Abu Dhabi National Oil Company (ADNOC) has notified some term customers that it will reduce the volume of Upper Zakum crude oil supply in 2024, three sources with direct knowledge of the matter said on Thursday.The move could affect supplies to China…
Advanced Watertek, a provider of water treatment solutions, has recently delivered a presentation that emphasized the alignment of offshore operations with Global Sustainable Development Goals (SDGs) and Environmental, Social, and Governance (ESG) requirements…
Saudi Aramco on Tuesday reported a 23% fall in third-quarter net profit on the back of lower oil prices and volumes sold, marginally beating analyst estimates and helping underpin its shares.Net profit fell to $32.6 billion for the quarter to Sept…
Israeli natural gas exports to Egypt have resumed after a disruption last weekend but in small volumes, an official in Egypt's petroleum ministry said on Thursday, without specifying the current flow.Three people with knowledge of the matter also told Reuters on Tuesday the flow had resumed…
Gulf Marine Services (GMS), a provider of jack-up support vessels for the global energy industry, has secured new contracts for its fleet.The company said that it had won two contract extensions for four years in total and one new contract for two years in the GCC (Gulf Cooperation Council) Region…
The World Bank said on Monday it expected global oil prices to average $90 a barrel in the fourth quarter and fall to an average of $81 in 2024 as slowing growth eases demand, but warned that an escalation of the latest Middle East conflict could spike prices significantly higher…
Israel's Energy Ministry said on Sunday it had awarded 12 licenses to six companies to explore for natural gas off the country's Mediterranean coast, aiming to create more competition and diversify suppliers.The license awards, which came as the Israel-Hamas conflict entered its fourth week…
Egypt's natural gas imports fell to zero from 800 million cubic feet (mcf) per day, leading to more power cuts, the Egyptian cabinet said in a statement.The Egyptian government has increased the duration of electricity cuts as a result of a…
The United Arab Emirates President of COP28 said on Monday he was aware countries had strong views about including language on fossil fuels and renewables in the negotiated text of the UN climate summit but that common ground must be found.'I…
Offshore drilling firm ARO Drilling (“ARO”), a 50/50 joint venture between Valaris and Aramco, has secured financing for its first two newbuild jack-up drilling rigs, Kingdom 1 and 2.According to Valaris, ARO secured 'attractive' financing,…
Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that recent multi-billion dollar acquisitions by U.S. oil majors Exxon Mobil and Chevron of smaller rivals showed that hydrocarbons were 'here to stay'.'Exxon, Chevron didn't buy because they want to have stranded assets…
Lebanon wants a consortium led by TotalEnergies to drill another well at offshore Block 9 quickly, after a first well did not find enough natural gas to be commercialized, energy minister Walid Fayad told Reuters.The consortium drilling in Block…
Saudi oil giant Aramco's Chief Executive Amin Nasser said on Tuesday he saw significant demand growth for oil, citing a possible resurgence in the Chinese economy and an aviation sector that remains below pre-pandemic levels. He said a one-size…
A tanker seeking to fill up liquefied natural gas (LNG) at a terminal in Egypt left empty and diverted to another port, after an Israeli pipeline supplying gas was halted due to Israel-Hamas conflict, analysts said on Thursday.The Seapeak Catalunya…
The ongoing conflict between Israel and Hamas, the Palestinian militant group, poses a serious threat to the regional natural gas market and could have knock-on effects on Europe’s liquefied natural gas (LNG) supply as winter approaches, Rystad Energy…
Subscribe
