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 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
Occidental Petroleum (Oxy) and Mubadala Development are pulling out of the joint partnership firm — Tatweer Petroleum — that has managed Bahrain Field operations since 2009
Oil prices hit US$50 a barrel on Thursday for the first time in seven months owing to supply disruptions and increased global demand
By the end of June 2016, oil prices could be up to US$57 a barrel and US$73 by 31 December 2016, but Saudi Arabia, Iraq and Iran are still having an impact on the oil price downturn
