That has stoked worries among traders about a slump in demand from China, where refineries sharply cut crude processing rates last month on tepid fuel demand
The Red Sea project is poised to be the world’s first fully clean energy-powered destination
The consortium, comprising Egypt’s Infinity Group and UAE-based Masdar, will develop, finance, and operate the onshore wind project
Oil majors have complained that the terms of Iraq’s traditional oil service contracts meant they could not benefit from rising oil prices and lost out when production costs rose
A broader conflict in the Middle East could threaten oil moving through key choke points in the region
Saudi Arabia’s facilities have so far been inspected under the SQP agreement with the IAEA, which offers limited international oversight
The robust performance reinforces the companies’ foundation for sustained growth as they continue to execute individual strategies
The organisation said oil demand will rise by 2.11 million barrels per day (bpd) in 2024, down from growth of 2.25 million
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