Indian EPC giant L&T will bid for hydrocarbon orders worth $20 billion in the current fiscal year and hopes to convert 15% to 20% of bids into executable orders, Subramanian Sarma, whole-time director and senior executive vice president of Energy, told Moneycontrol. Sarma said L&T has a “strong order pipeline,” which gives the company a […]
oil and gas
Posted inEnergy Transition
Saudi Aramco, NEOM buy carbon credits at world’s largest auction
Saudi Aramco, the world’s largest oil firm, purchased the largest number of credits
Posted inNews
Qatar eyes $5 billion investment in Iraqi projects
Qatar plans to invest $5 billion in a number of sectors in Iraq over the coming years, Reuters reported, citing Qatari state news agency that cited quotes from Qatar’s Emir Sheikh Tamim bin Hamad al-Thani. The emir arrived in Iraq on an official visit where he signed memorandums of understanding (MOUs) to expand cooperation on […]
Posted inNews, Exploration & Production
Egypt to launch new bids for oil and gas exploration in 16 regions
Egypt plans to launch two new bids for oil and gas exploration in over 16 regions in the country’s south and the Red Sea by the end of 2023, according to media reports. Egypt extended the closing date for two previous bids to mid-July earlier this year, allowing more time for companies interested in exploring […]
Posted inNews
UAE: ADNOC, Kanoo Energy sign strategic manufacturing deals
ADNOC has signed three separate agreements with Kanoo Energy for manufacturing of valves, flanges and establishment of a reverse engineering facility in the UAE, Trade Arabia reported. The products are part of the $19 billion worth of products in ADNOC’s procurement pipeline that the firm identified for domestic manufacturing in July 2022. The agreements were […]
Posted inNews
Kuwait Oil Company awards $60 million contract to HEISCO
Kuwait Oil Company (KOC) has awarded a $59.8 million contract to Heavy Engineering Industries & Shipbuilding Co. (HEISCO), the latter announced in a statement. The scope of work is related to water facilities upgradation at KOC’s project locations, HEISCO noted. This year, Kuwaiti EPC contractor HEISCO has secured several multi-million contracts in the Middle East […]
Posted inNews
Weatherford awarded drilling contract from Saudi Aramco
Weatherford International has been awarded a three-year contract with Saudi oil giant Aramco to deliver drilling services, the company announced in a press release. Under the contract, Weatherford will deploy its Drilling Services portfolio, which includes a suite of technology that combines real-time information analysis and drilling tools to maximize efficiency. Deploying these service and technology offerings […]
Posted inNews
Contracting giants line up for ADNOC’s Ruwais LNG megaproject
Contractors have submitted technical bids to ADNOC Gas for its 9.6 mtpa LNG export terminal to be built in Ruwais. The two consortiums are Technip Energies/JGC Corp/National Petroleum Construction Co and McDermott/Saipem/Hyundai Engineering and Construction. The contract, which includes process facilities, flares and utilities, LNG storage tanks, an export jetty with bunkering, and other associated […]
Posted inNews
Aramco awards $7.2 million contract to Arabian Pipes
Dubai-headquartered Arabian Pipes Co was awarded a supply contract worth around $7.2 million by Saudi Aramco, according to a statement to Tadawul. According to the contract, Arabian Pipes will supply steel pipes to Saudi Aramco over a period of seven months. The pipe maker pointed out that the financial impact of the contract will show on Q1 […]
Posted inNews
Shell to keep oil production steady, CEO says
Shell will keep its oil output steady into 2030 ramp up its dividend and share buybacks as CEO Wael Sawan moved to regain investor confidence that wavered over its energy transition plan, Reuters reported. In a new financial framework announced ahead of an investor conference in New York, Shell said it will increase overall shareholder distribution to 30% […]
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