#energy
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 fuel price committee reduced the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 20 fils per litre in June
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 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
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
The fund has already begun building a portfolio of assets in the western Balkans region, with two wind farms totalling 456 MW
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
The drilling firm has incorporated Turnwell Industries to service the contract and explore future opportunities
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
The company’s earnings before interests, taxes, depreciation and amortisation rose by 4.9 per cent to reach Dhs5.5bn
Iraq has repeatedly said it is committed to voluntary cuts but pumped over its output quota by a cumulative 602,000 bpd
The visit is a continuation of long-standing engagement between the US and this region
The wind farm, which is on track to start operations by the end of the year, will consist of 50 wind turbines built on monopile foundations
The oil major reported a 14 per cent decline in first-quarter net income to $27.3bn in the three months to March 31
The announcement comes just ahead of a June 1 meeting in Vienna of the OPEC+ alliance
ADNOC will take a 4 per cent stake in Presight currently owned by G42, in exchange for 11 per cent of its shareholding in AIQ
The joint venture aims to explore, develop, and invest in wind projects in Bahrain, with a capacity of up to 2 gigawatts.
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
The potential deal aligns with the energy firm’s strategy to expand its downstream presence in key high-value markets
Spanish newspaper Cinco Dias has reported that the Abu Dhabi energy company TAQA is involved in eyeing a potential deal
Meanwhile, OPEC also sees global economic growth of 2.8 per cent in 2024
The petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Arab Gulf region
Over two million gallons of blended sustainable aviation fuel (SAF) will be delivered to Schiphol’s fuelling system throughout 2024
The agreements mark a pivotal stride in advancing clean energy projects within Pakistan, aiming to address challenges associated with conventional energy sources and their financial burdens
With an additional 1,400 megawatts of clean electricity capacity, Unit 4 contributes significantly to powering the national grid