Schlumberger acquires Framo Engineering AS


Schlumberger concluded the acquisition of the remaining equity shares from Frank Mohn AS in Framo Engineering AS. The closing of the transaction is subject to regulatory approval.

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ITT signs deal with Saudi Aramco


Saudi Aramco signed a seven-year strategic partnership agreement with ITT Corporation to provide products and services to Aramco's oil, gas and petrochemical projects in Saudi Arabia and internationally.

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Kuwait to upgrade oil refineries at US$29 billion


Kuwait's Supreme Petroleum Council approved the upgrading of two of three existing refineries to raise output and produce cleaner products. The projects are estimated to cost US$29 billion.

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Oil prices fall after IEA move


The International Energy Agency's (IEA) unexpected announcement to release 60mn barrels of crude from strategic oil stocks over the next month have negatively impacted oil prices.

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Hitachi to provide compressors to Aramco


Hitachi Ltd has signed a deal with Saudi Aramco to supply compressors to the state-owned company's oil and gas plants.

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