February 21st, 20195British marine engineering firm James Fisher and Sons has expanded its capabilities in the Middle East with the acquisition of Saudi Arabian service provider Murjan Al-Sharq Marine Contracting (MSMC).
MSMC has nearshore marine construction and maintenance capabilities, with a 10-year track record of projects with Saudi Aramco.
Paul...
February 11th, 20190One of the Middle East’s largest shipping lines, National Shipping Company of Saudi Arabia (Bahri), yesterday clarified that its tanker was not breaching the US sanctions on Venezuela. The ship hit the headlines over the weekend as it was alleged it was contravening sanctions placed on the Latin American nation.
The ship is bound...
January 28th, 20190South Korea's largest shipbuilder Hyundai Heavy Industries (HHI) is selling a 19.9% stake in its refinery subsidiary, Hyundai Oilbank, to Saudi Aramco for KRW1.8trn ($1.6bn in its latest move to bolster its financial position.
Saudi Aramco already owns 63.4% of S-Oil Corp, another Korean refiner.
HHI has been spinning off non-core...
January 18th, 20190Italy's Saipem has been awarded two engineering, procurement, installation and construction contracts by Saudi Aramco, worth around $1,3bn, and part of a long-term agreement for offshore activities in Saudi Arabia, renewed in 2015 and in force until 2021.
A statement from the Italian contractor reports that these contracts are part of...
December 14th, 20180Egyptian offshore driller ADES International has successfully renewed a contract for 1980-built jackup rig .
Operating in Saudi Arabia, the renewal is for seven years commencing in the first quarter of 2019 when the current contract expires.
ADES says the deal is worth around $150m, in line with the day rate on the existing...
August 6th, 20181Saudi Arabia has restarted oil shipments through the Red Sea shipping lane of Bab Al-Mandeb after a 10-day halt was called when two Bahri VLCCs were attacked by Yemeni Houthi militias last month.
Energy giant Saudi Aramco said in a statement shipping had resumed, effective immediately. “The company is careful to continue monitoring...
July 26th, 20180Saudi Arabia said today it is “temporarily halting” all oil shipments through the Red Sea shipping lane of Bab al-Mandeb after an attack on two Bahri VLCCs by Yemen’s Houthi movement.
Saudi Energy Minister Khalid al-Falih said that Houthis had attacked two Saudi VLCCs in the Red Sea on Wednesday morning, one of which sustained...
June 19th, 20180US offshore driller Rowan Companies has leased its super gorilla XL class jackup rig to ARO Drilling, its joint venture with Saudi Aramco.
The jackup will be used for a three-year contract that ARO Drilling has been awarded by Saudi Aramco.
The Bob Palmer was previously under contract with Saudi Aramco, and will now continue...
February 15th, 20180Saudi Aramco, Saudi Arabia’s state oil company, and its partners Lamprell, the National Shipping Company of Saudi Arabia (Bahri) and Hyundai Heavy Industries (HHI), have chosen this year’s Posidonia exhibition in Greece for the global unveiling of its International Maritime Industries (IMI) joint venture giant yard. When the...
January 25th, 20180Houston-based oilfield services company McDermott International on Wednesday said it had been awarded a major contract by Saudi Aramco.
The deal is for engineering, procurement, construction and installation work on 13 jackets in four fields - Zuluf, Marjan, Berri and Abu Safah - offshore Saudi Arabia.
Its value has not been disclosed...
