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
Al Dhafra Solar PV project is expected to provide approximately 160,000 households across the UAE with electricity
The extra oil going toward power may limit the price impact of OPEC’s plan to taper output restrictions from next month
ADNOC and its partner, ADQ, agreed to invest in and manage downstream activities at the planned Ruwais Derivatives Park
GP Global Group started the restructuring effort as the virus swept through economies around the world
Members of the Oil & Gas Climate Initiative pledged to reduce the carbon intensity of their operations to between 20 and 21 kilograms of carbon dioxide per barrel of crude equivalent by 2025
The plant will process 200 tonnes of cellulose and carbon-based waste daily
Located in Al Dhafrah, the Barakah plant is one of the largest nuclear energy new build projects in the world
Producers as well as their allies have slashed exports as OPEC+ embarked on its biggest-ever joint oil production cuts amid reduced demand
While oil prices have recovered to $43 a barrel in London, from a two-decade low of $15.98 in late April, sentiment in the market remains fragile
The project will be located at Neom on the Red Sea coast in northwestern Saudi Arabia