The state-owned energy firm seeks to strengthen its position in the global LNG market, which is set to grow globally by 50 per cent by 2030
OPEC+ agreed to extend crude oil supply cuts into 2025
The acquisitions will give the Abu Dhabi maritime logistics firm access to Navig8’s fleet of 32 tankers and global footprint across five continents
Governments have set clear expectations for aviation to achieve a 5 per cent CO2 emissions reduction through SAF by 2030 and to be net zero carbon emissions by 2050, IATA said
ACWA Power will explore the development of major green hydrogen project with a first phase of a capacity of 200,000 tonnes per year powered by 4GW of renewable energy
Saudi Arabia is offering investors about 1.545 billion Aramco shares, or 0.64 per cent
OPEC prolongs some cuts by one year
This strategic investment will leverage B.Grimm Power’s experience and capabilities to develop solar energy projects across the UAE, Saudi Arabia, and Bahrain
Aramco’s significant pickup of a stake in Gas & Oil Pakistan was first announced in December last year
The OPEC+ supply cuts since late 2022 have been against a backdrop of rising output from the US and other non-member producers
The agreement builds upon previous collaborations between ADNOC and SOCAR, including ADNOC’s acquisition of a 30 per cent equity stake in the Absheron gas and condensate field
The Middle East region has the capital and willingness to invest in the scale-up of clean tech, says the UK-based carbon capture, use and storage company Carbon Clean’s CEO
The deal’s value could rise to $13.1bn at the top end under a greenshoe option, which would allow the sale of nearly 1.7 billion shares
The share offering is expected to be priced at a further discount of as much as 10 per cent to the trading price
Nasser has become highly popular at Aramco, by promoting a decentralised culture and spending time with both leaders and workers, as per analysts tracking the oil giant’s growth
As a member of OPEC, Kuwait aims to boost its production capacity to 4 million bpd by 2035
The discussions are expected to address the Israel-Gaza conflict, the Palestinian issue, and a potential free trade agreement between China and Gulf states
Capacity discussions can be complicated by different oil price preferences among OPEC+ members
The fuel price committee increased the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 19 fils per litre in May
While oil prices rose over 1 per cent on Monday in muted trade, gold hit a record high of $2,449.89 last week, but has shed more than $100 since then
A longer period of oil demand growth could boost the incomes of producers like the members of OPEC and allies, known as OPEC+
The energy firm expects to pay $31bn in dividends, despite reporting lower earnings for the first quarter
Shell announced a plan to divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses
The state energy firm offloaded 880 million shares at Dhs3.90 apiece, approximately 70 per cent above the IPO price of Dhs2.30
ADNOC’s first investment in Mozambique complements its efforts to expand its lower-carbon LNG portfolio to meet growing gas demand and support the transition to cleaner fuel sources
Saudi Arabia and Japan signed over 30 memorandums of understanding during the bilateral talks between the Crown Prince and Japanese PM
The fund has already begun building a portfolio of assets in the western Balkans region, with two wind farms totalling 456 MW
Crude exports from the world’s largest oil exporter increased 1.5 per cent to 6.413 million barrels per day in March
The 11.7 per cent equity stake in Phase 1 of Rio Grande LNG marks ADNOC’s first strategic investment in the US and complements its efforts to expand its lower-carbon LNG portfolio
This investment will help reduce carbon emissions and reliance on imported fuels, aligning with Japan’s domestic and international emission reduction targets