Middle East

Business , Markets

Aramco CEO Amin Nasser Fears of ‘Jobless Recovery’ for Oil Sector

The CEOs of oil giants Chevron and Saudi Aramco are optimistic about the future of oil and gas. Their biggest worry, however, is the return of jobs to the oil sector in the long-term.

March 5, 2021

Public Capital

Saudi Aramco Seeks Extension on $10 Billion Loan: Sources

Saudi Aramco’s profits plummeted last year, but it stuck to a promised $75 billion annual dividend, most of which goes to the Saudi government.

March 1, 2021

Field Development , Subsea

Lamprell Lands Aramco Contract for Giant Offshore Oil Field

Lamprell has been awarded an engineering, procurement, construction and installation (EPCI) contract on Feb. 24 by Saudi Aramco as part of their long-term agreement program (LTA) with Lamprell.

February 25, 2021

Acquisitions & Divestitures , Trends , Mergers

Energy A&D Transactions from the Week of Feb. 24, 2021

Here’s a snapshot of recent energy deals including a series of transactions in the Duvernay Shale as both Shell and Ovintiv exit the play plus Continental Resources reveals itself as the buyer of Samson Resources’ Powder River Basin position.

February 24, 2021

Obituaries , International

Former Saudi Oil Minister Yamani, Face of 1973 Oil Embargo, Dies

Known for his elegant manner and trademark goatee, Sheikh Zaki Yamani’s 24-year tenure running the oil affairs of the world’s biggest producer made him a global celebrity during the inflationary “oil shocks” of the 1970s.

February 23, 2021

Crude Oil , Trade , International

Russia, Saudi Arabia At Odds over Oil Cuts Ahead of OPEC+ Meeting: Reports

Key questions for the OPEC+ meeting will be whether Saudi Arabia rolls back its voluntary cut of 1 million bbl/d and whether there is room for an additional increase in supply from the whole oil producer group.

February 22, 2021

Exploration & Production , Digital Oilfield

Schlumberger, Egyptian Ministry of Petroleum Launch ‘Egypt Upstream Gateway’ Platform

Egypt is in the process of launching the Egypt Upstream Gateway, a digital subsurface platform that will act as an up-to-date repository of the country’s subsurface data, says H.E. Eng. Tarek El-Molla, Egypt’s minister of petroleum and mineral resource.

February 18, 2021

Acquisitions & Divestitures , Trends , Mergers

Energy A&D Transactions from the Week of Feb. 10, 2021

Here’s a snapshot of recent energy deals including Northern Oil and Gas’ expansion into the Marcellus Shale with a $250 million acquisition from India’s Reliance plus Japanese trading house Sumitomo’s U.S. shale exit.

February 10, 2021

Business , Technology , Acquisitions & Divestitures

SNC-Lavalin Sells Oil and Gas Unit to Blue Water-backed Firm

Energy services firm Kentech expects the acquisition of SNC-Lavalin’s oil and gas business to accelerate its revenue growth to $1 billion on a pro forma basis by the end of 2021.

February 9, 2021

Investment , Liquefied Natural Gas (LNG) , Technology

Qatar Petroleum Signs Deal for Mega-LNG Expansion

The expansion, which will take Qatar’s LNG production capacity to 110 mtpa from 77 million mtpa, is the largest single LNG project ever to be sanctioned, according to consultancy Wood Mackenzie.

February 9, 2021