Saudi Arabia, the world's largest oil exporter, hiked July crude oil prices for Asian clients to higher-than-expected levels, citing constrained supply and anticipation of high demand this summer.
It has been announced that Saipem has entered a binding agreement with KCA Deutag ("KCAD") to sell its entire Drilling Onshore operations in exchange for $550 million in cash plus a 10% stake in KCAD after it acquires Saipem's Drilling Onshore operations.
Hammerfest LNG has resumed production after extensive repairs and improvements following the fire in September 2020.
ADNOC Logistics & Services (ADNOC L&S), Abu Dhabi National Oil Company's (ADNOC) shipping arm and the largest shipping company in the region, has decided to acquire three additional liquefied natural gas (LNG) vessels.
The Egyptian Linear Alkyl Benzene (ELAB) has assigned Petroelum Safety and Environmental Services company (PetroSafe) to implement flaring gas monitoring project using the monitoring system developed by Baker Hughes
OPEC+ is trying to make up for the economic fallout of plummeting Russian oil production due to Western sanctions against Moscow over Ukraine, according to two OPEC+ sources.
Gazprom announced that it produced 211.4 billion cubic meters (bcm) of gas between  January and May 2022, according to its most recent figures.
Several company-owned fuel and convenience retail sites from the Landmark group of companies (Landmark) were acquired by Shell Retail and Convenience Operations LLC (Shell). These sites are also provided with fuel and convenience supply agreements.
As part of the National Oil Company of Iran's project for Mansouri Fields, wells no. 123 and 124 have successfully been commissioned, which will increase the field's crude oil production.
Yehia Zaki, the Chairman of Suez Canal Economic Zone (SCZone), has signed a memorandum of understanding (MoU) with Michael Stusch, the CEO of German H2 Industries to develop new station for transforming wastes into green hydrogen in the SCZone with investments of $4 billion.
