Abu Dhabi National Oil Company (ADNOC) is planning to divest at least a 7.5% stake in drilling subsidiary ADNOC Drilling through an initial public offering (IPO). ADNOC intends to float the drilling unit’s issued share capital on the Abu Dhabi Securities Exchange (ADX). The listing is a part of the …

On Tuesday, oil prices were mixed following recent losses with some investors snatching up bargains. But concerns over slower demand grew after Saudi Arabia cut crude prices sharply for Asia. Demand woes grew after Saudi Aramco announced it would cut official selling prices (OSPs) by at least $1 per barrel …

European energy prices might be at record levels, but there is still room for prices to run, according to a Bloomberg analysis. Of course, natural gas prices are soaring everywhere—not just in Europe. The US benchmark price for natural gas has nearly doubled over the last year, with front-month Henry …

Turkey’s liquefied natural gas (LNG) import dropped 41.3 percent in the first half of the year compared to the same period of 2020, as LNG prices hit record-high levels on international markets. According to Energy Market Regulatory Authority (EMRA) data compiled by Anadolu Agency, Turkey imported 30.3 billion cubic meters …

Hyundai will seek to “popularise hydrogen” by 2040 with a raft of initiatives aimed at positing the fuel as an alternative to all-out battery electrification, and not just in the private vehicle sector. Following on from yesterday’s wide-reaching commitment to making its vehicle fleet all-electric in Europe in 2035, and …

The Organisation of Petroleum Exporting Countries (OPEC), says financing remains critical, in meeting any climate change target for developing countries. Dr Mohammad Barkindo, OPEC Secretary General, disclosed this at a video conference, entitled: “Ministerial Roundtable on Energy, Climate and Sustainability on Monday. “Financing is critical to reach any climate targets …

The Nord Stream 2 gas pipeline will be finished soon as Interfax reported citing Russia’s Foreign Minister Sergey Lavrov. “It will be finished in a few days; it will start to work,” Lavrov said. The end of the construction of the Nord Stream 2 gas pipeline in the waters of …

Europe’s oil demand, especially road fuel consumption, has rebounded in recent weeks, as many Europeans hit the road for late summer vacations after a year and a half of restrictions and lockdowns. Airline traffic in Europe is still 30 percent below pre-COVID levels from 2019, but road fuel demand has …

Europe is facing an energy price shock as the cost of natural gas and electricity surges to record levels. A gas supply crunch is boosting the cost of producing power from the U.K. to Germany just as businesses reopen and people return to the office, increasing demand. Rising prices are …

China’s first self-operated deep-water gas field Deep Sea No1 on Monday officially entered operation after completion of its last production well, demonstrating China’s attainments in ocean gas and oil exploration. Deep Sea No 1 can provide over 3 billion cubic meters of deep-water natural gas annually to Guangdong-Hong Kong-Macao Greater …