PetroSaudi – Venezuelan Oil Exploration and PetroSaudi International
UPDATE: In January 2015, the PetroSaudi Discoverer was reported to have docked in Malta for routine maintenance and upgrades. (Editor’s note: news of PetroSaudi’s operations in Venezuela will be...
View ArticleShell to lease extra storage amid expansion projects in the UAE
Dubai, 25 March 2105: Oil storage companies are looking to refinance their debt in a bid to grow terminals outside the Hormuz Strait. The idea is to help traders manage an oil surplus at a time when...
View ArticleTarek Obaid – Petrosaudi CEO (Tarek Obaid) to Donate $10 Million to Mayo Clinic
In the spirit of typical Arab philanthropy, Mr. Tarek Obaid, the current CEO and co-founder of Petrosaudi International has donated $10 million towards the world-renowned Mayo Clinic. The proceeds are...
View ArticleShell’s Arctic drilling not expected to deliver before 2030
Royal Dutch Shell plans to explore the Arctic seas off the coast of Alaska, but any discover isn’t likely to be brought into production for another 15 years. The difficult environmental conditions and...
View ArticleBreaking : PetroSaudi confirms one of its ex-employees arrested by Thai...
Xavier Justo, a former IT executive of PetroSaudi International has been arrested by Thai police, following allegations of blackmail. Justo was arrested at his home in Thailand by the Crime Suppression...
View ArticleLay-Offs on the Cards for Royal Dutch Shell
The oil giant has been going through a rough patch with the price of oil falling steadily over the recent past. To counter this unfortunate trend, Royal Dutch Shell has now announced that lay- offs are...
View ArticleShell Oil Ice Breaker Braves Greenpeace Protestors to Start Journey to Arctic
The Royal Dutch Shell icebreaker Fennica has finally embarked on its journey to the Arctic, where it is scheduled to begin drilling operations. Environmental protests against the drilling operation had...
View ArticleShell Announces Plans to Reduce Capex
Feeling the pressure from the continued fall in oil prices, Shell Oil has made official announcements indicating how the company aims to remain resilient through the crisis. The multinational has...
View ArticleMost of Shell’s Job Cuts will be in the North Sea and North America
The job cuts announced by Shell Oil should not have too much of an adverse impact in the Middle East, says a company official. As of now, the major percentage of lay-offs will be focused on operations...
View ArticleGreenpeace Continues to Protest Against Shell Arctic Drilling Operations
The novel protest by Greenpeace activities to prevent the Shell Oil leased ice breaker Fennica was in the news recently, as protestors dangled from an Oregon bridge to block the way. The dramatic...
View ArticleCurrent Plunge in Oil Prices Could Create Opportunities for Shell and BP
Ever since reaching a high of near $115 USD a barrel in June of 2014, oil prices have dropped an astounding 76.5% to a recent l2-year low of $27 a barrel. The effect of this drop in crude oil prices...
View ArticleNobel Upstream Purchases 7.59% Stake in Maclure Field From Shell
Perhaps in an effort to make a substantial move while oil and gas prices are falling and industry land prices are sitting at attractive levels, Nobel Upstream has announced the signing of a deal to...
View ArticleShell’s First-Quarter Profit Fell 89%
Weak energy prices continue to take their toll, as profit dropped sharply at Europe’s largest oil company, Royal Dutch Shell. Energy prices are off nearly 40 percent in the past year, although they...
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Middle East Oil Battling Back Through Technology
Given the current marketplace when it comes to oil, it’s only natural that companies around the world would seek different ways to cut costs. Doing so helps alleviate some of the pressures resulting...
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OPEC Takes an Economic Punch
One of the clearest indications of the financial toll from the severe drop in oil prices over the past two years can be seen in the news of OPEC posting a deficit for 2015. That red ink marks the first...
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Shell Canada Back in Business Off the Coast of Nova Scotia
Thanks to a ruling from the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB), Shell Canada was able to go back to drilling one of two planned exploratory wells on June 22 after being shut down for...
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Shell and Chase: A Technology Team up of Convenience
The effort to make paying for Shell gasoline an easier process was behind the decision in early June to have company stations accept the Chase Pay app by the end of the year. It will be located within...
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Shell’s Bonny Light Terminal Flowing Again
Following two months of being off line, Shell’s Bonny Light terminal is back pumping oil in the Niger Delta after being dragged into a conflict between the Nigerian government and militants who were...
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Crafting a New Roadmap for Shell with LNG
Given the drastic downturn in oil prices over the past two years, all businesses that were previously awash in profits in this particular industry have looked elsewhere to open up new revenue streams....
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Shell Looking to Make the Right Moves After Brexit
The rippling effects of the June 23 Brexit vote continue to be felt around the world, with Royal Dutch Shell also in the path of that impact. The company is in the midst of selling assets in the North...
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