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Agreement to supply Idemitsu Kosan with 6 million tons of naphtha over the next 10 years starting in July 2024
This extension builds upon previously agreed reductions of 3.66 million barrels per day announced in 2022 and 2023
Petrol prices have reduced for the first time in June after rising month-on-month since February
Mozambique's Coral South LNG development has a production capacity of almost 3.5 mtpa
Data also showed that Saudi refineries' crude throughput fell in March by 0.115 million bpd to 2.560 million bpd
ADNOC also signed a 20-year LNG off-take agreement for 1.9 million tonnes per annum of LNG
To service the contract and explore future opportunities, ADNOC Drilling has incorporated Turnwell Industries
The Ras Al Sadr gas field has a production capacity of up to 100 million standard cubic feet of gas per day
Abu Dhabi’s non-oil GDP grew by 10.4 percent YoY in Q4 2023
OPEC projects demand for crude to reach 43.2 million barrels per day in 2024
Areas of collaboration included renewable energy, hydrogen, liquefied natural gas
Discovery comes just a few months after the major discovery at the Layaran-1 well
Under the contract, Turnwell will be responsible for delivering 144 unconventional oil and gas wells
Blocks cover an area of around 11,400 square kilometers in water depths of 2,000 to 3,000 meters
Under the terms of the deal, Eni retains a 60 percent ownership stake and assumes the role of the operator
Excluding the corporate tax impact, net profit saw a robust 13 percent year-on-year increase to $165 million
The gas field contains economically viable quantities of gas, according to the Sharjah Petroleum Council
To provide clean electricity enough to power 350,000 homes
Partnership aims to deliver value and operational efficiencies to ADNOC, G42, Presight, and the UAE
LNG supplies from Qatar to China reached around 17 million tons in 2023
Petrol prices in the UAE have been rising from February onwards
Al Ghais anticipates a rise in oil demand to 116 million barrels per day by 2045
Deal aligns with Aramco’s strategy to expand its presence in key high-value markets like China
TotalEnergies also announces final investment decision for Oman's Marsa LNG project
