Saudi Aramco records 25 per cent drop in first-quarter earnings
Saudi Aramco has reported a 25 per cent drop in first-quarter earnings in the face of the collapse in oil prices and plunging demand arising from the COVID-19 pandemic
Industry
Weir Oil & Gas inks services, well operations contract in Iraq
Weir Oil & Gas Dubai has signed a multi-year contract in Iraq with a major international oil company
‘Oil production cut and COVID-19 crisis to shrivel Abu Dhabi’s economic activities’
The coronavirus outbreak and the oil supply glut are set to lower Abu Dhabi’s oil revenues in the short term, according to Moody’s report on credit developments from coronavirus
Penspen wins engineering contract with Target Engineering
Penspen, a provider of engineering and project management services to the energy industry, has been awarded a contract by Target Engineering Construction Co LLC for slug catcher replacement support on a project on Zirku Island in UAE
Petrofac secures UK deals worth US$100mn
Petrofac’s Engineering & Production Services business (EPS) has been awarded two three-year renewals in the UK, worth a combined total of more than US$100mn
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