Saudi Aramco has signed 34 engineering, procurement and construction (EPC) related contracts (worth over US$18bn) for projects such as the Marjan and Berri field incremental development program in Saudi Arabia, during Q3 2019, according to GlobalData…
South Korea's top shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group said that its holding company HHI Holdings Co will receive 1.4 trillion won ($1.24 billion) in proceeds next month from the sale of a stake in its refining unit…
India and Saudi Arabia have decided to expand its ‘energy relationship’ into next phase to include Saudi partnership in building additional crude oil storage reserves in India, a new refinery on the west coast of India and investment in retail sector in petroleum…
The Regional Clean Sea Organization (RECSO), an oil industry co-operative organisation in the Middle East, has hosted First RECSO Enviro Spill Conference and Exhibition.In delivering the keynote speech at the opening ceremony, Abdulhakim A. Al-Gouhi…
S-Oil, South Korea's third-largest refiner, said on Wednesday that regional refining margins are expected to improve in the fourth quarter on the back of inventory build-up ahead of implementation of stricter rules on marine fuels in 2020.The refiner…
Oil shipping rates are soaring following a series of sanctions on a Chinese transportation giant and limitations placed on movement of Venezuelan crude oil tankers.WHAT HAS HAPPENED TO SHIPPING RATES?The cost of chartering a supertanker to send…
Saudi Arabia's oil and gas giant Saudi Aramco announced that it will fully restore its production capacity by the end of September, in light of the Saturday's drone attacks that caused disruptions on around half of the country's oil capacity…
Saudi Arabia has temporarily halted production at two Aramco oil facilities that were attacked by Yemeni rebels, interrupting about half of the company’s total output.Saudi Aramco said the production of 5.7 million barrels of crude a day had…
Port operator DP World's planned merger of its P&O Maritime and recently acquired Topaz Energy and Marine businesses is expected to be completed by the end of the year, Topaz CEO Rene Kofod-Olsen said on Monday.DP World bought Dubai-based oil…
Saudi Aramco announced that its net income was $46.9 billion for the first half 2019, compared to $53.0 billion for the same period last year. That easily outstripped corporate titans such as Apple Inc, Amazon.com Inc and other big oil producers…
The Saudi Ports Authority (Mawani ) has issued a license to the local subsidiary of Maersk in order to operate in all ports across Saudi Arabia.According to the state news agency SPA, the step comes along with the authority’s strategy to improve…
Saudi Ports Authority has issued a license to the local subsidiary of Maersk to operate in all ports in Saudi Arabia, state news agency SPA reported on Monday.Maersk currently has weekly containerised shipping services to the ports of Jeddah…
Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates and said it was an attempt to undermine the security of crude supplies amid tensions between the United States and Iran…
Saudi Aramco has awarded major stimulation and well-testing contract to Baker Hughes, a GE company (BHGE). BHGE will deliver a comprehensive well services solution including all cased-hole wireline logging, perforation, well testing, stimulation…
Saudi Arabia's Bahri is targeting acquisitions in Asia and the Middle East as the exclusive oil shipper for state energy giant Saudi Aramco seeks to expand its reach, the chief executive said on Wednesday.Bahri is the world's largest owner and operator of very large crude carriers (VLCCs)…