The firm’s participation will be its first since a division rebrand
KROHNE Group, a process instrumentation manufacturer, announced that it would take part in the Oman Petroleum and Energy Show, held in Muscat, Oman, later this month. The company will join its Oman-based partner ACS to showcase their latest products and solutions, and will be KROHNE’s first event since it branded one of its divisions as […]
Kamal Al-Sawi, President, Kuwait Energy Egypt discusses the role that the North African country can play as an energy hub on the sidelines of EGYPS 2022
Can you talk to me about Kuwait Energy Egypt’s role inside the Egyptian energy ecosystem as the country seeks its aspirations of becoming a regional energy hub? From the investment and the commercial side of business we are actually very active in our investment in Egypt since inception. We were one of the first companies […]
Sanctions cause commodity prices to surge and equities to sink as economic fears increase
Non-energy sanctions have already taken effect on the Russian supply of oil, with reduced supplies, leading to further price spikes and volatility, the International Energy Forum (IEF) said on Monday. Data on exports from Russia’s hubs in the Baltics and the Black Sea have indicated that demand for the country’s oil has disappeared as the […]
We live in a unique time when the interests of business and sustainability no longer contradict each other
Over the past decade, industrial companies have taken a leap forward in their sustainable development. We live in a unique time when the interests of business and sustainability no longer contradict each other. This has been made possible because businesses have found ways to turn environmental performance into business opportunities. Severstal’s long-term priorities are to […]
BP aims to generate earnings of $9-10bn by 2030 driven by businesses from bioenergy, convenience, electrification, renewables and hydrogen.
British multinational company BP has announced its annual financial results, reporting underlying replacement cost profit, a proxy for net profit, of $12.8bn for 2021, its highest in eight years, compared to a loss of $5.69bn during 2020. The firm’s underlying profit for Q4 2021 was $4.1bn, up 24 percent quarter-on-quarter, compared with $3.3bn in Q3 […]
The contract’s scope includes 13 normally unmanned wellhead platforms topsides, as well as pipelines, beach valve stations and buildings
QatarEnergy announced Monday that it had awarded a major engineering, procurement, construction, and installation contract to McDermott Middle East for the offshore scope of its North Field Expansion Project. The North Field Expansion Project will increase Qatar’s liquefied natural gas (LNG) production capacity significantly, from 77 million tons per annum to 126 million tons per […]
NOCs must not only understand the latest challenges at hand but also ensure they evolve to endure – something achievable through holistic strategy and technology deployment
With the Middle East demonstrating an unrelenting willingness to combat the climate crisis and make further progress en route to a sustainable future, the immediate future demands anticipation and action in equal measure. While roadmaps have already been established to meet related objectives, the wider energy system is continuously changing in times of disruption and […]
The company's net income rose 158% year-on-year in Q3 2021
Aramco’s net income for Q3 2021 rose 158% year-on-year (yoy) to $30.4 billion and the company declared a dividend of $18.8 billion to be paid in the fourth quarter. The increase in net income was primarily the result of higher crude oil prices and volumes sold and stronger refining and chemicals margins in Q3, which […]
The second day of the 5th Anniversary Future Investment Initiative (FII), which kicked off in Riyadh on Tuesday with world leaders, global CEOs, investors, and policymakers in attendance, saw another day of lively debate and discussions including the impact of climate change, investing in green initiatives, ESG and sustainable food security and their influence on […]
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 […]
