Skip to content Skip to Search
Skip navigation

Eva Levesque

Senior editor

Eva Levesque is senior editor at AGBI, focusing on the energy sector. She is also a TV and radio managing producer and formerly worked at MEED

Eva Levesque
renewables target dam

World is off track to meet Cop28 renewables goal

The world is far from reaching its 2030 renewables target, the International Renewable Energy Agency (Irena) said on Thursday. Countries committed at the Cop28 summit in Dubai last year to treble renewables capacity in order to limit global warming to 1.5C. To stay on course global capacity growth needs to accelerate to a minimum rate […]

Egypt arrears foreign companies power cuts students

Egypt pays $1.3bn arrears to foreign oil and gas companies

Egypt cleared $1.3 billion of outstanding payments to foreign oil and gas companies operating in the country in June and has established a plan to reimburse the remaining dues within the next month, according to the government. The payment accounted for about 20 to 25 percent of the arrears owed to the companies, Prime Minister […]

An Iranian oil production platform at the Soroush offshore fields

Iran’s oil keeps flowing – and that suits the US for now

Iranian oil exports are hitting record highs despite Western sanctions, delivering a windfall of $35 billion a year to the government in Tehran. Energy analysts expect this to continue, given the big discounts on Iranian crude and the effects of the conflict in Ukraine. “Iran has been a beneficial influence in offsetting impacts of war,” […]

Aramco debt Dammam exhibition centre

Aramco returns to debt markets after shares sale

Saudi Aramco returned to the debt market on Wednesday, offering bonds maturing in 10, 30 and 40 years and aiming to raise at least $6 billion. The company is looking to capitalise on investors’ interest in its secondary share offering by raising more cash to finance its debt and a huge investment programme. Final terms […]

Adnoc LNG Ruwais

Energy giants to take 40% of Adnoc LNG plant

Energy giants from France, the UK and Japan are expected to take stakes in the Ruwais liquefied natural gas project, run by Abu Dhabi National Oil Company. TotalEnergies, Shell, BP and Mitsui are expected to each take 10 percent of the project, which received a final investment decision last June. The Al Ruwais plant will […]

Tugboats at work with an oil tanker in Fujairah, from which Adnoc's Murban crude is delivered

UAE’s Murban crude futures trade at record high

Murban crude, the UAE’s flagship oil grade, has reported a record jump in trading activity in the second quarter of this year, according to operator the Intercontinental Exchange (ICE). Murban, the premium-grade light, sweet crude, is extracted from the onshore concessions of Abu Dhabi state oil company Adnoc and represents more than half of the […]

A Santos-owned rig in the Bass Strait south-west of Melbourne, Australia

Aramco says Santos is not a target

Saudi Aramco has denied reports that it was considering a bid for Santos, Australia’s second-largest oil and gas producer. In an emailed statement to Reuters, the Saudi oil giant said the information was inaccurate. The UAE’s Adnoc told AGBI that the company has no “comments on this report”. Earlier this week, Bloomberg reported that state-backed […]

Blackouts are a common occurence across Egypt as the country wrestles with its energy crisis

Temporary LNG fix masks Egypt’s energy crunch

The first two liquefied natural gas cargos arrived at the Egyptian port of Ain Sokhna on the Red Sea this week, bringing hope of relief to a suffocating population trapped in the summer heat and suffering now daily blackouts. However, this temporary fix is unlikely to resolve Egypt’s energy crunch in the long term.  Falling […]

Oil workers on a rig in Libya's Sirte basin. The country's energy infrastructure needs large-scale investment, say analysts

With or without foreign help, Libya’s 2m-barrel goal looks tough

Libya is hoping to double its crude oil production over the next three to five years, but analysts have warned that a lack of investment and the political crisis that has led to the country having two rival governments are jeopardising those plans. The country’s National Oil Corporation (LNOC) announced in June that it would […]

The Leviathan field holds as much as 600 billion cubic metres of gas and Israel is aiming to increase output and exports

Israel’s gas export plans complicated by war

Israel has agreed a move to double its natural gas exports from the Leviathan reservoir, but experts warn that tension with Hezbollah and a potential escalation in Lebanon may undermine expansion plans. The Israeli government is seeking additional revenues to improve an economy that has been badly hit by the war in Gaza. The energy […]

A ship at Porth Arthur, Texas. The port provides direct access to the Gulf of Mexico for LNG from the Sempra facility

Aramco ventures further into US LNG market

Saudi Aramco continues its push into the US liquefied natural gas sector with an initial agreement to buy a stake in Sempra’s Texas LNG export plant and for the supply of the fuel. Aramco has signed a non-binding agreement to buy 5 million tonnes per year of LNG for 20 years and a 25 percent […]

An EGA employee looks out over its Al Taweelah facility in Abu Dhabi. The electricity used in aluminium smelting makes up 60% of its carbon footprint

Adnoc, Emirates Global Aluminium and the outlook for net zero

It is a tall order. The UAE is striving to develop its industrial capacity while also decarbonising in a world that needs a 40 percent-plus reduction in emissions by the end of the decade to avoid devastating climate change. Two of the country’s biggest state-owned enterprises – Adnoc and Emirates Global Aluminium (EGA) – are […]

Covestro CEO Dr Markus Steilemann. The company has rejected two previous offers from Adnoc

Adnoc makes final bid for German chemicals maker

German chemical company Covestro AG has confirmed that it has started “concrete negotiations” over a $12.5 billion offer from Abu Dhabi National Oil Company (Adnoc). Covestro said in a statement that Adnoc had offered €62 ($67) a share as a starting point for the negotiations, which are subject to the completion of due diligence. In […]

Saudi Aramco's Haradh gas plant. Saudi Arabia's two new power stations will provide four gigawatts of electricity combined

Saudi Arabia signs $1.5bn deal for gas-powered plants

Saudi Arabia has signed a $1.5 billion agreement with Siemens Energy of Germany to supply technology for two new gas-fired power plants. The Taiba 2 and Qassim 2 power stations in the west and central regions of the kingdom will produce four gigawatts of electricity combined – enough to power around three million homes. The […]

Gas flaring at a plant in Veracruz state, Mexico. The country is one of the biggest contributors to global flaring, along with Iran, Iraq and Libya

Iran, Iraq and Libya among worst offenders on gas flaring

Environmentally ruinous flaring of gas at upstream oil and gas facilities has risen to its highest level for five years, despite pledges to end the practice, the World Bank has said. Iran, Iraq and Libya were among the biggest contributors in 2023, according to a World Bank report published on June 20. Along with six […]

A floating production unit in Israel's Karish gas field in the eastern Mediterranean. Carlyle is creating a new oil and gas company to manage the field

New Carlyle entity to manage East Med gas projects

Carlyle, the Nasdaq-listed private equity company, is creating a new oil and gas company to manage recently-acquired assets in the Mediterranean hydrocarbons market. The new as yet un-named entity will be led by former BP CEO Tony Hayward and will manage a portfolio of gas-weighted exploration and production assets in Italy, Egypt and Croatia, according […]

Wind turbines above the village of Kotronas in the Peloponnese region. Greece's Terna Energy invests in wind, solar, hydroelectric and pumped storage projects

Masdar buys Greece’s biggest investor in renewables

The UAE’s state-owned clean energy company Masdar is to acquire a majority share in Terna Energy of Greece. The initial deal – one of the largest in the European renewables market and the biggest ever energy transaction on the Athens Stock Exchange – is for a 67 percent stake. The price of €20 ($21.45) per […]

A wheel manufacturing workshop in Qingzhou, Shandong province. China is the world's largest importer of crude oil

Upturn for manufacturing tipped to lift oil prices

Rising manufacturing activity worldwide is likely to support higher oil prices in the second half of the year, a supply chain indicator suggests. However, analysts have warned that spare capacity among Opec+ and other oil producers is likely to ease upside pressure on crude prices. The GEP Global Supply Chain Volatility Index hit 0.21 in […]

Shell Aramco LNG

Shell beats Aramco in race to buy LNG business

Saudi Aramco, the world’s biggest oil exporter, has lost out to UK rival Shell in its bid to buy Pavilion Energy, a Singapore trader of liquefied natural gas (LNG), from Temasek, the Asian island nation’s sovereign investment fund. Both companies were shortlisted for a potential acquisition worth billions of dollars. No financial details of Shell’s […]

Opec Secretary General Haitham Al Ghais says peak oil 'is not on the horizon'

Upstream oil and gas ‘needs more annual investment’

Annual capital expenditure for exploration and production in the upstream sector of the oil industry needs to increase by 22 percent by 2030 because of growing demand and cost inflation, experts say. A cumulative $4.3 trillion needs to be invested between 2025 and 2030, according to a report by the International Energy Forum (IEF) and […]

People swim in Iceland's Blue Lagoon hot spring in front of a geothermal power plant. Reykjavik Geothermal is working with Taqa in Saudi Arabia

Saudi summons energy to unearth geothermal potential

A Saudi Arabian university has completed drilling a research well as the kingdom steps up efforts to harness its geothermal potential – which industry experts estimate could free up to 1 million barrels of oil a day for export. The 400m deep observation well was drilled by a team from King Abdullah University of Science […]

Opec has kept its oil demand growth forecast at 2.2 million bpd

Opec and IEA poles apart on oil supply predictions

Opec and the Paris-based International Energy Agency (IEA) have this week both issued reports with vastly differing predictions for the outlook for global crude production in the coming years. However, the opposing organisations agree on one thing: that China will be the determining factor in production and prices this year. In its latest annual medium-term […]