Arabian Industry - Oil & Gas Guide to Middle East industry news and tenders. Includes Construction, Hospitality, Aviation, Technology, Oil, Gas, Travel, Supply Chain, Utilities, Comms, and Petrochemicals information as well as live market data. Gulf business events, information, photos and data for Saudi, UAE, Qatar, Kuwait, Bahrain and more. Wed, 08 Jul 2020 07:50:19 +0400 Arabian Industry - Oil & Gas 144 16 en ITP Digital Ltd. 2020 (webmaster) Wed, 08 Jul 2020 07:50:19 +0400 20 Webinar: Has the market crisis forced oil and gas to its digital tipping point? Oil & Gas Middle East introduces its webinar on the renewed urgency for digital transformation in the oil and gas sector, and how it can fuel the industry’s resilience and crisis recovery. Register to attend now! News | Oil & Gas Tue, 07 Jul 2020 10:30:30 +0400 Oman signs exploration agreement for Block 58 with Sweden's Tethys Oil The first phase of exploration will involve a 3D seismic survey and two exploration wells News | Oil & Gas Mon, 06 Jul 2020 10:45:00 +0400 Modelling a second Covid-19 wave: Oil demand in 2020 could lose another 2.5 million bpd North America (notably the lower US states), the Middle East and Southeast Asia will be hit relatively harder, Rystad Energy’s modelling shows News | Oil & Gas Sun, 05 Jul 2020 12:15:15 +0400 How GCC countries could re-calibrate their strategies due to low oil prices: Deloitte A report by Deloitte outlines the possible responses that oil-dependent governments could take given low oil prices News | Oil & Gas Sat, 04 Jul 2020 01:00:45 +0400 Brooge Energy reports record revenue of $44 million Storage became a serious issue as demand plummeted due to the coronavirus pandemic News | Oil & Gas Fri, 03 Jul 2020 10:15:00 +0400 Half-year discoveries total 4.9 billion boe, lowest of the century The resource volumes were 42% lower and the number of discoveries was down by 31% compared to the same period in 2019 News | Oil & Gas Thu, 02 Jul 2020 10:15:30 +0400 New gas discovery in the Mediterranean Sea offshore Egypt Eni, BP and Total have successfully drilled the first exploration well in the North El Hammad license News | Oil & Gas Wed, 01 Jul 2020 04:00:30 +0400 Saudi Aramco CEO says the 'worst is behind us' for oil markets Amin Nasser is optimistic about the second half of the year, and credited IKTVA and previous attacks on Aramco helped it build resilience before the pandemic News | Oil & Gas Wed, 01 Jul 2020 11:30:30 +0400 ADNOC to shut down Bab oil field for maintenance The onshore oil field produces more than 370,000 barrels per day News | Oil & Gas Tue, 30 Jun 2020 10:00:30 +0400 Iran launches pipeline project bypassing Strait of Hormuz Iranian President Hassan Rouhani called it a strategic prorject News | Oil & Gas Tue, 30 Jun 2020 09:30:15 +0400 OPEC fund approved $243 million to support developing countries $163 million will go to the public sector, and $80 million to private sector operations News | Oil & Gas Mon, 29 Jun 2020 12:45:00 +0400 For smart time control applications NFC communication and the smartphone app provide further setting options, such as the simultaneous configuration of several devices. News | Oil & Gas Sun, 28 Jun 2020 02:01:32 +0400 Ghazeer field '99% ready' for start of production: BP Oman chief The project consists of 500 million cubic feet of gas News | Oil & Gas Sun, 28 Jun 2020 10:30:00 +0400 Global gas output set to fall by 2.6% in 2020, associated gas to take the hardest hit The biggest drop in associated gas production will be felt in North America News | Oil & Gas Sun, 28 Jun 2020 10:15:45 +0400 Most COVID-19 impacted midsize US oil operators have primarily liquid-rich operations Primary commodity type determines level of impact by the crisis on US midsize companies’ operations, GlobalData says News | Oil & Gas Sat, 27 Jun 2020 10:30:15 +0400 Rockwell Automation appoints new managing director for Sub-Saharan Africa Contributing her strong industry expertise in mining, minerals, metals, power, energy, and oil & gas, Canninah Mapena has been appointed as the Managing Director of Rockwell Automation in Sub-Saharan Africa. News | Oil & Gas Fri, 26 Jun 2020 10:30:00 +0400 Azelio signs a MoU with Trimark Associates in the US for energy storage projects across North America In addition to this MoU, the parties anticipate an extended project pipeline once the first projects are initiated. News | Oil & Gas Thu, 25 Jun 2020 10:15:00 +0400 OPEC compliance reached 87% in May 2020 GCC nations made additional cuts to help boost compliance News | Oil & Gas Wed, 24 Jun 2020 10:45:30 +0400 ADNOC announces $20.7 billion pipeline investment deal The company says that the transaction will result in upfront proceeds of over $10 billion to ADNOC News | Oil & Gas Tue, 23 Jun 2020 02:45:15 +0400 Tendeka awarded five-year contract extension with Oman operator The multi-million-dollar contract extends a long-term partnership originally established in 2002 News | Oil & Gas Mon, 22 Jun 2020 12:45:15 +0400 Global OFS demand set for 25% drop in 2020, slow recovery to start in 2021 The recovery will accelerate further in 2022 and 2023 but will not reach pre-coronavirus purchasing amounts News | Oil & Gas Mon, 22 Jun 2020 12:15:30 +0400 Lowering oil & gas price assumptions an important lever towards cleaner investment for BP BP announced that it is revising its long-term price assumptions News | Oil & Gas Sun, 21 Jun 2020 11:45:00 +0400 Schlumberger announces technology license agreement with CNPC Logging Agreement will enable co-manufacture of wireline downhole technology News | Oil & Gas Sat, 20 Jun 2020 11:45:30 +0400 The changing face of cybercrime Trend Micro details changing tactics and global demand for new malicious services like Deepfake ransomware and AI bots News | Oil & Gas Thu, 18 Jun 2020 11:45:45 +0400 Security routers: protect industrial networks easily The security routers of the FL MGuard 1000 series extend the range for protecting industrial networks. News | Oil & Gas Thu, 18 Jun 2020 04:00:00 +0400 Narrow protection for sensitive measurements The new products with the four-conductor protective circuit can be used News | Oil & Gas Wed, 17 Jun 2020 04:00:00 +0400 Saudi Aramco completes SABIC acquisition The national oil company purchased 2.1 billion shares of SABIC News | Oil & Gas Tue, 16 Jun 2020 12:00:30 +0400 Kuwait Petroleum Corporation to ban recruitment of expat through 2021 KPC and its subsidiaries will stop recruiting non-Kuwaitis, the minister of oil said News | Oil & Gas Mon, 15 Jun 2020 10:15:30 +0400 ADNOC to host virtual roundtable roundtable with global energy leaders Leading energy companies will discuss the future for oil and gas after the pandemic, and will share best practices News | Oil & Gas Mon, 15 Jun 2020 10:00:45 +0400 Global upstream investments set for 15-year low, falling to $383 billion in 2020 With 2019’s upstream investments calculated at $539 billion, the decline is set to bring annual investment to a level lower than that of the previous downturn News | Oil & Gas Mon, 15 Jun 2020 09:45:45 +0400 KOC accident kills one worker, injures another The accident was caused by the ignition of gases during drilling operations at Al-Sabriya Refinery News | Oil & Gas Mon, 15 Jun 2020 09:45:30 +0400 PTC Extends Alliances with Rockwell Automation and Microsoft Introducing Factory Insights as a Service Offering for Industrial Enterprises News | Oil & Gas Sun, 14 Jun 2020 09:00:15 +0400 Libya declares force majeure on Sharara oil field once again The national oil company had resumed productiton only three days prior News | Oil & Gas Fri, 12 Jun 2020 08:45:15 +0400 KOC awards $3.57 million pipeline contract to HEISCO The project will be implemented over a period of eight months News | Oil & Gas Thu, 11 Jun 2020 08:45:45 +0400 Fresh OPEC+ cuts point to crude and condensate supply deficits through 2021 The last surplus month appears to have been May News | Oil & Gas Tue, 09 Jun 2020 11:45:30 +0400 MENA LNG companies likely to put off upcoming projects due to economic slowdown The cascading impact of global LNG supply overhang coupled with reduced demand may lead companies to withhold or delay their capital spends on upcoming multi-billion-dollar gas projects, says GlobalData News | Oil & Gas Tue, 09 Jun 2020 11:30:45 +0400 Oil and gas companies are gravitating towards sustainability practices, says GlobalData Large oil and gas corporations have undertaken social welfare activities as per their individual CSR portfolios News | Oil & Gas Mon, 08 Jun 2020 02:30:45 +0400 Bentley Systems acquires voice-based automation company NoteVault NoteVault’s reporting automation solutions are used by both large and small construction companies across the global ENR Top 400 Contractors News | Oil & Gas Mon, 08 Jun 2020 01:00:45 +0400 OGTC appoints Martin Gilbert as chair He succeeds Archie Kennedy, who has been part of the OGTC Board since the organisation’s inception in 2017 News | Oil & Gas Sun, 07 Jun 2020 02:30:30 +0400 COVID-19 pandemic curtails the investment wave in petrochemical industry, says GlobalData COVID-19 pandemic curtails the investment wave in petrochemical industry, says GlobalData News | Oil & Gas Sat, 06 Jun 2020 02:15:30 +0400 Honeywell opens gas detector factory in Saudi Arabia oneywell becomes the first international company to produce industrial gas detectors in Saudi Arabia News | Oil & Gas Fri, 05 Jun 2020 01:30:00 +0400 ADNOC Distribution opens 16 new sites in 2020 Five new ‘ADNOC On the go’ stations open in Abu Dhabi in May, with 10 now open across Abu Dhabi and Al Ain in 2020 to date News | Oil & Gas Thu, 04 Jun 2020 12:45:45 +0400 OPEC president calls for earlier meeting He has proposed moving the OPEC meeting a few days earlier, and spoke to members about the impact of low conformity News | Oil & Gas Tue, 02 Jun 2020 03:30:00 +0400 KIZAD breaks ground on largest rest, refuelling facility in region Truck Plaza to include dedicated ADNOC Distribution service station, parking bays, mosque and restaurants News | Oil & Gas Tue, 02 Jun 2020 09:30:00 +0400 Petrofac secures Iraq contract extension with Basra Oil Company The extension is for BOC's long-standing Iraq Crude Oil Export Expansion Project News | Oil & Gas Mon, 01 Jun 2020 03:00:30 +0400 OPEC supply cut compliance at 74% in May While Saudi Arabia and other Gulf countries made additional cuts to their production, some nations lagged behind on their commitments News | Oil & Gas Mon, 01 Jun 2020 10:30:45 +0400 US tops upstream oil & gas CO2 emitters list Canada had the highest CO2 emission intensity per barrel of oil equivalent, and Norway had the lowest News | Oil & Gas Sun, 31 May 2020 05:45:45 +0400 Coronavirus is causing the biggest fall in global energy investment in history: IEA Impacts are being felt across the energy world, from fuel and power supply to efficiency, with serious implications for energy security and clean energy transitions News | Oil & Gas Wed, 27 May 2020 03:45:45 +0400 Implement new machine concepts flexibly and fast Modular safety system up to PL e/SIL 3 News | Oil & Gas Wed, 27 May 2020 01:11:59 +0400 Saudi Arabia and Iraq will cooperate to balance oil market Foreign Minister Faisal bin Farhan noted a desire to reinstate the Saudi ambassador to Iraq as soon as possible News | Oil & Gas Mon, 25 May 2020 11:00:45 +0400 Saudi and Kuwait to halt neutral zone production in June The countries will stop production for a month as part of measures to reduce oil output News | Oil & Gas Sun, 24 May 2020 11:30:30 +0400 Global oil & gas decommissioning costs to total $42 billion through 2024 Some of the leading assets that will drive the decommissioning market in the region include the Brent, Ninian and Thistle fields in the UK and Gyda in Norway News | Oil & Gas Sat, 23 May 2020 04:30:15 +0400 Decarbonising the global energy trade Lux Research examines these renewable energy carriers and the countries and companies developing them. News | Oil & Gas Fri, 22 May 2020 04:30:45 +0400 Surge protection in main power distribution systems <p>Correct Installation of Protective Devices Avoids Liability Risks</p> News | Oil & Gas Thu, 21 May 2020 04:00:00 +0400 Secure communication with OPC UA Currently focused on local applications News | Oil & Gas Thu, 21 May 2020 01:13:13 +0400 SNOC awards EPIC contract to Lamprell Scheduled for completion in early 2021, Lamprell's scope of work is specific to the Mahani Extended Well Test project News | Oil & Gas Thu, 21 May 2020 11:15:45 +0400 ExtraHop introduces Reveal(x) 360 for unified threat visibility and control across on-premises, cloud, and IoT SaaS-based network detection & response built for the modern enterprise with cloud-scale machine learning, hybrid visibility, and on-demand consumption News | Oil & Gas Wed, 20 May 2020 01:45:15 +0400 KSA-based seismic solutions company ARGAS targets global expansion The agreement waives all territorial, technical, commercial exclusivities and any other restrictions previously in place News | Oil & Gas Wed, 20 May 2020 01:30:15 +0400 Global demand for natural gas will drop 2% in 2020 as COVID-19 lockdowns take toll Rystad Energy expects global gas demand to total close to 3,878 billion cubic meters (Bcm) in 2020, down from 3,951 Bcm last year News | Oil & Gas Tue, 19 May 2020 02:15:45 +0400 PDO pledge to continue with renewables despite GlassPoint liquidation GlassPoint Solar was a technology company working with PDO on renewable-powered enhanced oil recovery News | Oil & Gas Tue, 19 May 2020 10:15:45 +0400 BAPCO expansion 50% complete: Bahrain oil minister The project is set for completion in the third quarter of 2022 News | Oil & Gas Mon, 18 May 2020 12:00:45 +0400 Too much LNG: Here are the producers better positioned to cut output as Covid-19 erases profits LNG producers with short-run marginal costs that exceed spot prices are increasingly looking to curtail production News | Oil & Gas Sun, 17 May 2020 01:30:00 +0400 OFS stocks lost half their value since 2020 began The best performers among services companies were in the EPCI sector News | Oil & Gas Sun, 17 May 2020 11:30:30 +0400 COVID-19 triggers delays in projects and investment decisions in global LNG liquefaction sector LNG developers have started relooking at their strategies and capex plans for 2020 News | Oil & Gas Sat, 16 May 2020 01:15:15 +0400 Kuwait to voluntarily cut 80,000 bpd in June It is one of several Gulf nations making additionals cuts to production to help balance the market News | Oil & Gas Thu, 14 May 2020 02:00:00 +0400 UAE to cut output by 100,000 bpd in June It is backing Saudi Arabia in a move to stabilise energy markets News | Oil & Gas Wed, 13 May 2020 01:45:15 +0400 ADNOC Distribution Q1 net profit drops 30% Profit dropped by 30.9% compared to the previous year News | Oil & Gas Wed, 13 May 2020 10:30:45 +0400 Saudi Aramco's profit plunges 25% on coronavirus pandemic The companys income dipped to $16.6 billion for Q1 2020 News | Oil & Gas Tue, 12 May 2020 03:15:30 +0400 Bahrain awarded tenders worth $4.9 billion in 2019 More than $740 million in value of bids awarded in Q1 of 2020 News | Oil & Gas Tue, 12 May 2020 09:45:45 +0400 Shareholders prioritized as big oil’s first quarter earnings slump, says GlobalData Lower demand and lower oil prices resulted in weak first quarter results for major international oil and gas companies News | Oil & Gas Mon, 11 May 2020 01:45:15 +0400 Saudi Aramco looks to restructure SABIC deal: Reuters Aramco agreed to buy a 70% stake in SABIC for $69.1 billion, now valued at around $40 billion News | Oil & Gas Mon, 11 May 2020 12:15:00 +0400 Global investment slowdown to hike oil prices and cause 5mbpd undersupply in 2025 Rystad Energy predicts the long-term impact of coronavirus on the oil and gas industry News | Oil & Gas Tue, 05 May 2020 09:45:45 +0400 Over $85bn of 2020 oil and gas expenditure erased Integrated oil and gas companies have reported the largest volume of capex reductions for 2020 News | Oil & Gas Tue, 05 May 2020 09:30:30 +0400 Middle East Energy Awards postponed Oil & Gas Middle East's flagship awards event, the Middle East Energy Awards, has been postponed from its previously set date of 30 June 2020 News | Oil & Gas Mon, 04 May 2020 03:30:00 +0400 LNG sector challenged by market conditions Depressed demand and falling oil and gas prices have challenged the global LNG sector, GlobalData says News | Oil & Gas Mon, 04 May 2020 09:45:15 +0400 Oil glut to halve in May and shrink to 6mbpd in June: Rystad Despite the improvement, the stock build will still overwhelm remaining global storage, which will fill in weeks. News | Oil & Gas Sun, 03 May 2020 12:30:30 +0400 Q1 oil industry results reaffirm industry instability, says GlobalData After major oil and gas companies released their Q1 results, GlobalData comments on market instability News | Oil & Gas Sun, 03 May 2020 11:00:30 +0400 Engineers learn from home, strengthen skills for current and post-COVID-19 pandemic workplace ASME brings flexible, affordable and applicable virtual training solutions to engineers everywhere News | Oil & Gas Sat, 02 May 2020 01:15:15 +0400 DNV GL approves carbon capture technology Gassnova, the Norwegian state’s agency for implementation of carbon capture and storage projects, initiated the project which will apply carbon capture technology developed by Aker Solutions at Norcem’s cement plant in Brevik, Norway News | Oil & Gas Fri, 01 May 2020 01:15:15 +0400 Abu Dhabi Ports establishes COVID-19 testing facilities at Zayed Port and Khalifa Port Constructed in less than 24 hours, the Facilities Have the Capacity to Process up to 700 Tests Daily News | Oil & Gas Thu, 30 Apr 2020 12:15:45 +0400 Rystad expects US to shut in 300,000 bpd in May and June It is unclear how much of this is due to the Covid-19 pandemic and the related drop in demand News | Oil & Gas Wed, 29 Apr 2020 01:15:45 +0400 APICORP launches $500 million coronavirus recovery support package for member countries The $500 million package will be deployed to support sustainable impact-driven projects by extending funding for projects and working capital within the areas of utilities, renewables, petrochemicals, amongst other energy sub-sectors News | Oil & Gas Wed, 29 Apr 2020 11:15:15 +0400 Olis Robotics partners with Aleron Subsea for machine learning and teleoperation in ROV market Partnership accelerates commercial traction to retrofit existing ROV systems with advanced software products as an operating expense cost saving product with minimal capital expenditure News | Oil & Gas Tue, 28 Apr 2020 01:30:00 +0400 DNV GL leads global pilot to secure greater value from digital twins Digital twins can significantly enhance efficiency and reduce cost, but oil and gas operators are increasingly demanding proof that they can be trusted and deliver value over time News | Oil & Gas Mon, 27 Apr 2020 10:30:15 +0400 Cloud-hosted simulator allows drillers to train from home Drilling Systems launched a web-based version of its well control simulation software to aid workers during the coronavirus pandemic News | Oil & Gas Sun, 26 Apr 2020 02:15:00 +0400 Saudi Arabia and Kuwait start cutting oil output ahead of schedule The two nations acted prior to the May 1 deadline set by OPEC+ News | Oil & Gas Sun, 26 Apr 2020 02:00:45 +0400 OCTG market to drop 15% in 2020: Rystad The US represents the world’s largest OCTG market, but this year the country is seeing an immediate and severe drop in OCTG tonnage requirements News | Oil & Gas Sat, 25 Apr 2020 10:45:45 +0400 ExtraHop and SANS Institute find gaps in security visibility during shift to remote work Two-Thirds of organizations have suffered a successful attack in the past 12 months, while almost half identified employee desktops as the most likely entry point for cyber criminals News | Oil & Gas Fri, 24 Apr 2020 10:30:30 +0400 Most Gulf Cooperation Council IPO aspirations in doubt due to COVID-19 impact, says GlobalData After Saudi Aramco's initial public offering, other countries in the GCC have expressed the possibility of an IPO News | Oil & Gas Wed, 22 Apr 2020 10:45:00 +0400 Measures to contain COVID-19 outbreak weaken Indian LNG demand: GlobalData The drop in industrial and domestic gas consumption in India has led to a drop in demand News | Oil & Gas Wed, 22 Apr 2020 10:15:15 +0400 Canada, Iraq and Venezuela lead production shut down: Rystad Globally, at least 1.9 million barrels per day of oil production have been shut down in April News | Oil & Gas Tue, 21 Apr 2020 09:15:15 +0400 US oil price returns to above zero after hitting -$37 low Demand for oil has crashed due to the coronavirus pandemic News | Oil & Gas Tue, 21 Apr 2020 09:00:00 +0400 ADNOC cancels $1.65 billion Dalma contracts Dalma is part of the Ghasha ultra-sour gas concession, a major component of ADNOC's gas self-sufficiency plan News | Oil & Gas Mon, 20 Apr 2020 03:15:45 +0400 Global oil demand to hit 25-year low in April, IEA says The IEA expects the market to start recovering in the second half of the year if restrictions are lifted News | Oil & Gas Mon, 20 Apr 2020 09:30:00 +0400 Indian refiners forced to issue force majeure notices: GlobalData The lockdown in India has resulted in a sharp drop in fuel demand, forcing refiners to operate at lower capacities News | Oil & Gas Sun, 19 Apr 2020 10:45:30 +0400 Galfar reportedly wins $24 million PDO contract The project should be completed by March next year News | Oil & Gas Sat, 18 Apr 2020 01:00:30 +0400 Oil and gas outsourcing services for asset health and performance monitoring Third-party services can address the scope of different OEM assets in a single contract News | Oil & Gas Fri, 17 Apr 2020 12:45:00 +0400 Geolog to acquire Nabors US mudlogging assets Geolog has logged over 300 wells in the US since 2014 News | Oil & Gas Thu, 16 Apr 2020 04:30:00 +0400 Customer-specific and holistic implementation <p>Designing an automation solution under security aspects according to IEC&nbsp;62443</p> News | Oil & Gas Thu, 16 Apr 2020 12:55:09 +0400 APICORP reports $112 million net income for 2019 Its net recurring income increased by 17% compared to the previous year News | Oil & Gas Wed, 15 Apr 2020 10:15:45 +0400