Prices are expected to remain weak in the short-term
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Scottish firm OilMac Secures $20mn deal
Deal has been signed with undisclosed international drilling contractor
Q&A, Weir Oil & Gas
Vikas Handa, managing director, opens up to Oil & Gas Middle East about the $20mn factory, the company’s operations and its resistance to low oil prices
Saudi Oil Minister rules out OPEC production cuts
Ali Al-Naimi however said that he was confident more nations would join a pact to freeze output at existing levels in OPEC and non-OPEC talks expected in March
Assessing oil & gas’ winners and losers
Low oil prices are hurting oil producers, but benefiting consumer countries
GE Oil & Gas signs master agreement with Statoil
GE will provide support for new subsea projects globally
Dubai’s ENOC sells over 220mn oil barrels in 2015
Company says its acquisition of Dragon Oil has given the Dubai Government control of strategic assets capable of producing over 100,000 bpd of oil
Saudi Oil Minister to face rival US producers
Ali Al-Naimi will be addressing US wildcatters and executives at the annual IHS CERAWeek conference in Houston tomorrow
Shell starts process to pay Iran $2bn in oil debt
The Anglo-Dutch oil giant says it had been so far barred from paying due to western sanctions imposed against the Islamic Republic
Saudi, Iraq sell more oil to India; edge out LatAm
Saudi Arabia was the top supplier to India in January, with volumes jumping 29% from the same month a year ago to nearly 940,000 bpd