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.
Industry
ITT signs deal with Saudi Aramco
Saudi Aramco signed a seven-year strategic partnership agreement with ITT Corporation to provide products and services to Aramcos oil, gas and petrochemical projects in Saudi Arabia and internationally.
Kuwait to upgrade oil refineries at US$29 billion
Kuwaits 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.
Oil prices fall after IEA move
The International Energy Agencys (IEA) unexpected announcement to release 60mn barrels of crude from strategic oil stocks over the next month have negatively impacted oil prices.
Hitachi to provide compressors to Aramco
Hitachi Ltd has signed a deal with Saudi Aramco to supply compressors to the state-owned companys oil and gas plants.
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