The funds have been allocated for a wide range of initiatives, from essential research to applied technologies
The company’s revenues for the quarter reached $6.8bn, up 13 per cent YoY, marking the third consecutive quarter with revenues exceeding $6bn
Saudi Aramco’s recent acquisition of additional stake in Japan’s Sumitomo Chemical is a sign of consolidation in the petrochemical industry
Both Brent and WTI were set to gain more than 3 per cent on a weekly basis
ADNOC Distribution CEO Bader Al Lamki reveals the strategic pillars and innovative measures driving the company’s robust growth
The US topped the list of foreign investors in the oil and gas sector across the Arab world, with 85 projects
The sale aligns with Aramco’s downstream expansion and Sumitomo Chemical’s move away from commodity chemicals
ACWA Power continued its expansion through the period, adding a record 10.5GW of renewable power generation capacity to its portfolio
Amin Nasser said he expects global oil demand of 104.7 million bpd in 2024
The duo will work together to conclude a detailed sale and purchase agreement in the coming months
The energy firm declared dividends of $31.1bn for the second quarter, including $10.8bn in performance-linked payouts
Sidara had received a deadline extension twice, over June and July, to make a final offer for Wood Group
The company posted a quarterly net profit of $295m, a 28 per cent increase from $228m in Q2 2023
The acquisition marks Enersol’s third deal, bringing the company’s total commitments to approximately $550m
Brent crude oil futures inched down 4 cents, or 0.1 per cent, to $76.77 a barrel
The energy firm said negotiations over the preliminary agreement are expected to be complete early in 2025
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said OPEC+ could pause or reverse the production hikes if it decided the market is not strong enough
The company said its long-term focus would remain on “strategic portfolio optimisation” and restructuring underperforming assets
Oil has fallen from a 2024 high, above $92 a barrel in April to trade around $81, on July 30
The fuel price committee raised retail prices for Super 98, Special 95, and E-Plus 91 by as much as 0.06 fils per litre in August
Adani Energy, a power transmission and distribution company, raised funds through a Qualified Institutional Placement
Covestro said in June it was stepping up talks with ADNOC after the UAE’s national energy company made an improved takeover bid
The fuel price committee reduced retail prices for Super 98, Special 95, and E-Plus 91 by 15 fils per liter in July compared to the previous month
The company has invested in renewable projects around the world at different stages of development, valued above $30bn
For the week, Brent was trading down more than 1 per cent while WTI fell beyond 3 per cent
Brazil’s Mines and Energy Minister Alexandre Silveira said Petrobras will only enter into an agreement if the buyback is “economically viable”
Investors from the Middle East bring cash and expertise to such projects
Masdar will invest EUR817m in the transaction, which values the portfolio at EUR1.7bn, making it one of Spain’s largest renewable energy deals
Customer financing increased by 15 per cent YTD, with Dhs16bn of new financing extended in the January-June period
AW Shipping, ADNOC L&S’s joint venture with Wanhua Chemical Group, awarded shipbuilding contracts to Jiangnan Shipyard in China