WEG Electric Corp., one of the largest suppliers of electric motors and related control equipment is helping EN-FAB Inc. to achieve demanding production targets in a major steam injection recovery project for Petroleum Development Oman (PDO) to reverse Omans declining oil production.

Despite relatively high and rising oil prices and sound operating cash flows in 2010, Standard & Poors Ratings Services sees mixed prospects for the credit quality of rated oil and gas companies in Europe, the Middle East, and Africa (EMEA), according to a report published by Standard & Poors.

Shell Global Solutions recently signed three licence agreements with the state-owned North Refineries Company of Iraq in Kirkuk, Northern Iraq.

Wood Mackenzie’s annual review of global upstream M&A suggests that peak levels of deal activity in 2010, particularly at the end of the year, bode well for another big year in 2011. The independent researchers identify four key prevailing themes that underpinned total spend of US$183 billion in 2010 as: Unconventional oil and gas, weak US gas prices, restructuring among the International Oil Companies (IOCs) and aggressive spending by the Asian National Oil Companies (NOCs).