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OIL AND GAS

Bulgaria signs up Saudi-led group for TurkStream gas pipeline extension
September 19, 2019

SOFIA: Bulgaria’s state gas company signed a €1.1 billion ($1.2 billion) contract on Wednesday with Saudi-led group Arkad to build a gas pipeline to carry mainly Russian natural gas.

The Balkan country is rushing to build the 474 km pipeline linking its southern border with Turkey to its western border with Serbia to secure a link to the Russian-backed TurkStream pipeline to"...

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Aramco completes acquisition of Sasref refinery for $631m
September 19, 2019

Saudi Aramco on Wednesday said it has completed the acquisition of Royal Dutch Shell’s 50 per cent stake in the Sasref refining joint venture for $631 million (Dh2.3 billion), taking complete ownership of the facility.

“The acquisition supports Saudi Aramco’s plan to increase the complexity and capacity of its refineries, as part of its long term downstream growth strategy,”"...

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Saudi-led group reinstated as builder of Bulgaria gas pipeline
September 17, 2019

SOFIA: A Saudi-led consortium was definitively reinstated on Monday as the builder of a new gas pipeline through Bulgaria, intended to hook up to Gazprom’s TurkStream project.
Bulgaria’s Supreme Administrative Court announced Monday that the Saudi-led group’s main competitors for the project had dropped a legal challenge relating to the award.
The latest development brings to an end a long-running tussle between the Saudi-led consortium"...

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Gross output of water, wastewater, electricity sector amounts to AED55.8 bn in 2018
September 17, 2019

Saudi Arabia has sufficient crude stockpiles to meet shortages for over three months, if needed, analysts say, as the world's largest oil exporter sees an uphill task to bring more than half of its output back online.

On Saturday, multiple drone attacks halted production of 5.7 million barrels per day (bpd), or more than half of Saudi Arabia's output, with the kingdom drawing on"...

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Saudi Arabia on track to partly restore oil output as market quakes
September 17, 2019

Saudi Arabia is believed to be on track to quickly restore at least a third of its oil production lost to devastating attacks, as it scrambles to soothe market jitters ahead of a mega stock listing.

Oil prices rocketed on Monday after the strikes on Abqaiq –- the world's largest oil processing facility –- and the Khurais oil field in eastern Saudi Arabia knocked out nearly"...

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SNC-Lavalin Awarded Oil and Gas Contract from Al Yasat Petroleum, United Arab Emirates
September 17, 2019

SNC-Lavalin announces that it has been awarded a general engineering, project management and technical support services contract from Al Yasat Petroleum, a joint venture between Abu Dhabi National Oil Company (ADNOC) and China National Petroleum Corporation (CNPC), with an estimated value of approximately $52 million CAD.

Under the three-year agreement,"...

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Drones spark fires at two Saudi Aramco oil facilities
September 15, 2019

Drone attacks sparked fires at two Saudi Aramco oil facilities early Saturday, the interior ministry said, in the latest assault on the state-owned energy giant as it prepares for a much-anticipated stock listing.

There was no immediate claim of responsibility for the attacks on Abqaiq and Khurais, two major Aramco facilities in eastern Saudi Arabia, but it follows a spike in regional tensions"...

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Saudi University takes part in World Energy Congress
September 14, 2019

ABU DHABI: King Abdul Aziz City for Science and Technology (KACST) concluded its participation in the 24th World Energy Congress, which was held on Sept. 9-12 at Abu Dhabi National Exhibition Centre.
Under the supervision of the Saudi Energy Ministry, government institutions and energy companies also participated in the congress.
Using interactive screens, KACST showcased its efforts to support and market innovation through various programs.
It"...

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Aramco, Adnoc open research centre in UK
September 14, 2019

Saudi Aramco Technologies Company (AramcoTech), and the Abu Dhabi National Oil Company (Adnoc) have opened a Nonmetallic Innovation Center (NIC) in the UK — a research center focused advancing the use of nonmetallic industrial applications.

The launch of NIC will play an important role in advancing nonmetallic solutions across industries. The center is based at TWI in Cambridge and will develop technologies for new nonmetallic pipeline solutions....

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Aramco CEO in call for ‘ultra clean energy’
September 11, 2019

ABU DHABI: There is no limit to the oil industry’s potential if it can meet society’s demand for “ultra clean” energy, Amin Nasser, the president and chief executive of Saudi Aramco, told delegates at the World Energy Congress in Abu Dhabi.

“The world faces an incredible climate challenge and we need a bold response to match. In my view, that means the entire"...

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