SLB Wins OQEP Contract for Oman’s Bisat-B Expansion
SLB has secured a contract from OQ Exploration and Production for the Bisat-B Expansion Production Facility in Oman.
McDermott Secures Major Subsea Contract for Cronos Gas Field
McDermott has secured a substantial subsea contract from Eni for the Cronos gas field development offshore Cyprus. Valued between US$500m and US$750m, the award marks the contractor’s first subsea project with the Italian operator in the Eastern Mediterranean. Under the agreement, McDermott will deliver project management, engineering, procurement and installation support. The work will be […]
ADIPEC 2026 To Mobilise Investment in Resilient, Intelligent Energy Systems That Power Global Growth
Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, in his capacity as Ruler of Abu Dhabi, ADIPEC 2026 will take place in Abu Dhabi from 2 to 5 November 2026 at ADNEC Centre Abu Dhabi. The event will…
ADNOC Advances Umm Shaif Expansion With US$1BN Offshore Contract
The Abu Dhabi National Oil Company (ADNOC) has awarded a mega engineering, procurement, construction and installation (EPCI) contract, valued at over US$1bn, to McDermott. The agreement covers Package 4 of the Umm Shaif Integrated Gas Cap and Surface Pressure Boosting project. As a central element of ADNOC’s Umm Shaif Long Term Development Plan, this strategic […]
SLB Secures Seven-Year Technology Contract With Kuwait Oil Company
Global energy technology firm SLB has been awarded a seven-year contract by Kuwait Oil Company (KOC) under the Ahmadi Innovation Valley (AIV) initiative. This agreement marks SLB as the first technology partner selected for KOC’s flagship programme, which aims to address strategic upstream technical challenges through collaboration across industry and academia. Under the contract, SLB […]
OPEC Launches World Oil Outlook 2026 and Sees Global Oil Demand Reaching 124 MB/D by 2050
The OPEC World Oil Outlook 2026 was launched today at the OPEC Secretariat in Vienna, Austria. First published in 2007, and now in its 20th edition, the Organization’s flagship annual publication offers valuable insights into the medium- and long-term prospects for the global oil and energy sectors. This year’s publication anticipates that the world will […]
Beyond Hormuz: The Energy Corridors Gulf Producers Are Actually Considering
For years, energy strategists have discussed the vulnerability of the Strait of Hormuz, the narrow maritime chokepoint through which a significant share of the world’s oil and LNG exports pass. Recent regional tensions have transformed what was once a theoretical concern into an urgent infrastructure challenge. As governments and national oil companies assess future risks, […]
Petrojet and Arkad Secure US$1.1bn EPCCS Contract For Hassi Bir Rekaiz
A consortium led by Egypt’s Petrojet, in partnership with Italy’s Arkad, has secured a US$1.1bn engineering, procurement, construction, commissioning and start-up (EPCCS) contract for phase two of Algeria’s Hassi Bir Rekaiz oilfield development. The award was granted by operators Sonatrach and PTTEP. Targeting completion within 39 months, the project scope encompasses a new central processing […]
BREAKING: Saudi Aramco Earnings Boosted 25–26% by Higher Crude Prices as Regional Tensions Shake Energy Markets
Saudi Aramco, the world’s largest oil company, reported a sharp rise in quarterly profits after surging crude prices and geopolitical tensions in the Middle East boosted revenues and strengthened demand for Saudi exports. The Saudi energy giant posted first-quarter 2026 net profits of roughly $32–33.6 billion, representing an increase of around 25–26% compared with the […]
Strategic Realignment: Why the UAE Is Recalibrating Its Role Beyond OPEC
The decision by the United Arab Emirates to distance itself from OPEC has prompted significant discussion across global energy markets. While the UAE has not framed its move as a rejection of cooperation with major producers, the shift reflects deeper structural, economic, and strategic considerations that have been building for years. For the oil and […]
