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
The drilling firm has incorporated Turnwell Industries to service the contract and explore future opportunities
Despite the volatility in the region, oil prices moved only slightly
The field has production capacity of up to 100 million standard cubic feet of gas per day
ADNOC has been stepping up its global expansion in recent years, including building trading operations since 2018
Equities, which tend to move in tandem with oil prices, rose on the rate cut hopes, with the Dow reaching an all-time high of 40,000 for the first time
Qatar, one of the world’s largest LNG exporters, announced an additional expansion of its LNG production in February
The company’s earnings before interests, taxes, depreciation and amortisation rose by 4.9 per cent to reach Dhs5.5bn
Mubadala’s Indonesian unit said the company was fully aligned with Jakarta’s desire to accelerate the project
OPEC sounded an upbeat tone on the economic outlook as well as future oil demand
The Tangkulo-1 discovery aligns with the company’s gas-focused strategy and serves as a significant milestone in the region’s development
Iraq has repeatedly said it is committed to voluntary cuts but pumped over its output quota by a cumulative 602,000 bpd
The market share of OPEC crude has fallen to a multi-decade low of 27 per cent after Angola’s exit at the end of last year