Top Headlines: Aramco Awards Deals Worth $10B and More

Here are some of Rigzone’s top stories during the last week, just in case you missed them…

Aramco Awards Deals Worth $10B

The Saudi Arabian Oil Company announced that it has awarded contracts worth $10 billion for the Jafurah unconventional gas field development. The deals comprise 16 subsurface and engineering, procurement and construction contracts for the Jafurah Gas Plant and gas compression facilities, as well as infrastructure and related surface facilities.

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Saipem Signs New Deal Worth Around $750MM

Saipem revealed that it has signed a new engineering, procurement and construction contract, worth approximately $750 million, with Saudi Aramco on the Jafurah Development Program in Saudi Arabia.

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California Gasoline Price Hits Record on Thanksgiving

The average price for regular unleaded gasoline in California hit a new record on Thanksgiving at $4.709, the AAA revealed. The average price for that time last year stood at $3.175, the AAA highlighted.

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Oil Crashes on New Variant Implications

Bloomberg reported that oil prices suffered one of the largest ever one-day plunges, crashing more than 11 percent on Black Friday.

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Trader Super-Cycle Belief Has Been Dented

According to oil and gas analysts at Standard Chartered, trader belief in a super-cycle has been dented. Without that belief, the likelihood of prices regaining $85 per barrel quickly, let alone pushing on beyond $100 per barrel, appears limited, according to the analysts.

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Chevron Sets 2022 Spending Budget At $15B

Chevron has announced a 2022 organic capital and exploratory spending program of $15 billion, at the low end of its $15 to $17 billion guidance range.

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