Chief executive officer (CEO) of Saudi Arabian oil and gas giant Saudi Aramco has stated that the company would be pressing ahead with its plan to boost output capacity regardless of massive profit drop in 2Q 2020.
Inna Braverman, the founder and CEO of Eco Wave Power has been featured on the Fast Company’s 11th annual list of the Most Creative People in Business. Fast Company’ annual list of the Most Creative People in Business, honors an influential and diverse group of leaders from a vast range of global in
Kuwait Petroleum’s unit KIPIC said two sub-contractors died in an accident on Saturday at its LNG plant under construction in Al-Zour. KIPIC said in a statement it would undertake all the necessary measures to investigate the incident. The company did not provide any additional information. State-ow
McMenon Engineering Services has appointed Bipin Nair, who has over 20 years’ industry experience, as regional general manager for the Middle East and Asia-Pacific regions. He was previously with Wika Group in the Middle East for ten years, rising to the position of regional marketing manager. Bipin
Wind turbine manufacturer Siemens Gamesa posted € 466 million net loss in the third quarter of FY 2020, attributed largely to the effects of the COVID-19 pandemic and challenges in the onshore segment. Between April and June, Siemens Gamesa recorded revenues of € 2.411 billion, an eight percent decl
The upcoming partial return of curtailed OPEC+ oil production from August is set to create a new four-month supply glut of around 170 million barrels, a Rystad Energy analysis reveals.
Eni has successfully tested the well drilled on the prospect called Bashrush, in the North El Hammad concession in the Mediterranean Sea, in the conventional Egyptian waters of the Nile Delta.
GMS has completed its first well intervention workscope using the company’s cantilever workover system, installed on the self-propelled vessel GMS Evolution.
ADNOC has entered into an agreement for the transfer of rights in its Lower Zakum and Umm Shaif and Nasr offshore concessions from CNPC to CNOOC Limited.
Hit by the Covid-19 downturn, the oilfield service market is not likely to rebound to last year’s activity level until 2023, according to a Rystad Energy analysis.
What will happen next in the upstream M&A and what direction will it take? Is now the time to go on the first buying spree after the COVID-19 outbreak and get the high-value goods at a bargain price? Chevron might agree.
Bahri, the world’s largest owner and operator of very large crude oil carriers (VLCCs), recorded a surge of 1,569% in its net profit for the second quarter of 2020, reaching SAR 760.61 million ($ 202.7 million). Total revenue came in at SAR 3.53 billion, up 145% from SAR 1.44 billion recorded in the
Qatar’s Nakilat, the world’s largest LNG shipper, reported a 15.5 percent rise in first-half profit as it reduced administrative costs and purchased stakes in four vessels. The Qatari LNG shipping giant posted a net profit of 550 million riyals ($151 million) compared to 476 million riyals in 2019.
The COVID-19 pandemic has stymied oil and gas activity, a phenomenon which has now affected the drilling market both in terms of wells drilled and in terms of related demand for drilling equipment.
