Saudi Arabia’s state-run energy firm is splitting its gas production division in two, as the fuel becomes increasingly important for expanding its chemicals business and amid efforts to position itself for the energy transition. The Saudi Arabian Oil Company (Saudi Aramco) will create two new divisions, named Southern Area Gas …
Read More »Gazprom’s Revenue Surges 84% on Booming Gas Exports
The gas export proceeds of Russian energy giant Gazprom between January and July grew 1.8 times compared with the same period of the previous year and amounted to over $23 billion, according to Russia’s Federal Customs Service. Statistics showed that the physical volume of gas exports during the reported period …
Read More »Equinor Gearing up for North Sea Well Duo
The Norwegian Petroleum Directorate (NPD) has granted Equinor a drilling permit for a wildcat and an appraisal well in the North Sea off Norway. The NPD said on Thursday that wells 35/10-7 S and A will be drilled from the West Hercules drilling rig. The drilling programme for wells 35/10-7 …
Read More »Saudi Aramco Inks New Pacts in Sustainability, Technology and Energy Services
As part of its diversification drive, the world’s biggest oil producer, Saudi Arabian Oil Co. (Saudi Aramco) signed 22 new pacts and a joint venture agreement with leading global firms in sectors such as sustainability, technology, industrial and energy services. This comes amid a growing focus on environmental, social and …
Read More »UAE Oil Producer ADNOC Plans to Divest Stake in Drilling Unit
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 …
Read More »Russia’s Gazprom Ramps up Production as Gas Exports Surge
Russian state-run energy giant Gazprom has increased output of natural gas by nearly 18% in the first eight months of the current year, compared to the same period a year ago. The gas producer said its output totaled 337.2 billion cubic meters, marking a year-on-year growth of 17.9%, according to …
Read More »Shell Takes Operatorship of 2 Blocks Offshore South Africa
Africa-focused exploration company Impact Oil & Gas Limited has completed the farm-out of 50 percent working interest and operatorship in the Transkei & Algoa exploration right offshore South Africa to oil major Shell. Impact Oil & Gas stated that the transaction was completed between its wholly owned subsidiary Impact Africa …
Read More »CNOOC Sets out to Develop China’s First Offshore Carbon Capture Project
China’s offshore oil and gas major CNOOC has initiated a carbon capture and storage (CCS) project at its Enping 15-1 oilfield in the South China Sea, making it the country’s first venture into offshore CCS plays. The project involves building facilities to capture up to 300,000 tonnes of CO2 per …
Read More »Gazprom and OMV Discussed the State and Prospects of Cooperation
A working meeting between Alexey Miller, Gazprom´s CEO, and Rainer Seele, CEO of OMV, took place on Friday in Russia. The parties expressed appreciation for the strategic cooperation between Gazprom and OMV, noting in particular their successful collaboration on the development project for the Yuzhno-Russkoye field. The field’s annual design …
Read More »Lukoil Plans to Ramp up Oil Output at West Qurna 2 Field to 480,000 b/d in 2022
Russia’s second-largest crude oil producer Lukoil hopes to increase oil output at the West Qurna 2 project in Iraq to 480,000 b/d next year, the company said during a conference call Aug. 27. Lukoil had previously considered quitting the project in the country due to the current investment climate, but …
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