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Energy
Energy
QatarEnergy strikes long-term naphtha supply deal with Japan’s ENEOS Corporation
This agreement builds on the company's successful and long-standing relationship with one of its valued Japanese partners
Energy
Global energy demand reaches new high in 2023, fossil fuels maintain dominant share: Report
Energy transition stalls as global primary energy demand rises to 620 Exajoules in 2023
Energy
Abu Dhabi’s Masdar signs $3.43 billion deal to acquire Greece’s Terna Energy
Offer values Terna Energy's total equity at 2.4 billion euros with an enterprise value of 3.2 billion euros
Energy
PTTEP acquires stake in ADNOC’s Ghasha concession
Adnoc Group owns and operates the Ghasha concession, with a controlling stake of 55 percent
Energy
Output at Kuwait’s fully operational Al-Zour refinery reaches 615,000 barrels per day
Al-Zour refinery boosts Kuwait's total refining capacity from 800,000 bpd to over 1.415 million bpd per day
Energy
GCC countries improve rankings on energy transition index: Report
The top 10 countries on the energy transition index are all in Europe
Energy
QatarEnergy enters 10-year naphtha supply agreement with India’s Haldia Petrochemicals
Agreement commencing in Q2 2024 will be facilitated through QatarEnergy's HPL Global Pte Ltd
Energy
ADNOC awards $5.5 billion contract for Ruwais LNG plant
Project to more than double ADNOC’s existing UAE LNG production capacity to around 15mmtpa
Energy
OPEC maintains forecast for 2.25 million bpd global oil demand growth in 2024, 1.85 million bpd in 2025
The organization forecasted 2.3 million bpd rise in world oil demand in the second half of 2024
Energy
ADNOC Drilling, Alpha Dhabi joint venture raises stake in Gordon Tech for $270 million
Acquisition follows Gordon Technologies' completion of setting up its Abu Dhabi business
Energy
ADNOC pays $1.19 billion to ADNOC Distribution bondholders to redeem U.S. dollar denominated bonds
Following the redemption, ADNOC Distribution’s free float remains unchanged at 23 percent
Energy
Kuwait new energy strategy takes off but oil still dominates
Revival of projects in the energy sector key to the country’s development
Energy
OPEC oil output rises in May, reaching 26.63 million barrels per day
This represents an increase of 145,000 bpd from April
Energy
5 key green projects in Dubai that are helping reduce emissions
A solar park, a green hydrogen project and a hydroelectric power plant are some of the initiatives
Energy
Upstream oil and gas investment needs to rise 22 percent by 2030 to meet surging demand, $4.3 trillion required: Report
Global upstream oil and gas capital expenditure is expected to grow by $24 billion this year
Energy
QatarEnergy inks 10-year naphtha supply agreement with Japan’s Idemitsu Kosan
Agreement to supply Idemitsu Kosan with 6 million tons of naphtha over the next 10 years starting in July 2024
Energy
OPEC+ extends voluntary production cut of 2.2 million barrels of crude oil a day into 2025
This extension builds upon previously agreed reductions of 3.66 million barrels per day announced in 2022 and 2023
Economy
UAE: Petrol, diesel prices for June 2024 announced
Petrol prices have reduced for the first time in June after rising month-on-month since February
Energy
ADNOC acquires 10 percent stake in major LNG development in Mozambique
Mozambique's Coral South LNG development has a production capacity of almost 3.5 mtpa
Energy
Saudi Arabia’s crude oil exports hit 9-month high, reaching 6.413 million bpd in March
Data also showed that Saudi refineries' crude throughput fell in March by 0.115 million bpd to 2.560 million bpd
Energy
ADNOC makes first major U.S. investment with 11.7 percent stake in NextDecade’s LNG project
ADNOC also signed a 20-year LNG off-take agreement for 1.9 million tonnes per annum of LNG
Energy
UAE’s ADNOC Drilling secures $1.69 billion contract to develop 144 unconventional wells
To service the contract and explore future opportunities, ADNOC Drilling has incorporated Turnwell Industries
Energy
UAE’s ADNOC to begin operations at Ras Al Sadr gas field in Abu Dhabi
The Ras Al Sadr gas field has a production capacity of up to 100 million standard cubic feet of gas per day
Energy
UAE’s non-oil sectors maintain strong growth with government support, solid demand: Report
Abu Dhabi’s non-oil GDP grew by 10.4 percent YoY in Q4 2023
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