Total project cost of $630 million to increase production capacity by 50% to 690 million scf/day from April 2023
Pearl Petroleum Company Limited, the consortium led by Dana Gas and Crescent Petroleum of the UAE, has signed a $250 million financing agreement with the U.S. International Development Finance Corporation (DFC) to support the gas expansion works currently under way at the Khor Mor gas plant in the Kurdistan Region of Iraq (KRI). DFC is […]
Partnership would leverage digital transformation to support Saudi Arabia’s Energy Transition and expand its knowledge economy
Aramco, one of the world’s largest integrated energy and chemicals companies, and AVEVA, a global leader in industrial software, driving digital transformation and sustainability, have today announced their intention to form a strategic alliance. Focused on driving sustainability in the region through digital transformation, the partnership will help enable AVEVA to establish their largest digital […]
Organisations from across the energy industry, including OPEC and the GECF, held a roundtable to address their role in taking climate action
The Gas Exporting Countries Forum (GECF), the global platform of the leading gas producing countries, on Monday joined OPEC, non-OPEC, and a plethora of other international energy organisations to present a unified front on the advancement of natural gas as part of a balanced energy solution to achieve sustainable development goals. The OPEC-hosted Ministerial Roundtable […]
Oil prices are rising today as shut-in US production struggles to come back as fast as refinery capacity does, and as negotiations that could bring back Venezuelan barrels so far failed to conclude on an agreement
It is a great Wednesday for oil prices as today they are receiving support from all sides. US production that was shut-in due to the Hurricane Ida is struggling to return as fast as refinery capacity does, and that means refinery demand is not met with the supply it normally would from producers. Another important […]
Only 12.1% see digital technologies as a key driver of circular economy transformation
Recent survey by DNV and World Business Council for Sustainable Development (WBCSD) reveals that circular economy is rising on corporate agendas across geographies. Despite the growing attention in the public, among legislators and companies, the shift to ‘circular economy‘ business models that design waste out of the system seems to progress slowly. “So far, growing […]
The company secured more than $50 million from five long-term contracts awarded by ADNOC companies
Penspen, a leading global energy services company, has recorded a highly successful year to date in the Middle East and Africa with a strong performance forecast for the rest of the year. The company’s Project Management Consultancy (PMC) service line has secured more than $50 million from five new, long-term contracts from ADNOC, ADNOC Onshore, […]
On September 6, 2021, ADNOC announced its intention to float a 7.5% minority stake of ADNOC Drilling on the Abu Dhabi Securities Exchange
The Abu Dhabi National Oil Company (ADNOC) and its subsidiary ADNOC Drilling Company and Helmerich & Payne, Inc. (H&P), a global leader in rig technologies and drilling solutions, announced a strategic alliance that will see ADNOC Drilling acquire eight FlexRig® land rigs from H&P for $86.5 million. Following this transaction, H&P will make a $100 […]
Hamdi Ben Salem, general manager for the Middle East and North Africa for HYTORC, talks about the company’s growth plans and strategic partnerships
HYTORC has several new distribution and workshop facilities—how will this impact your business? Five years ago HYTORC has implemented an accelerated growth plan for the Middle East & North Africa region, a vision became a reality that Junkers family ambitioned for a while. HYTORC is leading the bolting industry globally and dominated principally the market […]
The Oil & Gas Future Forum is virtual and free to attend, and will comprise three panels starting at 2PM GST on 27 October–join us to hear from industry experts and to ask them your questions directly! Panel 1 – Hydrogen on the Horizon In our first discussion of the day, we will explore the […]
There is no more time to delay, we have to push the energy transition forward at full speed
I’m not much of an alarmist, and I believe that change comes in waves. Still, the early-August IPCC report has stirred a sense of urgency in people across the globe and across industries. I also feel the call of that urgency, and believe that the oil and gas industry is absolutely integral to the energy […]
