Global oil and gas drilling contractor Nabors has partnered with Oil & Gas Middle East as the Silver Sponsor for the Oil & Gas Middle East Awards 2022, which are set to take place on March 2 at Grosvenor House, Dubai. The 13th installment of the event will gather executives from the upstream and downstream sectors in […]
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QatarEnergy and China’s CNPC to sign major LNG deal
China National Petroleum Corp (CNPC) will soon finalise a deal to buy LNG from QatarEnergy from Qatar’s massive North Field expansion project, Reuters reported, citing three people with knowledge of the matter. This would be the second such deal between both countries as Beijing looks to diversify its fuel sources in a drive to replace […]
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Saudi Arabia’s NEOM hydrogen mega-project cost soars to $8.5 billion
Inflation, spare parts, upfront fees for land and interest on loans have contributed to the $3.5 billion budget increase
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Reduced work hours expected for UAE employees in Ramadan
Similar to previous years, workers in the UAE will enjoy shorter working hours in Ramadan, which is expected to begin on March 23, according to local media reports. According to the UAE labour law “Private sector workers are required to work 8 hours per day or 48 hours per week. During the holy month of Ramadan, […]
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ADNOC Drilling reports record profits, $10 billion contracts in 2022
ADNOC Drilling Co today reported record breaking net profits totaling $802 million, up 33% year-on-year. Additionally, the company secured over $10 billion of contract backlog during the period, ADNOC Drilling’s CEO Abdulrahman Abdulla Al Seiari noted. The company also achieved record revenue during the fourth quarter of 2022, while its fleet expansion program delivered the […]
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Kuwait awards $77.5 million contract for pipeline construction
Kuwait’s state-owned Kuwait Oil Co (KOC) has awarded a $77.5 million contract for a project involving the construction of pipelines at two of its Northern oilfields, Arabic language daily Al-Anba reported, quoting KOC sources. The scope of work includes building pipelines and proving associated services for the Northern oilfields of Um Niqa and South Retqa, […]
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EPC giant NMDC reports profit growth; $2.6 billion contracts
UAE’s EPC heavyweight National Marine Dredging Group (NMDC), with over $15 billion of projects under execution, has grown its net profit by 30% in 2022 to reach $350 million, the company recently reported. The company also noted that it secured contracts worth $2.6 billion last year. While the group strengthened its position locally and regionally, […]
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