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
OPEC+ is currently cutting output by about 5.7 per cent of global demand, in a series of steps agreed since late 2022
Investor demand was strong, with the order book peaking at $4.6bn, representing an oversubscription rate of 4.6 times
The kingdom wants to be the world’s biggest supplier of hydrogen, Saudi Energy Minister Prince Abdulaziz bin Salman al-Saud said in 2021
The project will extend ADNOC Gas’ natural gas pipeline network in the UAE by about 300 kilometres
The initial estimated area of the newly discovered oil well is around 96 square kilometres
The company will begin with an initial supply of 19,500 tonnes in 2027, with a maximum contract value of $431m
This marks the world’s first offshore deployment of AIQ’s RoboWell, according to a statement by ADNOC
OPEC’s report points to an oil supply deficit in coming months
Demand for the three tranches topped $31.5bn, drawing over $11bn for each of the 10- and 30-year tranches and more than $9.5bn for the 40-year bonds
The state energy giant said it now has buyers lined up for 70 per cent of the plant’s 9.6 million-tonne annual production capacity
The agreements include gas and crude oil exploration projects in the Mediterranean, Nile Delta and Western Desert
Saudi exports to China had tumbled in June, to 1.12 million barrels per day, the lowest since March 2020
BiOD Technology is known for converting used cooking oils and palm oil mill effluent into clean biodiesel