JV in cybersecurity

Saudi Aramco and Raytheon to establish JV in cybersecurity

December 14, 2018 No Comments

Saudi Aramco and Raytheon Company, through its subsidiary Raytheon Saudi Arabia, signed a Memorandum of Understanding to establish a joint venture company that will develop and provide best-in-class cybersecurity services in Saudi Arabia and the region. The joint venture company will market and provide integrated defensive cybersecurity software and hardware capabilities, and perform research and […]

Libya, Iran, Venezuela Secure OPEC Production Cut Exemptions

Libya, Iran, Venezuela Secure OPEC Production Cut Exemptions

December 10, 2018 No Comments

Whether you call it an exemption or a special dispensation, Iran, Libya, and Venezuela have all been spared the pain of cutting production under the newest OPEC agreement forged today with the help of non-OPEC Russia. The real reasons behind the exemptions may never be known, but one thing is for sure: Iran, Libya, and […]

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