Saudi Arabia is considering plans to revive a follow-on offering in Aramco as soon as February, in a multibillion-dollar deal that’s likely to rank among the biggest share sales in recent years, according to people familiar with the matter.
“By awarding these contracts, we are taking an important step towards realising the full potential of Al-Shaheen field, which produces around half of Qatar’s crude oil today,” said Minister of State for Energy Affairs, and CEO of QE, Saad Sherida Al-Kaabi.
Saudi Arabia’s reversal of plans to bolster its oil production capacity has raised questions about the future of demand, but it points to another long-running risk to the kingdom’s energy petroleum revenue — rival suppliers.
Aberdeen-based consulting and engineering firm Wood has announced that it secured $850 million in Middle East contracts throughout 2023.
“We continue to see progress,” said Genel CFO Luke Clements. “It’s painfully slow. But it’s not like we’re close and then it all blows up. It’s just small steps, but with good progress.”
“We have cut all non-essential activity and significantly reduced spend, while developing a new source of income through domestic sales,” said Weir.
Oil held gains after the US and UK made a fresh round of strikes against Iran-backed Houthi rebels in Yemen, fanning tensions in the Middle East and offsetting concerns global supplies remain ample.
The two companies already work together on the adjacent Sarsang block, where HKN is operator. “We look forward to working together at Atrush to realise significant synergies on both blocks.”
“As we continue to optimise our portfolio, we look forward to enhancing our position as the leading independent gas-focused exploration, development and production company in the region." Energean plans to spend $400-500 million this year.
The project “highlights our commitment to providing our customers with innovative solutions for reliable and low carbon energy”, Buffon said.
Qatar appears to have paused sending liquefied natural gas tankers through the Bab el-Mandeb Strait after US-led airstrikes on Houthi targets in Yemen raised risks in the vital waterway.
“The American and British enemy bears full responsibility for its criminal aggression against our Yemeni people, and it will not go unanswered and unpunished,” the statement continued. It said it would target sites on land and at sea, in defence of Yemen.
This was in “retaliation for oil theft by the American regime, and [the vessel is] being transferred to the ports of the Islamic Republic for delivery to judicial authorities”.
Adnoc Drilling and Alpha Dhabi set out their plans for the joint venture in November 2023. The company will acquire and invest in “tech-enabled oilfield services”. It aims to spend $1.5 billion.
Westwood expects offshore rig dayrates to continue their upward trajectory across the board in 2024 as supply tightens.
Carbon capture firm Storegga is a partner in the Acorn and Trudvang CCS projects
The USV mobilisation this morning is the first such reported incident using this technology. Previously the Houthis have used unmanned aerial vehicles, small boats and missiles.
Saipem won the work in 2018, as one of a batch of contracts worth $800 million.
The energy industry continues to develop at pace, and that’s reflected by Decom Mission activity and that of our members.
“Longer supply lines tie up more vessels, boost freight rates, widen origin-destination spreads, and lift bunker demand,” Bank of America Global Research analysts said.
“This landmark LNG agreement from our ongoing Ruwais LNG project enhances Adnoc’s position as a reliable and responsible global energy provider and creates new opportunities for value-creation across our gas value chain as natural gas demand continues to increase,” said Rashid Khalfan Al Mazrouei, Adnoc senior vice president of marketing.
Oil and gas giant BP said it will pause all shipments through the Red Sea following an escalation of attacks on merchant shipping by Houthi militants.
Fertiglobe is now the “world’s largest seaborne exporter of ammonia and urea fertilisers. Today’s agreement reinforces Adnoc’s long-term commitment to Fertiglobe and our continued focus on delivering growth and maximising value for the company’s shareholders.”
OCI said in November it had hired advisers to explore asset monetization opportunities in an attempt to reduce its holding company discount. It said at the time it was in “active discussions” on “attractive value propositions.”
US Central Command reported the Strinda was attacked at 4 pm EST on December 11. It reported an anti-ship cruise missile struck the vessel while passing through Bab-el-Mandeb.