The industrial sector has managed exceptional expansion in Saudi Arabia despite market conditions
Despite the headwinds to global economic growth as a result of the pandemic, the industrial sector stands out due to its exceptional expansion, according to the H1 Saudi Arabia Industrial Market Review by global property consultant, Knight Frank. Faisal Durrani, Partner – Head of Middle East Research, Knight Frank, explained: “The government’s transformational vision for […]
Saudi Arabia is aiming to achieve net zero emissions by 2060
Saudi Arabia’s “bold” climate action plans have been praised by the United Nations after the Kingdom officially submitted its Nationally Determined Contribution (NDC) emissions pledge. Earlier, HRH Crown Prince Mohammed Bin Salman Al Saud announced that Saudi Arabia aims to achieve net zero emissions by 2060 through the Carbon Circular Economy approach. This is based […]
PGS will contribute seismic data from its global MultiClient data library along with technical expertise. and Mit-PFN Energy Co. will lead the AI algorithmic development
Mit-PFN Energy Co. and PGS have signed a Memorandum of Understanding (MoU) to jointly develop and commercialize Artificial Intelligence (AI) driven solutions to image subsurface structures. Analysis of subsurface images is required across the energy sector including oil and gas, carbon capture and storage, as well as in areas of the renewable energy sector, such […]
The month-long run-up in commodity prices shows no sign of easing with the main engine continuing to be the global energy crisis and its direct impact on other sectors, not least the energy-intensive industrial metal sector. Shortages of fuel leading to record-high prices has forced reductions in metal production from China to Europe, thereby exacerbating […]
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Operational technology is increasingly coming into the cybersecurity spotlight, with OT and IT converging, it could represent a major risk for oil and gas companies with thousands and thousands of physical assets, many of which are connected. Many of those assets are back of mind, like old equipment still in the field, routers, and assets […]
NMDC counted revenue of $1.46 billion for the nine months starting January 2021
National Marine Dredging Company (NMDC) reported a significant increase in net profit of $136.4 million (AED 501 million) for the nine months from January to September 2021. The profitable third quarter performance followed the integration of NMDC and National Petroleum Construction Company (NPCC) to become a regional leader in providing integrated oil & gas and […]
The Dubai Supreme Council of Energy has launched the Circular Economy Committee, which will bring public and private entities together to boost the circular economy
The Dubai Supreme Council of Energy launched the Circular Economy Committee, which aims to bring private and public entities together to push cleaner energy applications, according to a statement posted by UAE state news agency WAM. “We aim to develop and launch innovative tools and initiatives in collaboration with our strategic partners to promote the […]
Jonathan Fisher QC writes that Petrofac's real punishment has been served in the Middle East, not in London
The recent fine imposed on Petrofac by a criminal court in London for corrupt dealings is intended to send a clear message to the business community. But the real punishment suffered by the company has been inflicted by the impact of its conduct on its commercial dealings. Instead of benignly acquiescing in the receipt of […]
Yury Sentyurin, Secretary General of the GECF, commented on the role of gas in the energy transition at the Russian Energy Week
The current energy crunch around the world and the intensifying climate change debate serve to highlight the serious need to embed natural gas as part of a long-term solution to energy market stability and transition, HE Yury Sentyurin, Secretary General of the Gas Exporting Countries Forum (GECF) said at the Russian Energy Week (REW). On […]
Liquids storage projects would constitute around 29% of all midstream projects’ starts in China during the period 2021 to 2025
China is expected to commence the operations of 70 midstream oil and gas projects from 2021 to 2025, accounting for about 21% of the total upcoming midstream project starts in Asia by 2025, according to GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Global Midstream New Build and Expansion Projects Outlook, 2021-2025 – […]
