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Tuesday, October 27, 2020

Saudi Arabia News

Image by kichigin19  - AdobeStock

'This could be the one that gets me,' Says Oilfield Service Veteran

said Andrew Graham, a 20-year Schlumberger veteran cut in April. He was the only member of his sales team in the last bust to keep his job. This time, "There's no work," he said.Graham was attending a family celebration when his mobile phone buzzed with news that top producers Russia and Saudi Arabia ended a four-year pact that limited their oil production."I told my wife, 'This could be the one that gets me,'" Graham recalled in an interview with Reuters.In some ways, the scale of the latest job reductions is unprecedented. Fracking services provider ProPetro Holding Corp

Igor Sechin - Image: Kremlin.ru

Rosneft Re-appoints Sechin as CEO

he started overseeing Rosneft in 2000s.After becoming Rosneft CEO in 2012, he began a buying spree, often criticized, but which made Rosneft the world's biggest oil producer among publicly-traded companies - until late last year when Saudi Aramco's public share offering handed it the top spot.Saudi Arabia's and Russia's rivalry led to a battle for market share in March that flooded a market already oversupplied with oil because of the drop in demand related to lockdown travel restrictions as countries tried to contain the novel coronavirus.But Russia and Rosneft, in which international

Illustration - Oil workers - Image by Алексей Закиров - AdobeStock

Report: Petrofac to Let Go 20% of Workforce

we, like most of the industry, are putting in place a number of internal measures to help us deal with the challenges of the current environment."Brent crude lost about two-thirds of its value in the first quarter as demand plummeted due to measures to halt the spread of coronavirus and as Saudi Arabia and Russia battled for market share, pumping extra oil into an oversupplied market.Other energy industry companies have been announcing a range of measures to deal with the downturn, including major cost cuts.The chief executive said the voluntary redundancy program would be offered to employees

© Art Konovalov / Adobe Stock

Widespread Salary and Job Cuts at Schlumberger

plunged by more than 60% since the start of the year, prompting scores of oil and gas producers to slash spending on drilling and services. On Tuesday, U.S. oil benchmark futures were trading around $20.69 a barrel.The coronavirus pandemic has sharply cut oil demand, while top producers Russia and Saudi Arabia have pledged to pump full bore from April 1, flooding the market with new supply.Schlumberger said its executives will take a voluntary 20% base salary reduction, starting April 1, and worldwide support personnel will adopt unspecified "modified schedules" that reduce salaries, the company

Arja Talakar (Photo: Siemens)

Talakar Named CEO of Siemens Oil & Gas

Arja Talakar has been appointed CEO of Siemens Oil & Gas, effective April 1, 2019. He will be based in Houston.Talakar brings to this position extensive leadership experience. Prior to taking this new role, he was responsible for Siemens Saudi Arabia. He began his career with Siemens in 1996 as a rotating equipment and automation systems engineer and has since held several roles of increasing responsibility across the globe."The energy industry is transforming amidst a digital and technological revolution, which moves us toward evermore complex, multi-modal and decentralized systems,"

(Photo: Fugro)

Fugro to Train Saudi Students in Marine Technology

, enabling access to the extreme environments of the Red Sea and advancing the development of subsea research technologies,” explained Jean M.J. Fréchet, KAUST’s senior vice president for Research, Innovation and Economic Development. “The Red Sea is of great importance to Saudi Arabia's economy, and we need to further our understanding of its resource-rich environment for the benefit of the Kingdom.”Extreme environments demand cutting-edge technology and trained professionals, and Fugro will provide these, together with access to its most advanced technologies, enabling

Christian Berven joings Aquaterra Energy as director of business development. Photo: Aquaterra Energy

Aquaterra Appoints Berven

of the five systems have already been contracted for work in 2018.    Berven joins the company following 10 years as Managing Director of Norwegian oil service company, Toolserv. He has more than 22 years’ experience in the global oil and gas industry and has worked across Europe, in Saudi Arabia and Oman. He has also held senior positions with global players, Cameron and Interwell. George Morrison, Managing Director of Aquaterra Energy, said: “2018 is going to be an extremely exciting year and I’m delighted to welcome Christian into our business as we expand and strengthen

Abdullah Aldubaikhi will take over as CEO at Saudi Arabia’s largest shipping company Bahri, effective January 1, 2018 (Photo: Bahri)

Aldubaikhi Named Bahri’s Next CEO

Saudi Arabian maritime transport and logistics company Bahri has appointed Abdullah Aldubaikhi as its new chief executive office.   Aldubaikhi’s appointment, which takes effect January 1, 2018, comes as the company gears for a new phase of expansion following several months of growth, according to Bahri chairman, Abdulrahman M. Al-Mofadhi.   Aldubaikhi said, “My immediate priority will be charting short and long-term goals for Bahri while strengthening the company’s commitment to the Saudi Vision 2030 and ensuring a positive impact on the continued growth of the global

Neville Bissett (Photo: Q Terminals)

QTerminals Appoints Bissett as CEO

the latter 49 percent of the company.   Bissett brings to the role international experience in port management and terminal operations. Prior to joining QTerminals, he was the general manager of Ports Development Company, the master developer and Port Authority of King Abdullah Port (KAP) in Saudi Arabia; the managing director of an AP Moeller Terminals (APMT) joint venture in Africa; and with Hutchison Port Holdings, he was the chief executive officer of Alexandria International Container Terminals (AICT) and, subsequently, Tanzania International Container Terminals (TICT), among other senior

Photo: Peter Sanders and Clarke Shepherd have taken on the respective roles of technical manager and global business development director at Oil Plus.

Oil Plus Announces Senior Management Appointments

30 years’ experience, and Shepherd, an experienced project controls and business development manager, will support Oil Plus in providing clients with advice on the design of efficient production facilities and cost-effective operations.   The company plans on increasing its operations in Saudi Arabia, Oman, UAE and India as well as strengthening its relationship with an existing strategic partner in Kuwait. This will be supported by opening a new regional laboratory over the coming months.   Sanders was previously with the Danish Technological Institute where he led a team of PhD level

Oil Rises on Expected U.S. Inventory Decline

compliance with the agreement is scheduled for Jan. 21-22 in Vienna.   "Prices are likely to remain volatile until there is evidence that quotas are being adhered to," analysts at Cenkos Securities wrote.   Also reflecting a tightening market, traders expect top oil exporter Saudi Arabia to raise the official selling price for its crude to Asia in February

Photo: McDermott

McDermott Opens Office in Saudi Arabia

McDermott International, Inc. announced it has opened a new office in Al Khobar, Saudi Arabia, with the ability to add 300 staff to its existing workforce in the nation. The new office expands McDermott’s engineering capacity in the region and will enhance its offering in Saudi Arabia. The office opening follows McDermott’s recent Dammam yard inauguration and recruitment drive in Al-Khobar, where the company interviewed and assessed more than 600 Saudi craftsmen to support IKTVA localization objectives. McDermott said it has an extensive history of executing complex EPCI projects

Eric Evans (Photo: Crowley)

Crowley Promotes Evans VP of Strategy

a partnership with $1 billion in assets, including four tankers and three articulated tug barges (ATBs).   Evans joined Crowley in 1987 in Seattle as an accountant and manager of management reporting for 11 years, supporting the West Coast businesses and taking various short-term assignments in Saudi Arabia and Puerto Rico. In 1997, he took an assignment as administrative manager in Caracas, Venezuela, for Crowley’s oilfield logistics company and was there for two years. Evans moved to Jacksonville to serve as the projects manager and finance director from 1999 to 2001 for Crowley’s contract

Nick Sheperd (Photo: Wikborg Rein)

Wikborg Rein Bolsters London Team

and has developed particular expertise in relation to FIDIC contracts, having advised on FIDIC-based projects in Turkey, Oman, Jordan, India and Ethiopia. He has advised on construction and energy disputes throughout the Middle East, acted on international arbitrations arising out of major projects in Saudi Arabia, Qatar, Yemen, Azerbaijan, Ukraine, India and Sri Lanka, and on disputes arising from FPSOs in Malaysia, Indonesia and Brazil.   Also joining Wikborg Rein from K&L Gates, as a senior lawyer, is Mary Lindsay. Lindsay’s practice concentrates on international arbitration. She is

Sam Foster (Photo: Braemar Adjusting)

Braemar Adjusting Promotes Foster

.   In April 2013, Foster transferred from London to Dubai and has played a significant part in establishing Braemar’s Middle East operation,  running offshore and onshore energy, power and utility loss adjustments, with associated business interruption, in UAE, Bahrain, Egypt, Qatar, Saudi Arabia, Kuwait, Iraq, Iran, India and Kazakhstan on behalf of local insurers and international reinsurers

Kemp: Gulf Migrant Workers Will Be Biggest Victims of Oil Shock

Saudi Arabia's army of migrant workers will be among the biggest losers from the slump in oil prices and the impact will reverberate to poor countries across the Middle East and South Asia where many of them originate.   Saudi Arabia relies more heavily on migrant labour than any other large country except neighbouring United Arab Emirates, according to the United Nations Department of Economic and Social Affairs.   The oil boom brought an unprecedented influx of migrants mostly from poorer countries in the Middle East and South and Southeast Asia.   The number of migrants resident

Martin Kenney (Photo: GAC)

GAC UK Appoints Chartering & Project Manager

Martin Kenney as Chartering & Project Manager.   A ship broker and agent for 27 years working with heavy lift carriers such as BigLift, Rolldock, Jumbo and CPC, Kenney has managed turnkey projects worldwide including multimodal contracts to China, Russia, Argentina, Brazil, Iraq, Saudi Arabia, Pakistan and Algeria. For the last seven years, Kenney has managed his own company, Project Navigation.   He is the latest addition to GAC UK’s newly-formed nationwide team of specialist Product Managers dedicated to different sectors. Based in GAC UK’s Southampton & London

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