Author: Rigs & Barge World
Canadian ARC Resources announced that its shareholders approved the company’s acquisition by Shell, according to a press release by ARC. Shell announced earlier this year it would buy the Canadian natural gas producer in a $16.4 billion transaction, aiming to strengthen its North American gas portfolio, according to Reuters. ARC said 99.54% of votes cast at a special shareholder meeting backed the transaction, noting that key regulatory approvals had already been secured, including competition clearances in Canada and the US. A Shell spokesperson said the company will resume its share buyback programme once the shareholder vote is completed. “The portion…
AKT Oil Services Company is going to carry out engineering, procurement, and construction work Subscribe to read the full article Become a MEED subscriber for unlimited access to: Exclusive news, comment and analysis on the MENA region An unrivalled 20-year old archive Exclusive announcements on project news, bids, awards and updates The latest Industry data and competitor insights SUBSCRIBE To MEED REGISTER to unlock sample content Source link
US senators have released a sanctions bill targeting Russia, lowering the proposed tariff to 100% from 500% in the previous version in an effort to secure broader congressional support, Reuters reported. However, Democratic lawmakers have expressed concerns over tariff provisions in a bipartisan US sanctions bill targeting Russia, warning that the legislation could expand President Donald Trump’s authority to impose tariffs on countries importing Russian oil and natural gas. The top buyers of Russian crude oil are China, India, Slovakia, Hungary, and Azerbaijan, while the leading importers of Russian natural gas are China, France, Japan, Hungary, and Belgium. The bill includes…
ASEC Company for Mining (ASCOM), a regional mining company, reported net profits in both its standalone and consolidated financial statements for the fiscal year ended December 31, 2025. According to the company’s financial disclosure to the Egyptian Exchange (EGX), consolidated revenue rose to EGP 3.921 billion in 2025 from EGP 3.228 billion in 2024. Standalone revenue also increased to EGP 589.4 million from EGP 438.8 million. Consolidated gross profit increased to EGP 736.7 million from EGP 526.9 million in 2024, while standalone gross profit rose to EGP 72 million from EGP 39 million. The company posted a consolidated net profit…
ADES International Holding (ADES) secured two offshore drilling contracts in the UK North Sea and Nigeria, totaling approximately SAR 858.3 million ($228.56 million), according to a press release by the company. In the UK, ADES signed an agreement with NEO NEXT+ Energy E&P UK Limited to deploy the Shelf Drilling Fortress jack-up rig. The contract is valued at SAR 483 million (about $129 million), covering mobilization, demobilization, and both firm and optional extension periods. It covers two firm wells for a minimum of 550 days, with two optional one-well extensions of at least 275 days each. Operations are set to…
QatarEnergy will potentially provide hydrocarbon feedstock to the proposed new medium industries area in Mesaieed Industrial City Subscribe to read the full article Become a MEED subscriber for unlimited access to: Exclusive news, comment and analysis on the MENA region An unrivalled 20-year old archive Exclusive announcements on project news, bids, awards and updates The latest Industry data and competitor insights SUBSCRIBE To MEED REGISTER to unlock sample content Source link
Israel has finally launched its fifth offshore licensing round (OBR5), almost five months after officials said the process would begin “within days” before plans were overtaken by Israel’s military campaign against Iran (MEES, 6 March). The Ministry of Energy announced on 6 July that five offshore exploration clusters covering around 7,100km² are now available for bidding, down from the six zones and roughly 8,600km² originally proposed on 25 February (MEES, 27 February). (CONTINUED – 907 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information…
The Egyptian Refining Company (ERC), a leading Egyptian privately owned refinery, continued to run above its nameplate capacity and benefited from stronger refining spreads amid geopolitical volatility in global energy markets during 2025. The refinery posted US dollar‑denominated revenues of EGP 30.7 billion in the fourth quarter of 2025 and reported no outstanding receivables, with EGPC current on all payments, according to a press statement by Qalaa Group, ERC’s parent company. The statement also outlined Qalaa’s overall financial performance for the year. ERC, which produces liquefied petroleum gas (LPG), naphtha and jet fuel among other refined products, repaid $417 million…
Insurance company executive says 80% of process unit capacity is being utilised Source link
Iraq’s Prime Minister Ali al‑Zaidi said on Tuesday that the country must secure a fair share within the Organization of the Petroleum Exporting Countries (OPEC), responding to reporters who asked whether Baghdad was weighing an exit from the oil producers’ group, Reuters reported. Al‑Zaidi is visiting Washington to attract major US investment in Iraq’s oil, gas, and power sectors, as the country works to recover from the Iran war that battered crude production and strained state finances. “Iraq is one of the founding members of OPEC… Our right is to receive a fair share for Iraq,” he told reporters at…