Saudi Aramco, China Petroleum and Chemical Corporation (Sinopec), and Fujian Petrochemical Company Ltd. (FPCL) have broken ground on the Fujian Gulei Phase II Integrated Refining and Petrochemical Project, a $9.82 billion collaboration set to transform China’s energy sector. Located in Fujian Province’s Gulei coastal region, this project underscores the growing partnership between Saudi Arabia and […]
In a strategic move reflecting the complexities of the global oil market, Saudi Arabian Oil Company (Saudi Aramco) has announced a reduction in its official selling prices (OSPs) for crude oil exports to Asia. This decision follows the Organization of the Petroleum Exporting Countries and its allies (OPEC+) postponing a planned increase in oil production, […]
Saipem, the Italian energy services giant, saw its shares rise by 2.5% after securing a major $2 billion offshore contract from Saudi Arabian Oil Company (Saudi Aramco). The contract, under the Long-Term Agreement (LTA), involves developing the Marjan field, a critical asset in Saudi Arabia’s offshore oil and gas production strategy. Saipem’s project scope includes […]
Mitsubishi Power, a leading brand under Mitsubishi Heavy Industries, Ltd. (MHI), has been awarded a significant contract by Samsung C&T Corporation Saudi Arabia. The deal involves supplying its cutting-edge M501JAC combined-cycle gas turbine for a new cogeneration plant project in Saudi Arabia. This project, developed by a consortium led by Abu Dhabi National Energy Company […]
Abu Dhabi National Energy Company PJSC (TAQA) and JERA Co., Inc. (JERA) have announced the successful financial closure of Najim Cogeneration Company Limited, marking a significant milestone in the development of a cutting-edge industrial steam and electricity cogeneration plant in Saudi Arabia. The new plant, located in Jubail within Saudi Arabia’s Eastern Province, will produce […]
In a major step toward bolstering Saudi Arabia’s renewable energy capabilities, ACWA Power, together with the Water and Electricity Holding Company (Badeel) and Saudi Aramco Power Company (SAPCO), has announced the signing of power purchase agreements (PPAs) with the Saudi Power Procurement Company (SPPC). These agreements, valued at SAR12.3 billion (approximately USD3.3 billion), pave the […]
The Saudi Arabian Oil Company (Aramco) has signed three significant Memoranda of Understanding (MoUs) with leading American technology firms, aiming to pioneer advancements in lower-carbon energy solutions. These agreements, endorsed in the presence of HRH Prince Abdulaziz bin Salman al Saud, Minister of Energy for the Kingdom of Saudi Arabia, and US Secretary of Energy, […]
Saudi Aramco, officially known as Saudi Arabian Oil Company, is exploring an expansion into China’s chemical sector by acquiring a 10% stake in Hengli Petrochemical Co., Ltd., a significant move that underscores the company’s strategic shift towards its downstream operations. This development comes after the two companies signed a Memorandum of Understanding (MoU), which paves […]
In a significant development for the global Engineering, Procurement, and Construction (EPC) industry, Kalpataru Projects International Limited (KPIL), formerly known as Kalpataru Power Transmission Limited, has been awarded a prestigious Letter of Intent (LoI) by Saudi Arabia’s energy giant, Aramco. This agreement entails KPIL’s involvement in the third expansion phase of the Master Gas System […]
In a notable development within the petrochemical sector, Lummus Technology, a pioneer in process technologies and energy solutions, has announced securing a contract from Hyundai Engineering & Construction Co. Ltd. This agreement entails Lummus Technology supplying eight proprietary Short Residence Time (SRT) ethylene cracking heaters to be installed at the Amiral petrochemical complex in the […]
