Amidst lower oil prices, global oilfield services and equipment (OFSE) industry has taken a strong hit and are realigning their strategies to suit the current scenario
GCC oilfield services and equipment sector revamp strategies
Industry
PDO to borrow US$3.4bn loan to fund operations
Petroleum Development Oman (PDO) has confirmed that it is in talks to borrow US$3.4bn loan from an international finance house
OPEC meeting closes without conclusion
The OPEC meeting in Vienna concluded yesterday without a clear agreement on the oil-output strategy due to differences in approach
Saudi Aramco to build US$400mn facility for maritime and energy industries
Saudi Aramco has signed an MoU with GE and Cividale SpA to build a US$400mn forging and casting manufacturing facility that will serve the region’s maritime and energy industries
Saudi Aramco signs joint development deal for maritime yard
Saudi Aramco has signed a joint development agreement (JDA) with the National Shipping Company of Saudi Arabia (Bahri), Lamprell and Hyundai Heavy Industries for developing a maritime yard in Saudi Arabia
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