Oil and gas

Italy’s Saipem secures $1 billion in two major offshore contracts with Saudi Aramco

Saipem will be responsible for the EPCI three production deck modules, 33 km of subsea pipelines, and 34 km of power cables

Oil prices decline amid potential return of Libyan supply to the market

Brent Oil Futures fell by 4.9 percent, closing at $73.75 per barrel

Oil prices plummet amid China’s economic slowdown, ongoing Libyan supply issues

Brent crude futures had fallen by 37 cents, or 0.48 percent, settling at $77.15 a barrel

Moody’s upgrades Oman’s outlook to positive, citing improved debt metrics and strong fiscal management

The agency also retained its (P)Ba1 rating for the Government of Oman’s senior unsecured medium-term note program

UAE oil imports to Japan reach 31.07 million barrels in July 2024, 49.1 percent of total

Arab oil made up 97.8 percent of Japan's imports, totaling 61.92 million barrels

Oil prices drop as OPEC+ production rises, demand weakens

Brent crude futures dropped by 61 cents, or 0.8 percent, settling at $76.32 a barrel

Dubai’s Dragon Oil opens new regional office in Turkmenistan, eyes additional offshore concessions

Dragon Oil seeks to raise its total production in the countries where it operates to 250,000 barrels per day by the end of 2025

Abu Dhabi’s Tabreed achieves carbon verification, reducing emissions by 19,320 tons annually

This follows Tabreed's 2023 initiatives, including the first geothermal-powered district cooling plant with ADNOC

Oil prices steady amid smaller U.S. inventory draw, Libya’s supply concerns

Brent oil futures for October delivery dipped slightly to $78.62 a barrel

Egypt announces new oil discovery in Western Desert with daily yield of 7,165 barrels

The well was drilled to a depth of 270 feet into the Paleozoic sands