Companies

Saudi Power Procurement Company (SPPC) has announced that a total of 21 top global utility project developers including Siemens, Samsung, GE, EDF, Korea’s Kepco and Marubeni as well as regional heavyweights Acwa Power and Taqa have been prequalified for development of four power plants across the kingdom with a total …

Eni SPA said it is awaiting government clearance to begin construction of its third biofuel production plant in Italy, proposed to rise in the port city of Livorno. “The project, first announced in October 2022 and followed by an application for Environmental Impact Assessment in November 2022, is awaiting official …

Saudi Arabia’s energy ministry instructed the oil giant to increase production to 13 million barrels per day on Tuesday. Saudi Arabia’s oil giant Saudi Aramco said on Tuesday that it will not try to increase its maximum daily oil production to 13 million barrels a day after receiving an order …

China National Offshore Oil Corporation (CNOOC) is targeting net production of 700 million to 720 million barrels of oil equivalent (MMboe) in 2024. The production will be divided into 69 percent for China and 31 percent for overseas accounts, the state-owned oil company said in a recent news release. CNOOC …

Growth in global gas demand is set to pick up this year due to colder winter temperatures and easing prices, with emerging economies leading the increase in consumption, but geopolitical risks and supply-side concerns could trigger renewed price volatility, according to the IEA’s latest Gas Market Report. In 2023, global …

Shortly after achieving 1 billion barrels of total oil production the West Azeri platform, one of the seven Azeri-Chirag-Gunashli (ACG) production platforms in the Caspian, BP kicked off a new 4D seismic program on the ACG field on January 20, 2024. According to the oil major, this is its largest-ever …

LG Chem Ltd. and Eni SPA have signed a joint venture agreement for a planned biorefinery in South Korea, toward a final investment decision expected later this year. The project is planned to rise in the town of Daesan on the west coast of the country where local company LG …

TotalEnergies has bought a majority stake in two offshore wind projects in Denmark from European Energy and both companies agreed to cooperate on offshore wind auctions in the Scandinavian nation. Under the agreement, the French energy company takes an 85% stake in the 240 MW Jammerland Bugt project and a …

After boosting oil production to above 500,000 barrels per day in five years, the world’s newest crude oil exporter, Guyana, looks to develop its significant natural gas resources, too. ExxonMobil, whose consortium currently pumps all of Guyana’s crude oil, is positioning itself to explore and understand the natural gas reserves …

Saudi Aramco is more than doubling funding to its venture capital arm by injecting an additional $4 billion funding, the Saudi state oil giant said on Wednesday. The fresh funding will raise Aramco’s total investment allocation to its unit Aramco Ventures from $3 billion to $7 billion. The decision to …