National Oilwell Varco raked in $8.45bn in revenue in 2018, and in July 2019 reported $2.13bn revenue for Q2 2019, but saw a net loss of $5.39bn for that period. It noted in a statement announcing the results that although the North American onshore market has slowed, it is seeing growth in international and offshore […]
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Posted inOilfield Services List
Schlumberger
Schlumberger is an industry titan that needs no introduction, and it has held on to the top spot on this list since it was first introduced in 2017. Its portfolio of products and services is exhaustive, and its focus on the Middle East has only grown with time, as opportunities in the region flourish. Schlumberger […]
Posted inDRILLING & PRODUCTION
Oil price spike after Saudi attack likely short-lived: Rystad Energy
The market’s bullish response to the sudden drop in Saudi Aramco’s production following attacks on its infrastructure could be softened by Saudi Arabia’s crude reserves
Posted inProducts & Services
Expanded East-West Pipeline will provide limited protection for Saudi Arabia, says GlobalData
While expanding the pipeline’s capacity to 6.5mn barrels per day is an infrastructural improvement, it will not completely eliminate risks associated with the potential closure or limited accessibility of the Strait of Hormuz
Posted inDRILLING & PRODUCTION
TAQA produced more than 1mn barrels of oil from Atrush in July 2019
The current rate of gross production at the Atrush block is approximately 34,000 barrels of oil per day
Posted inDRILLING & PRODUCTION
TAQA H1 2019 revenue up 5%, led by oil and gas business
The oil and gas unit of TAQA saw an 11% increase in revenue, due to increased production volumes out of Europe and Iraq
Posted inDRILLING & PRODUCTION
Dana Gas reports 483% increase in H1 2019 net profit to $140mn
The company has seen growing production and revenue out of the Kurdistan Region of Iraq, and independent certification raised its share of hydrocarbon reserves in KRI by 10% to over 1bn barrels of oil equivalent
Posted inDRILLING & PRODUCTION
$859bn ongoing and planned energy projects in the MENA region to meet rising demand
Saudi Arabia, Kuwait and UAE lead the way with strategic investments designed to maximise value and open up new revenue streams
Posted inExploration
Eni and BP sign exploration and production sharing agreement onshore Oman
During the exploration phase, Eni and BP will each hold a 50% interest in the agreement for Block 77, with Eni acting as the operator
Posted inProducts & Services
Eni closes $3.24bn acquisition of 20% equity interest in ADNOC Refining
The operation, which will cost the company approximately $3.24bn, represents a 35% increase in Eni’s refining capacity