Construction & Real Estate

Construction costs still at risk of rising despite Middle East truce

The US-Iran pact has begun to ease concerns around oil supply and shipping routes through the Hormuz. However, a return to normal will take time, and uncertainty remains over where oil will settle and how markets will respond. For the construction industry, the implications go far beyond fuel costs, said an expert. ...

Construction & Real Estate

Técnicas Reunidas secures two major EPC contracts for Middle East oil, gas facilities

Leading Spanish group Técnicas Reunidas has announced that it has secured two major contracts from a national oil company in the Middle East region to provide engineering, procurement, and construction (EPC) services for upstream oil and gas production facilities. ...

Construction & Real Estate

Kuwait Petroleum signs deal for power, steam co-generation project

Kuwait Petroleum Corporation (KPC) said it has signed a strategic agreement to explore the development of a power and steam co-generation plant in the country's Ratqa area, in a move aimed at improving efficiency across Kuwait’s oil and power sectors....

Construction & Real Estate

McDermott eyes $1.5bn Adnoc offshore EPC contracts

McDermott International is set to secure multiple offshore engineering, procurement and construction (EPC) contracts from Abu Dhabi National Oil Company (Adnoc), with a combined value estimated at up to $1.5 billion. These awards are linked to ADNOC’s ongoing offshore oil and gas expansion programme and reinforce McDermott’s strong positioning in the Middle East offshore EPC market. ...