ADNOC, the national oil company of Abu Dhabi, is expanding its natural gas production capacity and increasing investments to target Europe’s gas markets. As one of the Middle East’s largest energy producers, ADNOC aims to meet the growing international demand for LNG by becoming a net-exporter of gas. The company …
Read More »ADNOC, BP Form Natural Gas Partnership to Purchase Israeli Energy Company for $2 Billion
BP Plc and Abu Dhabi National Oil Co. will form a natural gas joint venture and have made an offer to take Israel’s NewMed Energy private in a deal worth around $2 billion. The move will deepen BP’s presence in the eastern Mediterranean and mark ADNOC’s first venture into the …
Read More »Eni, ADNOC Ink Pact to Cooperate in Renewables, Hydrogen, Carbon Capture
Italy’s Eni and the UAE’s Abu Dhabi National Oil Co. have signed a memorandum of understanding to explore collaboration in the development of renewable energy, blue and green hydrogen and carbon, capture and storage amid ADNOC’s plans to hit net zero scope 1 and scope 2 emissions by 2050. The …
Read More »ADNOC Gas Eyes $2 Billion from World’s Biggest IPO this Year
The United Arab Emirates’ national oil company wants to raise up to $2 billion from its natural gas business in what is set to be the largest initial public offering so far this year. Abu Dhabi National Oil Co. is selling a 4% stake in ADNOC Gas, with each off …
Read More »ADNOC Makes First LNG Shipment to Germany from the Middle East
Abu Dhabi National Oil Co. made the first LNG delivery from the Middle East to Germany, with the UAE’s national oil company calling it a “milestone.” The delivery of 137,000 cu m of LNG is the commissioning cargo for the Elbehafen floating LNG terminal in Brunsbüttel, ADNOC and utility RWE …
Read More »ADNOC Eyes Valuation of at Least $50 bln for Its Gas Business
The Abu Dhabi National Oil Company (ADNOC) is eyeing a valuation of at least $50 billion for its gas business slated to float this quarter, two sources familiar with the matter said, setting the stage for one of the most highly anticipated stock market listings this year. The state oil …
Read More »Offshore Rigs Set for very Busy Year in 2023
Rig activity stood out in several regions in 2022 and there is no reason to expect anything different in 2023, Westwood Energy believes. In 2022, offshore rig activity for both jack-ups and floating rigs was robust in several key regions of the world. Global marketed jack-up utilization increased from 87% …
Read More »UAE Companies Explore Production of Sustainable Aviation Fuel with BP
United Arab Emirates renewable energy company Masdar, state oil firm Abu Dhabi National Oil Company (ADNOC) and oil major BP, reports Reuters. BPL agreed to conduct a joint feasibility study on exploring the production of sustainable aviation fuel (SAF) in the UAE, Masdar said in a statement on Friday. The …
Read More »Adnoc to Invest $15bn in Low Carbon Drive
Adnoc has set out a plan to invest $15 billion into low carbon energy by 2030. The plan covers investments in clean power, carbon capture and storage (CCS), electrification of work and tackling gas flaring. Adnoc head Sultan Ahmed Al Jaber said the company would “fast-track significant investments into landmark …
Read More »UAE to Expand Oil & Gas Production Capacity with $150 Billion Investment
With oil tumbling ahead of the grueling 2023 recession, the last thing OPEC+ and (bullish) oil traders wanted to see is even more supply coming on line, and yet that’s precisely what the core gulf hub is proposing. According to Bloomberg, the United Arab Emirates – which in recent years …
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