Category: Petroleum News
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The UAE’s ADNOC supports its fleet with “remotely managed ships”
ADNOC Logistics & Services, the shipping arm of the Abu Dhabi National Oil Company, continues to modernize its fleet with advanced technology and the latest AI systems to control autonomous driving. In this context, the shipping and marine logistics arm of the Abu Dhabi National Oil Group signed an agreement today, Thursday, April 11 (2023),…
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Equinor aims to increase its production outside Norway to 400,000 barrels of oil equivalent per day
The Norwegian company Equinor is diversifying its portfolio of oil and gas projects outside Norway as part of plans to increase production by 2030. The global leader in the oil and gas sector has made the final decision to invest in a new $9 billion project in Brazil, after years of consideration and appreciation. The…
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COP28 climate summit chief calls for halting methane emissions by 2030
The appointed president of the COP28 climate summit, Sultan Al-Jaber, stressed the need for all parties and sectors to cooperate in order to find realistic solutions to decarbonize and reduce emissions and achieve tangible progress in facing the repercussions of climate change. This came during a roundtable meeting for CEOs on carbon removal, as part…
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The world’s largest oilfield services company is shrinking its business in Russia
The American company (SLB), the largest oilfield services company in the world, has begun to reduce its activity in Russia after more than a year has passed since the Russian-Ukrainian war, and the imposition of multiple Western sanctions packages. And it seems that the measures to reduce its operations and activity in Russia began since…
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Oil and gas exploration in Somalia lures major international companies
Oil and gas exploration in Somalia has become the focus of international oil companies again, in light of the search for alternative supplies following the Russian war in Ukraine. The Russian invasion has sparked discussions about energy security in Africa, and major discoveries of oil and gas in Mozambique, Tanzania and Uganda have whetted investor…
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Agency: Iraqi oil exports will not exceed 3.3 million barrels per day in May
Iraqi oil exports in May 2023 are expected to remain close to last month’s levels, given the continued suspension of production in the Kurdistan Region of Iraq and exports via Turkey. Additional Iraqi oil export capacity from the southern export ports in the Persian Gulf is “limited,” a senior Iraqi oil official told S&P Global…
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Dana Gas shares decline after announcing the results of the first quarter of 2023
The UAE’s Dana Gas share declined during trading today, Wednesday, May 10 (2023), in the Abu Dhabi market, after its profits fell in the first quarter. The results of Dana Gas’s business in the first quarter of 2023 revealed a decline in net income by 8%, to reach 183 million dirhams ($50 million), compared to…
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The UAE’s ADNOC intends to offer 15% of the shares of the “Supply and Services” company
Abu Dhabi National Oil Company “ADNOC” continues to implement its strategy aimed at diversifying sources of income by issuing minority stakes in a number of its subsidiaries. The Emirati company announced its intention to offer a minority stake representing 15% of the shares of “ADNOC Logistics and Services”, the leading company in the field of…
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A Canadian company lures the Egyptian oil sector with a “fake” project.. What’s the story?
A Canadian company is seeking to convince the Egyptian oil sector of its technical solutions to reduce emissions from crude transport operations, through a project aimed at converting liquid oil into solid. In this context, Minister of Petroleum and Mineral Resources Tarek El-Molla and Minister of Environment Yasmine Fouad held a meeting via visual communication…
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The largest corruption case in the Algerian energy sector pushes Sonatrach to new rules
The largest corruption case in the Algerian energy sector prompted the Sonatrach group to define its plan to combat manifestations of corruption practices and bribery transactions, phenomena that toppled several officials in this sector, including ministers, general managers, and others, whose cases are still being discussed in the corridors of the courts. In order to…