Companies

Brazilian-controlled oil company Petrobras has high hopes for increasing its refining capacity and its Curacao pre-salt discovery, company officials said on Friday. In a Friday webcast for investors, Petrobras director of industrial processes and products William Franca said that the company has the potential to increase its refining capacity by …

Abu Dhabi’s main energy company will sell a 15% stake in its logistics and shipping unit in an initial public offering, kicking off the second listing of one of its businesses this year. Abu Dhabi National Oil Co. will offer about 1.11 billion shares in Adnoc Logistics & Services, it …

French TotalEnergies is set to launch long-awaiting drilling offshore Lebanon in Q3 of this year, with the restive, energy-starved country now awaiting news of a potential first discovery by the end of 2023. The consortium drilling offshore Lebanon in Block 9 is led by TotalEnergies, with partners Italian Eni and …

Saudi Aramco said it will introduce performance-linked dividends that will be paid out in addition to its base dividend, which was $19.5 billion for the fourth quarter. The new payout will be “in the amount of 50%-70% of Saudi Aramco’s annual free cash flow, net of the base dividend and …

China Petroleum & Chemical Corporation (“Sinopec”) has initiated the drilling of Project Deep Earth 1-Yuejin 3-3XC Well on May 1 in the Tarim basin, Xinjiang Uyghur Autonomous Region. With a design depth of 9,472 meters, it will be the deepest oil and gas well in Asia and a breakthrough of …

PetroChina has become the only one of China’s three national oil companies to report a year-on-year increase in first-quarter net profit thanks to strong upstream production and rising sales of refined products.

Saudi Aramco Base Oil Company, known as Luberef, posted net income of 446 million riyals ($118.92 million) for the first quarter, up from 303 million riyals a year earlier, it said in a statement. The company, which listed 30% of its shares in an IPO in December, reported revenue of …

French firm TotalEnergies has signed a contract to begin drilling and exploring for gas this year in waters off crisis-hit Lebanon, the company said in a statement. “TotalEnergies in agreement with its partners Eni and QatarEnergy has signed a firm contract with Transocean to hire the drilling rig that will …

Sinopec and TotalEnergies SE are among companies holding talks to invest in the Jafurah development in Saudi Arabia, according to people familiar with the matter, as the kingdom seeks to exploit one of the world’s largest untapped gas fields. The Chinese and French energy giants are in separate discussions with …

Saudi Arabian Oil Group, Saudi Aramco has emerged as the second largest company in the world after displacing Microsoft. After displacing Microsoft to become the second largest company in the world, it only has to displace Apple to become the largest company in the world. According to reports, Aramco’s current …