The transaction creates a unique opportunity to acquire a large-scale portfolio with a production capacity of 600,000 barrels of oil equivalent per day
OPEC raised its world oil demand forecasts for the medium and long term in its annual outlook published in October
OPEC said its “committee will continue to monitor” countries’ conformity with output decisions
The company’s Q3 2023 net income remained flat QoQ, with the increase in operating profit mostly offset by higher finance costs
The first gas from Absheron was successfully delivered in early July 2023
The completion is anticipated by the end of the calendar year, subject to regulatory approvals and satisfaction of customary closing conditions
The rigs will become operational in the fourth quarter of 2023
The drilling company’s earnings before interest, taxes, depreciation and amortisation in Q1 2023 reached SAR323m, with a margin of 41.5 per cent
Global crude oil prices declined in the first quarter of 2023 mainly driven by macroeconomic events contributing to market volatility
ADNOC Gas will serve domestic and international customers with an expanding portfolio of gas products
The firm has signed a share purchase agreement to acquire Target Engineering Construction Company
Kuwaiti foreign minister Sheikh Salem Abdullah Al-Jaber Al-Sabah said that the country executed many projects to preserve the environment and reduce emissions
Held under the theme of ‘The future of energy: secure, affordable and sustainable’, ADIPEC brought together global leaders to discuss critical issues around energy security and sustainability
Aramco’s net income was $41.6bn in the third quarter, slightly above analysts’ expectations
Stretching 50,000 feet, the well is around 800 feet longer than the previous world record set in 2017
The contract will increase Lower Zakum field’s gas production capacity from 430 million to 700 million standard cubic feet per day
The framework agreements, the largest of such awards in the oil and gas industry, cover ADNOC’s onshore and offshore fields and will run for five years
Oman has implemented a series of reforms to balance its budget and lower its debt, including the introduction of value-added tax last year
State producer Saudi Aramco increased its Arab Light grade for next month’s shipments to Asia to $9.80 a barrel
$6bn share buybacks are expected to be completed by Q3 2022 results
For July and August, the group had pledged to add more than 600,000 barrels a day to the market
Ahead of the OPEC+ session, the American Petroleum Institute reported that US crude stockpiles expanded by more than 2 million barrels
Aramco will benefit from VGP’s robust manufacturing and distribution network, significant R&D capabilities, strong partnerships with major OEMs
The contracts are valued at $1.3bn for Integrated Drilling Services and $700m for the provision of four island drilling units
The collaboration will see both companies accelerate the development of digital technologies to unlock greater value from oil and gas operations
Mubadala Petroleum, which has been present in Malaysia since 2010, is the operator of Block SK 320 and holds a 55 per cent interest in it
More than 60 core business processes automated to enhance efficiency, drive business continuity and enable seamless remote working
Dana Gas has invested over $2bn since first entering Egypt in 2007
ADNOC also announces an increase in national reserves of 4 billion STB of oil and 16 trillion SCF of natural gas
Recent studies found that high-performance AI frameworks powered by GPUs can improve profitability by over 13 per cent in oil field planning scenarios