Aramco announced on March 24 that it has signed a non-binding agreement with Samsung Electronics Ltd., which sets forth preliminary plans for a strategic collaboration that would localise an industrial 5G technology ecosystem, starting with private networks, in Saudi Arabia. The proposed collaboration aims to contribute to the digital transformation of various industrial sectors in […]
Author Archives: Faiza Rizvi
Posted inNews
African banks invest $16 billion in oil and gas projects
The African Export-Import Bank (Afreximbank) and the African Finance Corp (AFC) have invested about $16 billion in oil and gas projects across Africa, the Guardian reported. This was disclosed at the recent African Refiners and Distribution Association conference in South Africa, where stakeholders urged companies to keep funds within the continent to finance the over […]
Posted inNews
Offshore oil and gas workers threaten mass strikes; demand fair share of profits
Oil and gas workers are planning large-scale North Sea strikes amid bumper profits for fossil fuel firms, which have fueled calls for better pay for employees. About 1,400 workers across five rig-servicing companies plan to strike between late March and early June as part of a dispute over jobs, pay and conditions, potentially shutting down […]
Posted inNews
EPC contractor Petrojet signs agreement for green hydrogen projects in Egypt
Egypt-headquartered EPC contractor Petrojet has signed an agreement with DNV, a global independent energy expert, to support green hydrogen projects in Egypt. The deal aims to scope areas in which DNV can support Petrojet with its technical expertise in design verification and project assurance, as Petrojet is seeking a leading role as a green hydrogen […]
Posted inPeople
SABIC appoints Al-Fageeh as CEO and executive board member
Saudi Basic Industries Corp, also known as SABIC, confirmed today the appointment of Abdulrahman Al-Fageeh as CEO and executive member of the board. Al-Fageeh has served as acting CEO of SABIC since September 28, 2022, succeeding HE Yousef Al-Benyan who was appointed Minister of Education for the Kingdom of Saudi Arabia by Royal Decree. “Abdulrahman […]
Posted inNews
L&T wins major offshore contracts in the Middle East
Indian contractor L&T announced in a statement that it has secured multiple offshore EPCI contracts from a ‘prestigious overseas client.’ According to a report by Upstream, the contracts have been awarded by Saudi Aramco to a consortium of Subsea 7 and L&T under the Aramco’s long-term agreement (LTA) framework to which a select group of […]
Posted inEnergy Transition
ADNOC Drilling, Masdar sign deal for geothermal projects
ADNOC Drilling has signed a 5-year deal with Abu Dhabi’s clean energy pioneer Masdar to develop, invest, and advance energy transition globally and in the UAE. Under the scope of the deal, Masdar will work with ADNOC Drilling on geothermal energy projects. The companies will evaluate the potential for ADNOC Drilling to provide geothermal drilling services. […]
Posted inNews
Aramco, DHL to build procurement and logistics hub for the energy sector
Saudi Aramco announced on Monday a new end-to-end procurement and logistics hub joint venture with logistics firm DHL Supply Chain. The new venture, which is expected to be operational in 2025, aims to provide top-notch integrated procurement and logistics services to further enhance supply chain efficiency as well as sustainability in the region, Aramco noted in a press release.   The JV, which the […]
Posted inNews
Kuwait Oil Company declares ‘state of emergency’ after oil spill
Kuwait Oil Company declared a “state of emergency” on Monday following an oil spill on land although no injuries or disruption to production was reported. The emergency followed an “oil leak in the west of the country”, the state-owned company said in a statement, after a video posted by Kuwaiti media showed a gushing pipe […]
Posted inNews
Saudi Aramco, Almar Water Solutions partner for Zuluf Water Project
Saudi Aramco has partnered with Almar Water Solutions, water infrastructure and services company and Al Jomaih Energy and Water Co (AEW) to develop a water project which consists of a water treatment plant with a 185,000 m3/day capacity of water injection for the Zuluf mega-project. The contract was signed last December, while the financial closing materialised by […]
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