Qatar changed the name of its state-owned oil and gas firm to Qatar Energy from Qatar Petroleum to reflect what it said was a broader strategy but said it had no plans to sell assets to raise funds as other Gulf state producers have.'We have plenty of cash…
DP World's subsidiary Drydocks World Dubai has started converting an Aframax tanker capable of carrying 700,000 barrels of oil to a Floating Storage and Offloading Unit (FSO) for Dixstone, part of Perenco.As part of the extensive modification and life extension work at the FSO Pargo project…
British oil services company Petrofac was fined 77 million pounds ($105 million) on Monday and a former executive received a two-year suspended sentence after both pleaded guilty to bribery in Iraq, Saudi Arabia and the United Arab Emirates…
Qatar Petroleum has ordered four new LNG carriers from Hudong-Zhonghua Shipbuilding Group, a subsidiary of China's CSSC, as part of its North Field expansion project.'These four carriers are the first batch of orders in Qatar Petroleum’s massive LNG shipbuilding program…
ADNOC Drilling shares jumped more than 30% as the unit of Abu Dhabi oil giant ADNOC started trading on Sunday after its $1.1 billion initial public offering (IPO), the largest ever on the Abu Dhabi stock market.ADNOC Drilling, whose share offering attracted more than $34 billion in demand…
British oil services group Petrofac said it is looking at refinancing options including debt and fresh equity as it faces a possible $240 million fine from a London court.Petrofac decided to plead guilty to seven charges after a four-year Serious…
Qatar Petroleum has signed a long-term LNG sales deal with China's CNOOC Gas and Power Trading & Marketing Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC).QP will supply of 3.5 million tons per annum (MTPA) of LNG to CNOOC over a 15-year period starting January 2022…
State oil giant Abu Dhabi National Oil Co (ADNOC) has completed bookbuilding for the initial public offering (IPO) of ADNOC Drilling, raising more than $1.1 billion, it said on Monday.The offering was oversubscribed, with total gross demand amounting to more than $34 billion…
Bahrain's king issued a royal decree on Monday abolishing the National Oil and Gas Authority (NOGA), with all its functions to be undertaken by the oil ministry, the state-run Bahrain News Agency said.'All the financial appropriations allocated…
Oilfield services firm Petrofac's bribery case sentencing hearing has been postponed for Friday.As previously reported, Petrofac said Friday it would plead guilty to seven counts of failing to prevent former Petrofac group employees from offering…
State oil giant Abu Dhabi National Oil Co (ADNOC) has increased to 11% of share capital the size of the initial public offering (IPO) of its drilling unit, ADNOC Drilling, because of oversubscription, the firm said on Wednesday.ADNOC had previously targeted a minimum stake of 7…
Italian energy industry engineering and construction firm Saipem has signed a Memorandum of Understanding (MoU) with the Saudi oil giant Saudi Aramco to explore the possibility of forming a new entity for engineering and construction activities…
Lebanon's Prime Minister Najib Mikati has asked his foreign minister to seek clarification from the international community after Israel granted U.S. oilfield services group Halliburton an offshore drilling contract in the Mediterranean.Lebanon…
Saudi Arabia's national oil company Saudi Aramco has signed a memorandum of understanding with energy industry construction and installation firm McDermott to explore the use of McDermott's SAFIRA fabrication yard for construction services for Saudi Aramco's upstream and downstream projects…
Italy's Eni has teamed up with Mubadala Petroleum to look at joint investments in the energy transition field as part of plans to cut carbon footprints.In statements on Tuesday, the two groups said they had signed a memorandum of understanding…
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