Companies

Saudi state oil giant Aramco plans to raise at least $3 billion from a new bond issue that would be its first in three years, sources with knowledge of the matter told Bloomberg on Tuesday. Saudi Aramco plans to offer bonds with 10, 30, and 40 years of maturity and …

Italy’s supermajor Eni has announced a new natural gas discovery in the Gulf of Mexico, in the mid-deep waters off the Mexican coast. The discovery contains an estimated potential reserve of 300 to 400 million barrels of oil equivalent, the company said. The block where Eni was drilling for gas …

International oil and gas majors Shell, BP, and TotalEnergies, as well as Japan’s Mitsui & Co, have agreed to buy 10% each in the new LNG project in the United Arab Emirates, anonymous sources familiar with the plans told Bloomberg on Friday. The international firms will invest in the Ruwais …

Four international companies have agreed to invest in Abu Dhabi National Oil Co.’s next liquefied natural gas export project, according to people with knowledge of the matter. Shell Plc, TotalEnergies SE, BP Plc and Mitsui & Co. will each take a 10% stake in the Ruwais LNG plant, said the …

TotalEnergies is planning to exit its gas-condensate finds off the South African coast, reported Bloomberg, citing sources familiar with the matter. Instead, the French oil and gas major plans to focus on exploration opportunities closer to Namibia. In 2019, TotalEnergies made a discovery at the Brulpadda field, braving one of …

Saudi Aramco is considering a takeover bid for Australian energy major Santos, Bloomberg has reported, citing unnamed sources, who also said the UAE’s Adnoc was also studying an offer for the company. The bids were a demonstration of Middle Eastern energy companies’ interest in expanding their natural gas business internationally, …

Shell will pause on-site construction work at a biofuels plant in Rotterdam amid weak market conditions, the supermajor said on Tuesday, as international oil firms continue to re-evaluate their low-carbon energy projects. Shell’s subsidiary Shell Nederland Raffinaderij will temporarily pause on-site construction work at its 820,000 tons-a-year biofuels facility at …

ExxonMobil joined major lithium producers this week in reiterating a bullish outlook on long-term lithium demand despite the current bearish market and recent price slump of the metal critical for the energy transition. Lithium prices have crashed in recent months, dragged down by piling inventories amid slowing growth in electric …

Saudi Aramco, the largest energy company in the world, granted contracts worth $25 billion for the development of its Jafurah gas project to boost production capability and reduce global warming emissions, reported Bloomberg. The contracts that were awarded include $12.4 billion for the increase in production at the Jafurah gas …

Saudi Aramco, through a wholly owned subsidiary, signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain Ltd, the new global powertrain solutions company, alongside Renault Group, Zhejiang Geely Holding Group and Geely Automobile Holdings Ltd. In a statement, the oil giant said it will buy a 10% …