Industry

Saudi oil capacity to fall: Goldman Sachs

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Goldman Sachs stated that Saudi Arabia's abundance of spare oil capacity could be wiped out if the kingdom ramps up its production to 10mn bpd.

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Shoaibi Group signs deal with Emerson Process Management

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Shoaibi Group signed a distribution agreement with Emerson Process Management to offer a complete line of multi-phase flow meters and products for reservoir management and production optimisation in Saudi Arabia.

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Chevron outlines spending plans

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Chevron discussed its strategy and spending plans for 2011 and revealed the extent of the restructuring programme the company introduced in 2010.

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MIS Kuwait signs contracts with Weatherford

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UAE-based MIS Group (Maritime Industrial Services) signed two contracts in its Kuwait business with Weatherford Drilling International Ltd., through Weatherford's Kuwait branch, United Precision Drilling Company.

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Oil exports in Iraq hit a new high in May

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Iraq exported 2.225mn bpd of crude oil in May, up 84,000 bpd from April and the highest level since the 2003 war.

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