UAE’s Adnoc to buy Galp’s stake in Mozambique LNG project
The United Arab Emirates’ main oil company agreed to buy a 10% stake in a natural gas project in Mozambique, its second major deal this week as it seeks to expand the business globally.
Saudi Aramco
EVOL: Aramco dips, another Pemex disaster and Harbour vs cigs
Saudi Aramco ditched around one third of its jackups this week in a sign that the oil-rich state is demonstration of a move away from some of its grandiose visions. The market remains tight, with South East Asia likely to provide a home for spare capacity. Whether the North Sea, beset by windfall tax woes, can secure some of these newly idle jackups remains to be seen.
World’s oil and gas firms linked to 40% of CO2 emissions since 2016
A new report has revealed the world's oil and gas firms have contributed to more than 40% of global carbon dioxide (CO2) emissions since the Paris climate agreements.
Aramco’s capacity halt is due to energy shift, minister says
The move raised questions about Saudi Arabia’s view on future demand as the world shifts toward low-carbon energy, and was also seen as a concession there’s adequate oil supply from competitors including US shale producers.
Saudi Arabia eyes reviving multibillion dollar Aramco share sale
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.
Saudi oil capacity U-turn shows threat from rival supply
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.
Saipem completes Saudi gas pipeline work
Saipem won the work in 2018, as one of a batch of contracts worth $800 million.
Norway pension fund blacklists Aramco, other Gulf companies
Norway’s largest pensions’ manager divested $15 million from Gulf companies on concerns they may facilitate human rights violations, and decided to exclude Saudi Aramco because of climate risks.
The great drilling rig migration: jacking up and shipping out
Now that rates are rising, Middle Eastern demand is slowing – but Southeast Asia has been touted as the next step.
Prices slide for Aramco but upstream spending climbs
The Saudi company also noted the importance of gas. During the period, Aramco started up the Hawiyah gas plant expansion, increasing the facility’s capacity by 800 million cubic feet per day.
Saudi Aramco hunts for more LNG deals to meet surging demand
Saudi Aramco is looking for more acquisitions in LNG following a first-ever deal in the industry last month, as it sees growing demand for the fuel.
Big Oil shows support for energy transition but on its own terms
The heads of Saudi Aramco and Exxon Mobil took to the stage at a major industry event Monday to voice support for the global transition to cleaner forms of energy, but one in which oil continues to play a major role for decades to come.
McDermott kicks off major financial restructuring
Oil and gas contractor McDermott has started a restructuring package amid concerns over its financial health.
BlackRock appoints CEO of oil giant Aramco to its board
BlackRock has named Saudi Aramco Chief Executive Officer Amin Nasser to its board, underscoring the asset manager’s commitment to the oil industry in the middle of a highly politicized debate about its role in ESG investing.
Saudi Arabia hikes its oil prices as supply cuts extended
Saudi Arabia issued big price increases for its crude to Europe and the Mediterranean, while also unexpectedly lifting the cost of barrels to Asia, a move that risks stifling demand for the kingdom’s barrels.
Italian contractor Saipem wins $550m rig contracts
Saipem (BIT: SPM) has been awarded a pair of offshore drilling contracts worth a total of $550 million.
Total, Aramco dish out $11bn of EPC contracts
At FID, Total said it aimed to start commercial operations in 2027.
Saudi Aramco taps Turkish firms for $50 billion building spree
Saudi Aramco met with an army of Turkish contractors this week to discuss $50 billion of potential projects in the Gulf kingdom, underlining improving trade ties between the two countries after they buried a diplomatic spat over the killing of Jamal Khashoggi.
Saudi Arabia moves closer to another major Aramco stock offering
Saudi Arabia’s plans for another multibillion-dollar offering of Aramco stock are gaining fresh momentum, with any deal set to be one of world’s largest share sales in recent years, people with knowledge of the matter said.
World’s biggest oil group invests in UK company
A UK firm - that specialises in monitoring pipelines and vessels – has secured backing from the world’s largest oil company.
Aramco to Send Representatives to Aberdeen’s Energy Export Conference
Aramco’s delegation to EIC flagship event focused on engaging with the UK’s energy supply chain.
Saudi Aramco posts blowout annual profit and raises dividend
Saudi Aramco unexpectedly increased its dividend and said it would hike spending as it looks to deploy an avalanche of cash generated by last year’s surge in oil and gas prices.
Saudi Aramco says ESG investing threatens energy security
Saudi Aramco’s top official warned Sunday that an increased focus on climate was undermining investment in oil and gas to the point where it now posed a threat to the world’s energy security.
Saudi Aramco refiner drops in debut after $1.3bn IPO
Saudi Aramco Base Oil, a refining unit of the state-owned oil producer, slumped in its trading debut following an initial public offering that raised $1.32 billion, bucking the trend for strong debuts in the Gulf region amid the gloomy outlook for the global economy.
HSBC cuts off financing for new oil and gas projects
HSBC will no longer provide lending or capital markets financing for new oil and gas fields, it has announced, while accelerating support for renewable energy.