Arabian Industry - Oil & Gas Guide to Middle East industry news and tenders. Includes Construction, Hospitality, Aviation, Technology, Oil, Gas, Travel, Supply Chain, Utilities, Comms, and Petrochemicals information as well as live market data. Gulf business events, information, photos and data for Saudi, UAE, Qatar, Kuwait, Bahrain and more. Sat, 26 Sep 2020 01:25:49 +0400 Arabian Industry - Oil & Gas 144 16 en ITP Digital Ltd. 2020 (webmaster) Sat, 26 Sep 2020 01:25:49 +0400 20 Energy transition could push oil majors to sell or swap oil and gas assets of more than $100 billion A study by Rystad Energy looked at the Majors+ to examine the impact of the energy transition News | Oil & Gas Wed, 23 Sep 2020 01:15:00 +0400 Opec must continue working with its non-Opec allies to overcome downturn, says MEED Opec is celebrating its 60th birthday this month News | Oil & Gas Tue, 22 Sep 2020 04:45:15 +0400 Global oil & gas project sanctioning is set to recover and exceed pre-Covid-19 levels from 2022 Total committed oil and gas spending is expected to drop to $53 billion from 2019's $190 billion News | Oil & Gas Tue, 22 Sep 2020 09:45:15 +0400 ADNOC partners with Mubadala and ENEC for ICV The partnership brings together the companies to cooperate in further driving ICV for the country News | Oil & Gas Mon, 21 Sep 2020 05:00:15 +0400 Tatweer Petroleum signs joint sudy agreement for Offshore Block 2 with Eni The deal covers integrated interpretation and assessment of geological and geophysical data relevant to Offshore Block 2 News | Oil & Gas Mon, 21 Sep 2020 09:45:30 +0400 Kuwait plans to double LNG capacity by March Al-Zour LNG terminal will be the middle east's largest News | Oil & Gas Sun, 20 Sep 2020 03:30:30 +0400 Abu Dhabi buys $615 million stake in US LNG exporter The Abu Dhabi Investment Authority is the fourth-largest shareholder in Cheniere Energy News | Oil & Gas Sun, 20 Sep 2020 09:45:45 +0400 Low carbon future for offshore vessel sector The global offshore wind industry continues to balloon, adding 6.1 GW capacity in 2019 and has continued to grow through the Covid-19 pandemic News | Oil & Gas Sat, 19 Sep 2020 05:45:15 +0400 Khurais becomes second Aramco facility to join prestigious WEF Global Lighthouse Network Advanced technologies drive improvements in efficiency, safety and environmental performance News | Oil & Gas Fri, 18 Sep 2020 05:45:45 +0400 Stalled demand and lack of Covid-19 vaccine may delay oil price recovery above $50 until 2021 Impact of low oil prices over longer term coupled with drop in tourism will challenge GCC economies, says Saxo Bank News | Oil & Gas Thu, 17 Sep 2020 05:45:45 +0400 Iraq appoints oil minister as head of national oil company Placing Ismael at the head of the company could mean further development of the country's oil and gas sector through INOC News | Oil & Gas Thu, 17 Sep 2020 09:45:15 +0400 Eni makes gas discovery in Mediterranean Sea The discovery was in the Great Nooros Area, Eni's latest development in Egypt News | Oil & Gas Wed, 16 Sep 2020 04:45:15 +0400 Daniel Yergin releases book on oil's 'new global map' The New Map: Energy, Climate and the Clash of Nations was released on Tuesday, and considers the energy transition and slowing oil demand News | Oil & Gas Wed, 16 Sep 2020 10:30:00 +0400 FSU to spearhead global working gas capacity additions through 2024, says GlobalData GlobalData identifies Europe as the second-highest contributor to the global working gas storage capacity additions contributing around 28% or 792 bcf by 2024 News | Oil & Gas Tue, 15 Sep 2020 04:15:30 +0400 ADNOC completes $1 billion institutional placement of ADNOC Distribution shares ADNOC has successfully completed a placement to institutional investors of 1.25 billion shares in ADNOC Distribution News | Oil & Gas Tue, 15 Sep 2020 09:45:45 +0400 Kuwait cancels $400 million oil and gas project The project was awarded earlier this year for the development of heavy crude facilities in the north of the country News | Oil & Gas Mon, 14 Sep 2020 06:15:00 +0400 We have reached peak oil demand: BP report The most bullish scenario it outlined still saw demand remain "broadly flat" in the next two decades as the world moves towards lower-carbon energy. News | Oil & Gas Mon, 14 Sep 2020 11:15:15 +0400 ADNOC invests $245 million to upgrade main oil lines and Jebel Dhanna Terminal The EPC contracts have a combined value of around $245 million and were awarded to China Petroleum Pipeline Engineering Company Limited – Abu Dhabi and Abu Dhabi-based Target Engineering Construction Co. L.L.C. News | Oil & Gas Sun, 13 Sep 2020 05:15:30 +0400 Weatherford appoints Girish Saligram as CEO Prior to Exterran Corporation, Saligram spent 20 years with GE in positions of increasing responsibility as a functional and business leader in industry sectors across the globe News | Oil & Gas Sun, 13 Sep 2020 01:15:15 +0400 Seeq closes series B funding and adds Cisco Investments Cisco Investments joins Saudi Aramco Energy Ventures, Altira Group, Chevron Technology Ventures, and Next47 to fund Seeq product and market expansion. News | Oil & Gas Thu, 10 Sep 2020 10:15:30 +0400 Global oil and gas contracts activity continued downtrend during Q2 2020 The oil and gas industry recorded contract value of $31.96bn in Q2 2020, as compared $18.01bn reported in the previous quarter News | Oil & Gas Wed, 09 Sep 2020 06:30:00 +0400 Europe could see $35 billion in CCS spending till 2035 In Europe alone there are around 10 larger projects, with both carbon capture and storage, that are planned and have a high chance of being operational by 2035 News | Oil & Gas Tue, 08 Sep 2020 12:00:30 +0400 UN Secretary General calls for rapid action to achieve global carbon neutrality by 2050 Dr. Sultan Al Jaber said that advanced technologies have a vital role to play in protecting and enhancing global supply chains from global shocks News | Oil & Gas Mon, 07 Sep 2020 06:15:00 +0400 Saudi Aramco seeks tighter portfolio management, says GlobalData’s MEED The recent decision to create an integrated corporate development organisation is the next step in the exercise to undertake proficient management of the overall enterprise News | Oil & Gas Mon, 07 Sep 2020 12:15:00 +0400 ADNOC Distribution appoints new CFO Mohamed Al-Hashimi will move from COO of the company to take on the role of CFO News | Oil & Gas Thu, 03 Sep 2020 11:15:00 +0400 ADNOC enters into $5.5 billion real estate investment partnership A consortium led by Apollo Global Management acquired a 49% stake in Abu Dhabi Property LEasing Holding Company RSC Limited, a wholly owned affiliate of ADNOC News | Oil & Gas Wed, 02 Sep 2020 11:15:30 +0400 Libya shuts down Sharara field after COVID-related death The company blamed the infection on the continuous presence of foreign mercenaries in the field News | Oil & Gas Tue, 01 Sep 2020 06:15:45 +0400 Sparrows Group appoints Saudi Arabia general manager to drive growth Last year the business secured vendor approval status from Saudi Aramco News | Oil & Gas Tue, 01 Sep 2020 02:45:15 +0400 The Middle East Energy Awards return: Submit a nomination now Submit your nominations now for a chance to be honoured at the Middle East Energy Awards on 24 November in Abu Dhabi! News | Oil & Gas Mon, 31 Aug 2020 10:45:30 +0400 Saudi Aramco makes two new oil and gas discoveries The two fields are in the north of country bordering Jordan News | Oil & Gas Sun, 30 Aug 2020 05:30:00 +0400 CEO of Aramco's $500 million investment arm reportedly steps down This comes during a shake up of Aramco's management team News | Oil & Gas Sun, 30 Aug 2020 10:30:30 +0400 Rockwell Automation to name INTECH Process Automation as UAE solution partner INTECH Process Automation can now deliver Rockwell's solutions in the UAE News | Oil & Gas Fri, 28 Aug 2020 11:00:00 +0400 SPARK and Kuwait's NAPESCO plan $100 million investment in oil and gas facility The facility will manufacture downhole tools, gyroscopes, and other oilfield equipment News | Oil & Gas Thu, 27 Aug 2020 08:30:30 +0400 PDO awards $20 million construction contract to Al Hassan Engineering The construction works contract was secured for PDO's Qarn Alam Cogeneration Power project News | Oil & Gas Tue, 25 Aug 2020 01:30:00 +0400 About 150 more North American E&Ps will need Chapter 11 protection by end-2022 So far this year 32 E&Ps have already filed for Chapter 11, recording a cumulative debt of about $40 billion News | Oil & Gas Tue, 25 Aug 2020 10:30:30 +0400 Weir signs $1 million strategic UAE deal The three-year agreement covers servicing and repairing pumps and motors for a national oil company News | Oil & Gas Mon, 24 Aug 2020 05:15:00 +0400 Saudi Aramco reshuffles top management team The company created a new corporate development team and changed its heads of upstream and downstream News | Oil & Gas Mon, 24 Aug 2020 12:45:45 +0400 Once the costliest for deepwater opex, South America emerges as cost-saving champion in 2020 South America’s deepwater opex is driven mainly by Brazil, which accounted for roughly 99% of the continent’s brownfield costs from 2013 to 2020 News | Oil & Gas Fri, 21 Aug 2020 10:00:00 +0400 Oil demand could see 97% recovery by Q4: Saudi oil minister Countries lagging behind with OPEC+ cuts will have to compensate with additional cuts until September News | Oil & Gas Thu, 20 Aug 2020 09:15:30 +0400 Iran's NIOC signs 13 oil deals worth $1.8bn NIOC subsidiaries signed deals with 14 local companies News | Oil & Gas Wed, 19 Aug 2020 02:30:30 +0400 KOC develops three new fields to boost oil and gas production Once operational, the fields will boost Kuwait's free gas production capacity to 850 million cubic feet per day News | Oil & Gas Wed, 19 Aug 2020 11:00:30 +0400 ADNOC's $3.5 billion project to upgrade Ruwais refining 73% complete The project allows for the Upper Zakum grade to be processed along with over 50 other types of different crudes News | Oil & Gas Tue, 18 Aug 2020 08:30:00 +0400 Oil price rises on optimism before OPEC+ meeting The group is expected to return 1.5 million barrels per day of production to the market News | Oil & Gas Tue, 18 Aug 2020 08:00:30 +0400 Bahrain awards $1.7 billion contracts in H1 2020 Construction and engineering had the most valuable deals, followed by the oil and gas sector News | Oil & Gas Mon, 17 Aug 2020 03:45:30 +0400 UAE mega-merger: Senaat extends offer to combine NPCC and National Marine Dredging The merger would create a company with integrated 2019 revenue of $2.42 billion News | Oil & Gas Mon, 17 Aug 2020 09:45:00 +0400 US shut-in oil comes back: Most curtailed output is set to return by the end of August The cuts monitored in the sample group were implemented mostly in April and May, and were entirely driven by economic and technical considerations, with operators shutting in lower margin wells while reducing flowback on others News | Oil & Gas Sun, 16 Aug 2020 10:00:30 +0400 Ducab Group announces profitable H1 2020 despite COVID-19 Ducab group has a manufacturing capability of over 115,000 metal tonnes of high, medium, and low-voltage cable solutions News | Oil & Gas Sat, 15 Aug 2020 10:00:45 +0400 Libya’s oil blockade is expected to persist further, shrinking upcoming global production glut by 65% The oil blockade is entering its seventh month, with oil output hovering at 100,000 barrels per day News | Oil & Gas Thu, 13 Aug 2020 12:00:00 +0400 Zone 1 computer manufacturer provides insight into conditions oil and gas hardware has to withstand The oilfield provides extreme working conditions for man and machine News | Oil & Gas Wed, 12 Aug 2020 11:45:30 +0400 Aramco announces second quarter and half-year 2020 results The company posted net income of $6.6 billion for Q2, and $23.2 billion for H1 2020 News | Oil & Gas Tue, 11 Aug 2020 10:45:15 +0400 BP to move heavily in acquisitions & divestments to deliver new strategy, says GlobalData The company is focusing on renewables and decarbonisation News | Oil & Gas Mon, 10 Aug 2020 11:30:15 +0400 Global oil & gas industry M&A deals total $23.95bn in Q2 2020 The value increased 114.2% over the previous quarter, but a drop of 68.8% compared to the previous four-quarter average News | Oil & Gas Sun, 09 Aug 2020 11:15:30 +0400 Shell’s market outlook yields optimistic margins for its low energy carbon future, says GlobalData Shell is focusing on cleaner energy solutions, and recently won a contract for an offshore subsidy-free wind farm in the Netherlands News | Oil & Gas Sat, 08 Aug 2020 11:00:30 +0400 Airborne Oil & Gas appoints William de la Motte as chief financial officer He is based at Airborne Oil & Gas’ headquarters in Ijmuiden in The Netherlands, where it also hosts its 24/7 TCP manufacturing plant News | Oil & Gas Fri, 07 Aug 2020 10:30:00 +0400 $300 billion transportation & logistics industry is still in infancy of digital transformation While steady industry growth continues, Lux Research finds that new hurdles arise in agility, sustainability, and visibility News | Oil & Gas Thu, 06 Aug 2020 10:15:15 +0400 Remote monitoring of pipeline equipment and factory testing proves its worth post Covid-19 Virus risk reduced, carbon footprint slashed and offshore bed space maximised News | Oil & Gas Wed, 05 Aug 2020 09:15:15 +0400 An increase of exports is not enough to avoid a Q2 loss in net results for Petrobras While Petrobras seems to have a safe outlet in Asia, GlobalData says it is not enough to counter the impact of the current crisis News | Oil & Gas Tue, 04 Aug 2020 09:00:30 +0400 Weatherford remotely installs liner hanger on russian offshore platform during COVID-19 lockdown Remote training and monitoring procedures enable successful installation using a restricted crew News | Oil & Gas Mon, 03 Aug 2020 11:00:45 +0400 Permian gas output will rise, but flaring could increase from 2023 if Covid-19 delays new pipelines In the second half of the year, and into 2021-2023, Rystad Energy expects Permian gas production will see a rapid boost assuming a $45-$50 WTI environment News | Oil & Gas Fri, 31 Jul 2020 08:45:30 +0400 Eni successfully tests Egypt's Bashrush discovery in North El Hammad concession in Mediterranean Sea The well has been opened to test potentiality of production, and it delivered up to 32 MMscfd of gas News | Oil & Gas Thu, 30 Jul 2020 08:45:30 +0400 More OPEC+ oil production from August and Covid-19 second wave to create a 4-month supply glut June was a month when global stocks saw some relief of 2.2 million barrels per day (bpd) of implied oil inventory draws News | Oil & Gas Wed, 29 Jul 2020 08:45:45 +0400 Eni announces oil discovery and production in Egypt's South West Meleiha Concession Eni announces the discovery of new oil resources in the Western Desert of Egypt with a new exploration well in the South West Meleiha Concession. Production in the Concession started just one year ago and is now in excess of 12,000 bopd. News | Oil & Gas Tue, 28 Jul 2020 01:00:30 +0400 mGuard Secure Remote Service update The remote monitoring solution is now also available in South Africa and Turkey. News | Oil & Gas Tue, 28 Jul 2020 12:45:45 +0400 Webinar at 12PM: Oil & gas at a digital tipping point Don't forget to register and attend our webinar today for a fascinating discussion between technology experts and a leading national operating company News | Oil & Gas Mon, 27 Jul 2020 09:45:00 +0400 Webinar tomorrow, last chance to register In our webinar “Oil & gas at a digital tipping point”, experts from ADNOC and ABB will discuss how digital technology can make companies more resilient News | Oil & Gas Sun, 26 Jul 2020 11:15:15 +0400 A mild second wave of Covid-19 is now Rystad Energy’s base case scenario for oil demand The updated base case scenario assumes a temporary pause in global demand recovery, as the reopening of Europe and other regions is offset by Covid-19 outbursts in populous and high oil-consuming countries in the Americas and Asia such as the United States, Brazil and India News | Oil & Gas Sun, 26 Jul 2020 10:15:15 +0400 Low oil and coronavirus mean double trouble for GCC corporates: S&P S&P Global Ratings comments on the impact of market conditions on corporations in the GCC News | Oil & Gas Sat, 25 Jul 2020 01:15:45 +0400 Energy transition projects could replace up to 40% of the OFS industry’s lagging upstream revenue In terms of market opportunities, most traditional oilfield service suppliers are looking to expand into low carbon segments News | Oil & Gas Fri, 24 Jul 2020 01:00:30 +0400 ADIPEC to be held virtually in 2020 Online conference to be held between November 9 and 12, 2020 News | Oil & Gas Thu, 23 Jul 2020 12:30:00 +0400 Global gas flaring level jump to highest levels since 2009: World Bank The amount of gas flared is equivalent to the total annual gas consumption of Sub-Saharan Africa News | Oil & Gas Wed, 22 Jul 2020 11:45:00 +0400 Next week, experts discuss how digital could boost the oil and gas recovery In our webinar “Oil & gas at a digital tipping point”, experts from ADNOC and ABB will discuss how digital technology can make companies more resilient News | Oil & Gas Tue, 21 Jul 2020 09:45:45 +0400 Oil & gas project sanctioning in 2020 set to fall by more than 75% despite activity in Norway, Russia Rystad Energy estimates total sanctioning value will end up at around $47 billion News | Oil & Gas Mon, 20 Jul 2020 12:45:30 +0400 Supply chains of national energy companies significantly impacted by COVID-19 75 percent of 2020 BCG National Energy Operator Survey respondents faced supply disruptions that impacted operations, says BCG report News | Oil & Gas Sun, 19 Jul 2020 12:30:15 +0400 OPEC sees improving market conditions and conformity levels Overall conformity for June hit 95% News | Oil & Gas Sat, 18 Jul 2020 12:30:45 +0400 Libya NOC lifts force majeure on oil exports but technical problems will keep production low A blockade has interrupted supply in Libya since January News | Oil & Gas Wed, 15 Jul 2020 12:00:45 +0400 Weatherford signs 18-month contract with Iraqi Drilling Company Agreement cover services and project management for drilling and completion of 20 wells News | Oil & Gas Tue, 14 Jul 2020 12:00:15 +0400 Digital strategies will fuel oil and gas recovery The coronavirus pandemic is pushing the oil and gas industry to grow its use of digital technology News | Oil & Gas Mon, 13 Jul 2020 09:15:00 +0400 ALEC Energy inks agreement with Azelio for the development and installation of regional energy storage The collaboration is focused on the Middle East and Africa, where ALEC Energy aims to expands its business offering News | Oil & Gas Sun, 12 Jul 2020 03:45:45 +0400 Libya NOC chairman meets with ENI CEO Claudio Descalzi The focus of the meeting was the follow-up of Eni’s continuous support to the country for the access to energy as well as business continuity News | Oil & Gas Sat, 11 Jul 2020 01:00:30 +0400 OPEC secretary-general and president discuss oil market Mohammad Barkindo and Abdelmadjid Attar discussed the current market crisis and OPEC's role in moving towards a recovery News | Oil & Gas Fri, 10 Jul 2020 01:00:00 +0400 Avoid downtime in trying times AVEVA comments on the importance of removing unplanned downtime from oil and gas companies’ list of worries in difficult times News | Oil & Gas Wed, 08 Jul 2020 11:45:00 +0400 Webinar: Has the market crisis forced oil and gas to its digital tipping point? Oil & Gas Middle East introduces its webinar on the renewed urgency for digital transformation in the oil and gas sector, and how it can fuel the industry’s resilience and crisis recovery. Register to attend now! News | Oil & Gas Tue, 07 Jul 2020 10:30:30 +0400 Oman signs exploration agreement for Block 58 with Sweden's Tethys Oil The first phase of exploration will involve a 3D seismic survey and two exploration wells News | Oil & Gas Mon, 06 Jul 2020 10:45:00 +0400 Modelling a second Covid-19 wave: Oil demand in 2020 could lose another 2.5 million bpd North America (notably the lower US states), the Middle East and Southeast Asia will be hit relatively harder, Rystad Energy’s modelling shows News | Oil & Gas Sun, 05 Jul 2020 12:15:15 +0400 How GCC countries could re-calibrate their strategies due to low oil prices: Deloitte A report by Deloitte outlines the possible responses that oil-dependent governments could take given low oil prices News | Oil & Gas Sat, 04 Jul 2020 01:00:45 +0400 Brooge Energy reports record revenue of $44 million Storage became a serious issue as demand plummeted due to the coronavirus pandemic News | Oil & Gas Fri, 03 Jul 2020 10:15:00 +0400 Half-year discoveries total 4.9 billion boe, lowest of the century The resource volumes were 42% lower and the number of discoveries was down by 31% compared to the same period in 2019 News | Oil & Gas Thu, 02 Jul 2020 10:15:30 +0400 New gas discovery in the Mediterranean Sea offshore Egypt Eni, BP and Total have successfully drilled the first exploration well in the North El Hammad license News | Oil & Gas Wed, 01 Jul 2020 04:00:30 +0400 Saudi Aramco CEO says the 'worst is behind us' for oil markets Amin Nasser is optimistic about the second half of the year, and credited IKTVA and previous attacks on Aramco helped it build resilience before the pandemic News | Oil & Gas Wed, 01 Jul 2020 11:30:30 +0400 ADNOC to shut down Bab oil field for maintenance The onshore oil field produces more than 370,000 barrels per day News | Oil & Gas Tue, 30 Jun 2020 10:00:30 +0400 Iran launches pipeline project bypassing Strait of Hormuz Iranian President Hassan Rouhani called it a strategic prorject News | Oil & Gas Tue, 30 Jun 2020 09:30:15 +0400 OPEC fund approved $243 million to support developing countries $163 million will go to the public sector, and $80 million to private sector operations News | Oil & Gas Mon, 29 Jun 2020 12:45:00 +0400 For smart time control applications NFC communication and the smartphone app provide further setting options, such as the simultaneous configuration of several devices. News | Oil & Gas Sun, 28 Jun 2020 02:01:32 +0400 Ghazeer field '99% ready' for start of production: BP Oman chief The project consists of 500 million cubic feet of gas News | Oil & Gas Sun, 28 Jun 2020 10:30:00 +0400 Global gas output set to fall by 2.6% in 2020, associated gas to take the hardest hit The biggest drop in associated gas production will be felt in North America News | Oil & Gas Sun, 28 Jun 2020 10:15:45 +0400 Most COVID-19 impacted midsize US oil operators have primarily liquid-rich operations Primary commodity type determines level of impact by the crisis on US midsize companies’ operations, GlobalData says News | Oil & Gas Sat, 27 Jun 2020 10:30:15 +0400 Rockwell Automation appoints new managing director for Sub-Saharan Africa Contributing her strong industry expertise in mining, minerals, metals, power, energy, and oil & gas, Canninah Mapena has been appointed as the Managing Director of Rockwell Automation in Sub-Saharan Africa. News | Oil & Gas Fri, 26 Jun 2020 10:30:00 +0400 Azelio signs a MoU with Trimark Associates in the US for energy storage projects across North America In addition to this MoU, the parties anticipate an extended project pipeline once the first projects are initiated. News | Oil & Gas Thu, 25 Jun 2020 10:15:00 +0400 OPEC compliance reached 87% in May 2020 GCC nations made additional cuts to help boost compliance News | Oil & Gas Wed, 24 Jun 2020 10:45:30 +0400 ADNOC announces $20.7 billion pipeline investment deal The company says that the transaction will result in upfront proceeds of over $10 billion to ADNOC News | Oil & Gas Tue, 23 Jun 2020 02:45:15 +0400