The Arab Petroleum Investments Corporation (APICORP) has agreed to two loan facilities worth a combined US$250mn with Sonatrach Petroleum Investment Corporation (SPIC), a subsidiary of Sonatrach International Holding Corporation owned by Sonatrach, the Algerian state-owned national oil company

Honeywell has acquired Rebellion Photonics, a Houston-based provider of innovative, intelligent, visual gas monitoring solutions with an aim to maximise safety, operational performance, emissions mitigation and compliance in the oil and gas, petrochemical and power industries

SABIC’s national initiative, Nusaned, qualified 40 entrepreneurs to invest in the Saudi market and announced a series of projects that will contribute US$1.6bn to GDP and create 3,149 jobs

Oilfield service firm Petrofac has secured a new contract and an additional scope of work with Petroleum Development Oman (PDO), with a combined value of approximately US$130mn

About 250 new oil and gas projects are likely to be sanctioned for development in 2020, up from 160 in 2016, and bottlenecks among suppliers appear inevitable, according to Rystad Energy