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OIL AND GAS

Murray Energy Corporation Extends Forbearance Agreements with its Lenders and Elects Not to Make Interest Payments to Noteholders
October 17, 2019

As previously disclosed, on October 2, 2019 Murray Energy Corporation (“Murray Energy” or “the Company”) entered into forbearance agreements with lenders holding in excess of 50% of outstanding loans under its Superpriority Credit and Guaranty Agreement and with lenders holding in excess of 50% of outstanding loans under its ABL and FILO credit facilities. Under the terms of the forbearance agreements, the lenders agreed to forbear from exercising"...

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Sabic to evaluate potential for a methanol plant investment in the Russian Far East
October 16, 2019

Saudi Basic Industries Corporation signed a preliminary agreement with the state-controlled Russian Direct Investment Fund and Moscow-based ESN Group for a potential investment in a methanol plant in the Russian Far East, as the Middle East's biggest petrochemicals producer looks to expand its international footprint.

The agreement, part of a broad range of pacts signed during the visit"...

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Oil industry brings Russia, Saudi Arabia together
October 15, 2019

MOSCOW: The Russian city of Perm, on the threshold of Siberia in the Ural Mountains, is a world away from the desert heat of Dammam in Saudi Arabia, but the two places have at least one thing in common: Electrical submersible pumps (ESP).
Novomet, the Perm-based Russian company that is the world leader in these devices, has teamed up with Saudi Aramco in a deal — also involving the Kingdom’s Public Investment Fund (PIF) and the Russian Direct Investment"...

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Saudi Aramco signs 10 strategic agreements with Russian firms
October 15, 2019

State oil giant Saudi Aramco has signed nine MoUs with Russian companies involved in the manufacture of drilling pipes, casings and tubings besides a share purchase agreement for Novomet at the Saudi-Russian CEO Forum hosted in Riyadh as part of the state visit of Russian President Vladimir Putin.

The deal signs today (October 14) at the Saudi-Russian CEO Forum by Saudi Aramco President & CEO Amin H. Nasser include:

*An MOU between Saudi"...

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Aramco to give green light for world's biggest IPO next week
October 12, 2019

Saudi Aramco’s board is expected to give final approvals to proceed with its mammoth share sale next week, according to people familiar with the matter.

The board is planning to meet with its advisers on the initial public offering around October 17, the people said, asking not to be identified because the matter isn’t public.

The"...

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Saudi Aramco 'to publish IPO prospectus this month'
October 10, 2019

A prospectus for Saudi Aramco's eagerly-anticipated initial public offering is expected to be published by the end of the month, according to The Wall Street Journal.

The prospectus is set to be published in Arabic on October 25 and in English two days later, the Journal reported. This will kick-start a book building process throughout November with potential investors which, if successful,"...

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Saudi Arabia prepared to cater to global oil demand
October 9, 2019

RIYADH: King Salman chaired the Cabinet session held at Al-Yamamah Palace in Riyadh on Tuesday, the Saudi Press Agency (SPA) reported. The Cabinet addressed the Kingdom’s assertion during its participation in Russian Energy Week — that it was ready to meet world oil demand following efforts to restore supply capabilities within 72 hours of last month’s oil field attacks.
These efforts strengthened the Kingdom’s position as the most reliable,"...

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Saudi Ministry of Energy highlights enhanced cybersecurity credentials
October 9, 2019

DUBAI — Saudi Arabia’s Ministry of Energy on Tuesday outlined how it is adapting and maintaining its world-class defense against evolving global cybersecurity threats.

“Cyberattacks aimed at disrupting critical infrastructures are becoming more nuanced, advanced and difficult to spot. There can be no compromise when it comes to our defensive posture and we cannot afford any disruption or downtime. There is no margin for error as we"...

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Fluor, JGC and Technip Selected for Landmark Rovuma LNG Project in Mozambique
October 9, 2019

Fluor Corporation (NYSE: FLR) announced today that a consortium of Fluor, JGC Corporation of Japan and TechnipFMC of France was awarded an engineering, procurement and construction contract by Mozambique Rovuma Venture S.p.A. (MRV) for its Mozambique Rovuma Liquefied Natural Gas (LNG) Phase 1 Project in Cabo Delgado, Mozambique with an immediate release of a limited notice-to-proceed. Fluor will book its portion of this work in the fourth quarter of 2019. “Fluor is pleased to have been selected for this strategic development and to partner with a team that combines considerable LNG expertise and design build capabilities on the African continent,” said Mark Fields, group president of Fluor’s Energy & Chemicals business. “We worked closely to develop the project model that......

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GE launches latest evolution of HA gas turbine
October 8, 2019

RIYADH — Access to affordable, reliable, flexible, and sustainable electricity is critical to growing economies and is fundamental to quality of life in the modern world. Helping to meet this growing need, GE has launched the latest evolution of its HA gas turbine, the 7HA.03. GE has also achieved a milestone with MYTILINEOS S.A., a leading Greek industrial company, which placed an order for the GE 9HA.02 gas turbine to be the heart of one of the largest natural"...

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