Category Archives: News


Egypt Aims to Cut Arrears Owed to Foreign Oil Firms to $2.5B in 2015

September 10, 2015

Egypt paid foreign oil companies $600 million in arrears in August and still owes them $2.9 billion, the petroleum minister told Reuters on Wednesday. Sherif Ismail also said Egypt aims to lower the amount of arrears it owes foreign oil companies to $2.5 billion by the end of 2015. Delays in paying back foreign companies had discouraged investment… Continue Reading »


Syrian Army, Islamic State Battle for Central Oilfield

September 9, 2015

Islamic State fighters battled government forces on Tuesday at central Syria’s Jazal oilfield, the last such facility still partly under state control, a group monitoring the conflict reported. Clashes broke out at dawn at the site which has been shut down by several days of fighting, Rami Abdulrahman, from the Britain-based Syrian Observatory for Human Rights, said. The… Continue Reading »


Heerema Gets Another Culzean Project

September 5, 2015

Heerema Fabrication Group (HFG) has been awarded the Engineering, Procurement & Construction contract from Maersk Oil North Sea UK for the Culzean jackets for both the central processing facilities platform and the utility & living quarter platform. This contract is the second HFG has won for the Culzean project. On October 21, 2014 the Procurement… Continue Reading »


Saudi Stocks Cap Worst Month in Seven Years as Oil Resumes Slide

September 2, 2015

Saudi Arabian stocks fell in the worst month in almost seven years after Brent crude resumed its decline. The Tadawul All Share Index fell 2.2 percent on Monday, the most among the Middle East’s major equity gauges, to 7,522.47. That extends the Tadawul’s drop to 17 percent in August, the most in a month since October… Continue Reading »


Car Bomb Damages Italy’s ENI Joint Venture in Libyan Capital

September 1, 2015

A car bomb went off in Libya’s capital Tripoli on Monday in front of the headquarters of Mellitah, an oil and gas joint venture between Italy’s ENI and Libyan state oil firm NOC, witnesses said. Residents said there were no casualties. A Reuters reporter said there were smashed windows and damaged doors. In a text… Continue Reading »


More Oilfield Services M&A Likely On The Way

August 31, 2015

Whether finally seduced by the relief a merger can usher in or surrendering to the security of making a joint venture permanent, the more distressed companies in the oil patch are de-stressing themselves by succumbing to the safety that mergers and acquisitions (M&A) offer. As companies have readjusted to a world where $60 oil can… Continue Reading »

Login to your account

Can't remember your Password ?

Register for this site!