Offshore Middle East News - page 3


Saudi-listed ADES Holding Shares Soar in Debut Despite Weak Market

Oct 11, 2023

Shares of oil and gas driller ADES Holding climbed almost 30% above its listing price on its market debut in Riyadh on Wednesday after raising $1.22 billion in an initial public offering last month. The shares outperformed the wider Saudi market…

Output Disruption in Israel to Have Limited Impact on Europe Gas prices- Goldman

Oct 10, 2023

Gas production curtailment in Israel due to the ongoing conflict is likely to tighten global balances, but the impact on European gas prices is marginal for now, Goldman Sachs said.'Tightening of global LNG balances as marginal for TTF prices for now…

Israel Shuts Down Production from Tamar Offshore Gas Field

Oct 09, 2023

Israel is suspending production at the Tamar gas field off its southern coast and will seek alternative fuel sources to meet its needs, the energy ministry said on Monday, following three days of violence in the region.Chevron, which operates the field…

Energean Shares Drop Over Concerns of Middle East Escalation

Oct 09, 2023

Shares in European-listed companies with major business exposure to Israel fell on Monday on concerns over the potential for their operations there to be affected by a possible escalation of the conflict in the Middle East.Energean fell as much as 16…

Gas Prices Rise in Europe on Australia LNG Strikes, Middle East Tension Fears

Oct 09, 2023

Dutch and British wholesale gas prices rose on Monday morning as workers at Chevron liquefied natural gas (LNG) facilities voted to restart strikes, expectations of colder weather, and amid fears of tension in the Middle East region.The Dutch November contract rose by 3…

Abu Dhabi's Oil Champion ADNOC Nets on Global Expansion

Oct 09, 2023

The United Arab Emirates is refashioning the state-owned Abu Dhabi National Oil Company (ADNOC) in the image of an international oil major by stepping up its global expansion and finding new revenue streams to maximize earnings for the Gulf state…

Italy's Saipem Secures $4.1 Billion Contract for Offshore Project in UAE

Oct 05, 2023

Italy's Saipem, in consortium with Abu Dhabi's National Petroleum Construction Company (NPCC), has signed today a letter of award with ADNOC for an offshore construction contract related to the freshly sanctioned Hail and Ghasha Development Project in the United Arab Emirates…

Abu Dhabi's ADNOC Approves Multi-Billion-Dollar Hail and Ghasha Offshore Gas Project

Oct 05, 2023

Abu Dhabi-based oil and gas company ADNOC has reached the final investment decision and award of contracts for the Hail and Ghasha Offshore Development project offshore Abu Dhabi.Hail and Ghasha are part of Abu Dhabi’s Ghasha Concession which is set to produce more than 1…

TotalEnergies, Eni, QatarEnergy JV Bids in Lebanon's Offshore Oil and Gas Auction

Oct 02, 2023

A coalition of Total Energies, Eni, and Qatar Energy applied for the second licensing round to bid on oil and gas blocks 8 and 10 in Lebanese waters, just an hour before the deadline on Monday, Lebanon's energy ministry said. The consortium…

Panel Reviewing BP, Adnoc Offer for Israel's NewMed Seeks Higher Price

Oct 02, 2023

A panel reviewing a $2 billion offer by Abu Dhabi's national oil company and BP to acquire a 50% stake in Israeli gas producer NewMed has recommended raising the asking price by over 10%, casting doubt over the deal, sources said.The proposed…

Erdogan Says Turkey, Israel to Take Steps in Energy Drilling Soon

Sep 22, 2023

Turkey and Israel will soon begin taking joint steps in energy drilling, President Tayyip Erdogan was cited by Turkish media as saying on Thursday, adding the two countries would also operate energy networks to Europe through Turkey.Erdogan…

Saudi PIF-backed ADES Prices IPO at Top End, Implying Over $4B Valuation

Sep 20, 2023

Saudi oil and gas driller ADES Holding said on Wednesday it has set the final price for its initial public offering (IPO), implying a valuation of 15.242 billion riyals ($4.06 billion) for the Saudi sovereign wealth fund-backed firm.Reuters…

Aramco, Exxon CEOs Push Back against Forecasts of Peak Oil Demand

Sep 19, 2023

The CEOs of top Saudi Arabian and U.S. oil producers Aramco and Exxon Mobil on Monday pushed back against forecasts that oil demand will peak, and said the transition to cleaner energy to fight climate change would require continuing investment in conventional oil and gas…

Qatargas Changes Name

Sep 14, 2023

Qatargas has changed its name to “QatarEnergy LNG,” to emphasize a future vision for Qatar’s liquefied natural gas (LNG) industry, QatarEnergy said Thursday.'With a new name and logo, “QatarEnergy LNG” will continue to deliver on its commitment to safety…

Oil and Gas Driller ADES Holding Starts Marketing IPO to Institutional Investors

Sep 11, 2023

Oil and gas driller ADES Holding, backed by Saudi Arabia's sovereign wealth fund, began marketing its initial public offering on Sunday, seeking 12.50 riyals to 13.50 riyals a share.ADES plans to raise as much as 4.57 billion riyals ($1.22 billion)…

Current News

COP28 Draft Text Sets New Options on Fossil Fuel Phase Out

COP28 Draft Text Sets New Opti

OPEC Chief Urges Members to Reject Any COP28 Deal that Targets Fossil Fuels

OPEC Chief Urges Members to Re

GATE Energy Awarded Woodside Trion FPU Commissioning

GATE Energy Awarded Woodside T

FTC Seeks Additional Data on Chevron-Hess Deal

FTC Seeks Additional Data on C

Subscribe for OE Digital E‑News

Offshore Engineer Magazine