Weir is on the list potentially for the last time this year, since it signed a $405 million deal (not yet finalised) in October 2020 to transfer its oil & gas division to Caterpillar. We still don’t know how this will impact the company’s offerings and long-term performance in the oil and gas sector, but it […]
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Posted inDRILLING & PRODUCTION
Global shale industry on a recovery path after 8.1% production decline in 2020, says GlobalData
Unless an effective vaccine is made available, the uncertainty in global energy demand will continue to weigh down oil prices, and delay shale industry recovery
Posted inProducts & Services
Aramco seeks to expand global footprint in chemicals
The Saudi oil giant has made increasing investments into downstream inside and outside of the kingdom
Posted inDRILLING & PRODUCTION
If OPEC+ increases output in January, a 200 million-barrel glut will build through May
The OPEC+ group will be debating whether or not to maintain its currently curtailed oil production levels to 2021 or to increase them as planned by nearly 2 million barrels per day
Posted inNews
Despite downturn, US shale operators finding new growth opportunities, says GlobalData
The consolidation kick-started by Chevron’s acquisition of Noble Energy for US$13bn
Posted inDRILLING & PRODUCTION
Bahrain awards $2.7 billion worth of contracts in first nine months of 2020
Continued high value of tenders in the construction sector indicative of government focus on multi-billion dollar infrastructure project pipeline
Posted inExploration
ADNOC awards $519 million contract expanding world’s largest 3D seismic survey
This contract increases the scope of the ongoing seismic mega survey to capture coastal areas, islands, and shallow water
Posted inProducts & Services
COVID-19 drives UAE companies to increase tech investment: KPMG
Almost 70% of UAE CIOs have gained more C-suite influence in light of the pandemic
Posted inProducts & Services
PDO completes third phase of digital transformation strategy
This stage of the project included giving PDO’s maintenance and operations teams direct access to the digital twin across the complete business lifecycle