US engineering firm McDermott International has won a contract from Saudi Aramco for engineering, procurement, construction and installation (EPCI) services in the Marjan and Zuluf fields, offshore Saudi Arabia
Petrochemicals
‘Kuwait’s sovereign wealth assets increase since oil price shock’
Moody’s Investors Service estimated that the combined value of Kuwait’s sovereign wealth fund (SWF) assets has continued to rise since the oil price shock
BP to sell Gulf of Suez oil assets to Dubai’s Dragon Oil
BP has agreed to sell its interests in the Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company
INEOS to invest US$2bn in Saudi Arabia plants
UK energy firm INEOS has signed a memorandum of understanding with Saudi Aramco and Total, France, to build three new plants as part of the Jubail 2 complex in Saudi Arabia
‘Brent will not rise above US$80 per bbl in Q2’
The removal of US waivers on Iranian crude oil export sanctions in April will not push Brent prices above US$80 per bbl in the second quarter, according to 61 per cent of those surveyed in GIQ’s monthly Energy Market Survey in May
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