“The sentiment for oil and gas stocks is on the very low side, at least in European markets,” Nordin continued. “There is a clear misalignment in valuations”, he continued, when contrasting market cap with how Tethys is valued within the industry.
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”.
Engie said the feedstock would go to South Korea, starting in the second half of 2030. It will take seven years to develop and build the project and then it will operate for 40 years. It will begin construction in 2027.
“We’ve managed to raise seed capital, from family and friends and some from Oman. We’re just waiting to sign a deal. We’re looking initially at around $30-35 million.”
The company signed a term sheet to buy LNG from Oman LNG for 10 years. The Omani project will provide Shell with 0.8 million tonnes per year, it said.
Japanese companies have struck a number of LNG deals, as the government pushes to lock in future energy supplies.
Japan agreed to purchase more liquefied natural gas from the US and Oman in the latest move to secure fuel supplies and avoid future shortages.
KCA Deutag President Land Simon Drew said the contract extensions are “a key part of our strategy to grow our business in key markets such as the Middle East”.
Thailand’s state-backed upstream company PTT Exploration Production (PTTEP) announced it will spend $29 billion between 2023 and 2027 as it aims to boost oil and gas production, as well as diversify into new businesses to cut emissions.
Eastern Pacific Shipping has confirmed that one of its product tankers appears to have been hit by a “projectile” offshore Oman.
Weatherford has signed drilling contracts with Saudi Aramco and Petroleum Development Oman (PDO), for three years and five years respectively.
Oman’s OQ has set out a number of stratagems for the energy transition, but for 2021 emissions increased.
Shell, OQ and TotalEnergies have signed a new contract with Oman on Block 11.
Petrofac has signed a memorandum of understanding (MoU) with Oman Hydrogen Centre (OHC), with a particular focus on green hydrogen.
When GlassPoint succumbed to bankruptcy in 2020 the vision of solar-powered steam production seemed to have come to a close.
Green Energy Oman (GEO) has commissioned a concept feasibility study from Worley for a 25 GW green hydrogen plan in Oman.
Aberdeen-headquartered KCA Deutag has landed a contract worth $550 million (£408m) in Oman, securing nearly 200 jobs.
BP has signed a strategic framework agreement (SFA) with Oman, with the plan of delivering a “multiple gigawatt world-class” renewable energy and hydrogen plan by 2030.
Oman has signed gas deals with Shell and TotalEnergies on Block 10, with plans for a new LNG plant in the offing.
State-backed Thai player PTT Exploration & Production’s (PTTEP’s) new chief executive, Montri Rawanchaikul, intends to strengthen the firm’s core upstream business in Southeast Asia, while preparing for new energy opportunities.
Oil prices could hit $200 per barrel if no new investments are made in the upstream oil and gas sector in the short-term, Oman's energy and minerals minister said yesterday in reply to the International Energy Agency's (IEAs) assessment for reaching net-zero emissions by 2050, reported S&P Global Platts.
The US government has sanctioned an Omani businessman for his participation in oil smuggling for Iran, with the proceeds going to destabilise the region.
Plans for ammonia exports are taking shape around the world, as companies compete to secure the most attractive opportunities to fuel future zero carbon aspirations.
The UK has accused Iran of being behind an attack on a tanker offshore Oman on July 29 and is working with partners on a response.
A small US-listed company has signed an agreement to develop a $2.4 billion refinery in Oman’s Port of Duqm.