Features
Iraq targets Asian markets

Somo will seek to sign joint ventures with companies from China, India, Japan and South Korea to help target Asian marketsThe head of Iraq’s state-oil marketer Somo said that Iraq will seek to corner a greater share of Asian markets through a new joint venture strategy.At a Somo event in Baghdad, Alaa Al-Yasiri announced that Somo will seek to sign joint ventures with companies from China, India, Japan and South Korea to help target Asian markets.'We are aiming to win a greater share of the...

Iran inches closer to sufficiency dream

Iran has sharply reduced its gasoline imports in recent weeks after starting up a new refinery...

In Brief

PetroChina wins stakesABU DHABI: Abu Dhabi National Oil Company (Adnoc) said it had signed 40-year...



New high in Opec cut compliance

Compliance with a global deal to cut oil supply hit a new high in February and an inventory glut is shrinking fast, a joint Opec and non-Opec committee said, bringing producers close to the pact’s original aim.Opec and its allies achieved 138 per cent of pledged output reductions last month, Opec said, up from 133 per cent in January and the highest since the deal aimed at clearing a glut began in January 2017.The Organization of the Petroleum Exporting Countries, Russia and other non-Opec...



Drillers give tepid response to record US offshore sale

Oil and gas drillers bid on only a tiny fraction of Gulf of Mexico acreage offered in the largest lease sale in American history, a setback to the Trump administration’s efforts to rapidly pump up investment in the region.The Interior Department had offered up a record 77 million acres (31.2 million hectares) for development in the Gulf - an area twice the size of Florida - with discounted royalty rates on the shallower tracts as part of a broader effort by President Donald Trump to ramp up...

PTTEP seeks to boost reserves, output

Thailand’s PTT Exploration and Production (PTTEP) is looking closer to home for upstream oil and gas...

US refiners buy summer-grade

US refiners have switched to making summer-grade gasoline earlier than usual as profit margins to...



Capex plan gets boost

The 25 per cent boost in spending to $414 billion comes as Saudi Aramco prepares for its much-anticipated initial public offering (IPO), which Saudi officials still say will happen in the second half of 2018State-owned oil giant Saudi Aramco plans to boost its 10–year spending plan by about 25 per cent to $414 billion as the firm expands its activities beyond oil and gas, an official presentation by a senior Aramco executive showed.The boost in spending comes as Aramco prepares for its much-...

Bauer targets other sectors to ride slump

Whilst the recent challenges of the oil and gas sector in the Middle East region has had an impact...

AYTB’s Industrial Services division becomes leader

Recently AYTB successfully executed the first turnaround 2018 for Satorp at its process units’ bloc...

How VAT will hit oil and gas firms in the region?

The UAE has zero-rated the supply of crude oil and natural gas. The Saudi regulations are silent on...

TUV Nord wins through cost cutting and planning

While it cannot change the market the company can change its own efficiency and effectiveness in...

Precision is the key

Besides its speed and accuracy, the FARO Focus laser scanner is known for its minimal...

AMC powers the growing Saudi industrial market

With 10,000 sq m of covered warehouse space and 5,000 sq m of paved storage area in each of its...

AMA-SMD delivers PRM for BLNG

Under a subcontract from GS Engineering & Construction, the main contractor, AMA-SMD is carrying...

Sabic output hit by turnarounds

The company which is looking develop its speciality chemicals business to diversify revenue streams...



Bilfinger strongly pushes for efficiency, value creation

Known for its innovative life cycle solutions, the company, a leading global player in engineering and process plant services, considers Saudi Arabia a key focus area in the Middle East region...




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