Energy

China’s marine fuel oil exports plunge 32 percent YoY to 1.32 million tons in March

China’s marine fuel oil exports plunge 32 percent YoY to 1.32 million tons in March

The exports are primarily driven by sales from bonded storage for vessels operating on international routes

Kuwait Petroleum Corporation launches e-commerce platform for the oil sector

Kuwait Petroleum Corporation launches e-commerce platform for the oil sector

The initiative aligns with the corporation's vision to leverage innovation and technology for maximum profitability

Saudi Arabia’s crude oil production reaches seven-month high in February

Saudi Arabia’s crude oil production reaches seven-month high in February

This represented a rise of 55,000 bpd or 0.61 percent compared to the previous month

Oman LNG inks 10-year supply contract with Japanese firm JERA

Oman LNG inks 10-year supply contract with Japanese firm JERA

Oman LNG will supply up to 0.8 million metric tons of LNG annually to JERA starting in 2025

Saudi Arabia’s drilling firm ADES secures $93.3 million contract to operate jack-up rig in Qatar

Saudi Arabia’s drilling firm ADES secures $93.3 million contract to operate jack-up rig in Qatar

The contract includes a mandatory and optional extension period of up to 18 months

Oil prices break free from tight range as geopolitical risk rises

Oil prices break free from tight range as geopolitical risk rises

OPEC sees demand growing by 2.25 million barrels per day in 2024

Oil prices likely to touch $95 during summer months: Report

Oil prices likely to touch $95 during summer months: Report

Escalating geopolitical tensions and ongoing supply restrictions propel oil prices

Ras Al Khaimah to get $3.2 billion battery gigafactory

Ras Al Khaimah to get $3.2 billion battery gigafactory

The first production line is expected to be fully operative by the end of 2026

Saudi Aramco expands Fadhili Gas Plant with $7.7 billion in EPC contracts

Saudi Aramco expands Fadhili Gas Plant with $7.7 billion in EPC contracts

This expansion initiative aims to enhance the plant's processing capacity from 2.5 to a potential 4 bscfd

OPEC oil output dips in March amid voluntary cuts and export challenges

OPEC oil output dips in March amid voluntary cuts and export challenges

Iraq and Nigeria lead reductions, maintaining OPEC's commitment to supply restraint

Oil prices surge on positive economic outlook, geopolitical concerns

Oil prices surge on positive economic outlook, geopolitical concerns

China and U.S. demand boost prices amid Middle East conflict

Abu Dhabi’s ADNOC Gas shareholders approve $3.25 billion dividend for 2023

Abu Dhabi’s ADNOC Gas shareholders approve $3.25 billion dividend for 2023

Company plans to invest over $13 billion between 2024 and 2029 in growth opportunities

QatarEnergy forges agreements with 4 international shipowners to operate 19 new vessels

QatarEnergy forges agreements with 4 international shipowners to operate 19 new vessels

The 19 conventional LNG vessels have a capacity of 174,000 cubic meters each

Saudi Arabia’s ACWA Power inks $800 million deal with Senegal for desalination project

Saudi Arabia’s ACWA Power inks $800 million deal with Senegal for desalination project

The plant, known as the Grande Côte seawater desalination plant, will have a capacity of 400,000 cubic meters per day

UAE’s DEWA shareholders approve payment of $844.18 million in dividends

UAE’s DEWA shareholders approve payment of $844.18 million in dividends

The dividend has a record date of April 8th, 2024

UAE’s ADNOC Distribution revamps dividend policy, commits to $700 million or 75 percent of net profit until 2028

UAE’s ADNOC Distribution revamps dividend policy, commits to $700 million or 75 percent of net profit until 2028

The company also reiterated dedication to 5-year growth strategy, encompassing AI, digitalization, and cutting-edge tech

Abu Dhabi’s TAQA, Japan’s JERA to develop greenfield plant in Saudi Arabia

Abu Dhabi’s TAQA, Japan’s JERA to develop greenfield plant in Saudi Arabia

Project leverages advanced technologies and emphasizes sustainability

UAE’s ADNOC starts crude oil extraction from Belbazem offshore block

UAE’s ADNOC starts crude oil extraction from Belbazem offshore block

Belbazem offshore block's production capacity set to increase: 45,000 bpd of crude oil and 27 million mmscfd of gas

Saudi Arabia’s ADES Holding inks two agreements for oil exploration and production in Egypt’s Gulf of Suez

Saudi Arabia’s ADES Holding inks two agreements for oil exploration and production in Egypt’s Gulf of Suez

For FY 2023/2024, Egypt has raised its projected total investments in oil and natural gas to $5.79 billion

OPEC Secretary General: Oil industry calls for $11.1 trillion in investments by 2045

OPEC Secretary General: Oil industry calls for $11.1 trillion in investments by 2045

Al Ghais highlighted OPEC’s role in addressing global issues like climate change, energy transition

With over $15.4 billion in investments, Aramco seeks stronger collaboration with China

With over $15.4 billion in investments, Aramco seeks stronger collaboration with China

Amin Nasser highlights mutual opportunities for economic growth and investments

QatarEnergy, Nakilat forge agreement to lease and operate 25 gas tankers

QatarEnergy, Nakilat forge agreement to lease and operate 25 gas tankers

Partnership strengthens Qatar's position as a leading LNG exporter

Oil to retain significant role in energy markets for decades, affirms OPEC Secretary General

Oil to retain significant role in energy markets for decades, affirms OPEC Secretary General

Al-Ghais highlighted that calls to abandon oil were "wrong" and "unrealistic"

Egypt implements fuel price increases as part of IMF agreement

Egypt implements fuel price increases as part of IMF agreement

The country is taking steps to align fuel prices with international markets