News
November 28, 2022
During the meeting, which was held at ADNOC headquarters, the board directed ADNOC to pursue a net-zero by 2050 ambition to support the UAE net zero by 2050 strategic initiative. The board also endorsed plans to accelerate its 5 million barrels per day oil production capacity expansion to 2027, from the previous target of 2030.
News
November 28, 2022
Viking Completion Technology announced on Monday multiple contract wins valued at more than $7 million to deliver its full portfolio of well completion manufacture and design services to major MENA operators, further cementing its strong regional presence.
News
November 27, 2022
Iraq, OPEC’s second largest producer, plans to start increasing oil export capacity from its southern ports from next year to add a total of 1 million to 1.5 million barrels a day by 2025, according to its OPEC delegate.
Article
October 2022
With a contentious cohort largely sidelined, the Saudi Arabia-led OPEC+ alliance is reinforcing a hard truth: the coalition is firmly in control of the global oil market.
News
November 17, 2022
Saudi Arabia has cut oil exports sharply this month as the kingdom delivers on an OPEC+ agreement to shore up global crude markets.
News
November 16, 2022
SLB announced on Wednesday that is collaborating with Oman’s Ministry of Energy and Minerals and the Oman Investment Authority in building a national strategy to develop the potential of Oman’s geothermal resources.
News
November 14, 2022
Saudi Arabia’s wealth fund is considering an initial public offering of oil and gas driller ADES International Holding by the first half of next year, as it accelerates efforts to raise billions of dollars for new investments, sources said.
News
November 14, 2022
Moscow may have found an important new outlet in the UAE for some of its crude shunned by Europe after Russia’s invasion of Ukraine. Tracking data shows a tanker recently delivered about 700,000 barrels of Russian crude to an ADNOC refinery.
News
November 10, 2022
Saudi Arabia has established a carbon-capture sequestration center, as the state oil giant seeks to reach its goal of net-zero emissions by 2060.
News
November 08, 2022
Many of the world's oil refineries are rushing to secure supplies of Middle East crude for next year as nearly all European Union countries will be barred from purchasing seaborne cargoes from Russia within a month.
News
November 07, 2022
An oil tanker hauling a cargo of Russian crude has been sitting off the coast of the United Arab Emirates for three days, raising the prospect that the gulf state might become customer for Moscow.
News
November 01, 2022
OPEC’s crude production held steady last month after the group pledged a symbolic cutback to stabilize market sentiment, with output up 30,000 bpd to 29.98 million barrels ahead of deeper cuts this month.
News
November 01, 2022
Russia started swapping oil products with Iran, Interfax reported, the latest sign of deepening ties between the two sanctioned countries pushed closer by Russia’s war in Ukraine.
News
October 31, 2022
An excess of supply in the oil market was the main reason for OPEC+ opting to cut production in October, according to the group’s secretary-general.
News
October 31, 2022
Ahmed Al Jaber, chief executive of Abu Dhabi National Oil Company (ADNOC), called for maximum energy with minimum emissions to ensure global energy security in his opening address at the 38th edition of the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC).
News
October 30, 2022
Qatar is in talks with TotalEnergies SE and Eni SpA for a 30% stake in an exploration block in waters off Lebanon, QatarEnergy CEO Saad Al Kaabi said Sunday.
News
October 25, 2022
Riyadh and Washington will work through the recent tensions in their relationship and remain allies, a senior Saudi official and JPMorgan Chase & Co.’s chief executive said at the Future Investment Initiative conference.
News
October 21, 2022
Saudi Arabia’s energy minister held talks with counterparts from China and India, two of the kingdom’s biggest oil customers, amid a standoff with the U.S. over OPEC+’s decision to cut production.
News
October 21, 2022
Turkey has sided with Saudi Arabia in its deepening standoff with the US over OPEC+’s decision to cut oil production.
News
October 14, 2022
Dueling statements from Washington and Riyadh in recent days over last week’s OPEC+ decision to cut production underscore just how badly the U.S.-Saudi relationship has deteriorated under President Joe Biden, with each side accusing the other of acting in bad faith.
News
October 13, 2022
Abu Dhabi National Oil Company announced the award of a contract worth $980 million (AED3.6 billion) to ADNOC Drilling to hire two jack-up offshore rigs and associated manpower and equipment.
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