The second phase has enhanced the facility’s solar energy utilisation by increasing its capacity to 600 kilowatts per hour
Aramco will also trim pricing for lighter barrels to northwest Europe and the Mediterranean region
To ensure the success of these ambitious green projects, a renewed emphasis should be placed on public-private partnerships
Saudi Arabia is seeking to diversify its economy away from petroleum by building new industries
It’s also reviewing an earlier decision to buy 25 per cent of Sempra Energy’s Texas LNG terminal
The transaction will result in upfront proceeds of $2.7bn to ADNOC and is expected to close before end of 2020, subject to closing conditions and regulatory approvals
Aramco said it will drill more wells to evaluate how much energy the fields hold
Oil prices will probably continue to rise as excess inventories are used up
The moves come as Aramco adjusts to the reality of oil at $40 a barrel
KPC is reportedly planning to combine its eight business units into four to streamline operations
The oil-price crash and the virus’s impact on energy demand have changed the calculations for energy companies’ projects
OPEC+ also warned at a meeting on Wednesday that the pace of the demand rebound was slower than expected
Riyadh’s struggle to enforce compliance has been a long-running issue
The four units at Barakah will generate up to 25 per cent of the UAE’s electricity demand
Upon completion in mid-2022, the upgrade will allow ADNOC to process up to 420,000 bpsd of heavier and sourer grades of crude oil in Ruwais
Earlier this year, it decided to combine utilities Taqa and ADPower
The PIF received an injection of $40bn from the kingdom’s reserves in March and April
Saudi Aramco may keep capex, most of which is spent on exploration and production, at a similar level until at least 2023
ADNOC is discussing moving its 51 per cent holding in the pipelines into a special-purpose vehicle
A deal with Reliance would help the world’s biggest crude exporter join the ranks of the top oil refiners and chemical makers
Aramco will pay a dividend of $18.75bn for the quarter
Bullion is up more than 30 per cent this year, and could extend gains as governments and central banks respond to slowing growth with vast amounts of stimulus
The Solar Park project is the largest single-site solar power plant in the Middle East
AI system leads to 36 per cent less energy usage per year while reducing operators from 110 to five
China’s state-owned oil giant is reportedly conducting advanced discussions with BP for a 10 per cent stake in the Khazzan natural gas field
Amazon riding an e-commerce and cloud computing wave as people shelter-in-place due to Covid-19
OPEC and allied producers have started to ease output curbs amid weakening demand
The plan is in its inception stage and could still change
Petrol prices will stay the same for the fifth consecutive month
The project will be able to generate more than 42 megawatts of energy per year