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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
Adnoc Gas growth Sultan Al Jaber

Adnoc Gas to invest $13bn in domestic and international growth

Adnoc Gas plans to invest more than $13 billion in domestic and international growth opportunities over the next five years, chairman Sultan Al Jaber told the company’s annual general meeting on Monday. Al Jaber said that the company was progressing with several “significant’ projects to accelerate its growth. Predictable margin business was expected to increase […]

An employee inspects a well head in the Yarakta oil field in Siberia. Russia's oil output has been hit by Ukrainian drone attacks on facilities

Oil prices rise again ahead of Opec+ talks on Wednesday

Crude oil prices consolidated on Monday, following a run of increases in the first quarter, fuelled by signs of recovery in China, tighter supplies by the Opec+ producers and geopolitical tensions. Brent was trading slightly higher at $87.28 a barrel in the morning, while West Texas Intermediate rose to $83.45. Brent has gained about 15 […]

Iran gas

Iran’s gas ambitions under pressure

Iran has trebled its natural gas production in 10 years, becoming the largest producer in the Middle East. But Qatar’s expansion of its liquefied natural gas (LNG) production in the world’s largest natural gas field, shared by the two nations, is likely to undermine Tehran’s output ambitions, analysts say. Iran holds the world’s second-largest gas […]

oil industry investment gulf oil installation

Oil industry needs trillions in investment, says Opec chief

The global oil and gas industry needs trillions of dollars in investment to sustain stable supply and meet growing energy demand, the secretary general of Opec has warned. Haitham Al Ghais said this week that the upstream sector needed more than $11 trillion, the downstream sector would need just under $2 trillion, and the midstream […]

US senator John Barrasso and Republican colleagues have said the IEA ' has been undermining energy security by discouraging sufficient investment in energy supplies'

US Republicans call IEA an ‘energy transition cheerleader’

Members of the US Republican Party have hit out at the International Energy Agency, criticising its latest forecasts and accusing it of becoming an “energy transition cheerleader”. Leaders from the Republicans, who hold the majority in the Congress, have opened a joint probe into the Paris-based watchdog this week, accusing the agency of straying from […]

Workers at Emirates Global Aluminium's Al Taweelah refinery. The company is increasingly focused on recycled aluminium

Emirates Global Aluminium buys German recycling business

Emirates Global Aluminium, the UAE’s biggest non-oil industrial company and one of the world’s largest aluminium producers, has signed a binding sale and purchase agreement to acquire a German aluminium recycling business. The transaction to acquire 100 percent of Leichtmetall Aluminium Giesserei Hannover, a subsidiary of an investment fund managed by Quantum Capital Partners, is […]

Arab Energy Fund TAEF solar farm

Arab Energy Fund reveals second year of record income

The Arab Energy Fund, previously known as Apicorp, has announced a second consecutive year of record net income. The fund, which is based in Riyadh and focused on the Mena energy sector, announced net income of $225 million in 2023, up by more than half on 2022’s figure. The Arab Energy Fund (TAEF) said the […]

energy strategy Aramco Amin Nasser

Energy transition strategy ‘visibly failing’, says Aramco CEO

Saudi Aramco’s chief executive believes the current global energy transition strategy is “visibly failing on most fronts” and needs an urgent reset.   Despite $9.5 trillion of investment in the past two decades, other energy sources have still not scaled up sufficiently to offer an alternative to hydrocarbons, Amin Nasser told the CERAWeek by S&P Global […]

Iranian Oil Minister Javad Owji Iran oil contracts

Iran gives local companies $13bn to lift oil output

Iran has announced contracts with local companies worth more than $13 billion to boost its oil output. The sanctions-hit country wants to develop six oil fields to add around 400,000 barrels per day (bpd) and will rely on domestic expertise, Iran’s official news agency, Shana reported on Sunday. The agency said that the deals were […]

Leila Benali, Morocco's minister of energy transition and sustainable development at the 6th United Nations Environment Assembly. She says the country is aiming for 7GW of renewable energy by 2030

Morocco offers new incentives for green hydrogen investors

Morocco has launched new incentives to attract investors in green hydrogen projects. The Rabat government has allotted 1 million hectares (almost 3,900 square miles) of land for new projects as part of its “hydrogen offer,” the office of Morocco’s prime minister, Aziz Akhannouch, said in a statement. The first phase involves making 300,000 hectares of […]

The IEA predicted that world oil demand will grow by 1.3 million barrels per day (bpd) in 2024, but down from growth of 2.3 million bpd in 2023

IEA predicts oil supply will turn to deficit in 2024

Global crude markets supplies will shift from surplus into deficit in 2024, the International Energy Agency (IEA) has predicted, implying higher hydrocarbon prices. The Paris-based watchdog raised its forecast for this year’s oil demand on Thursday on an improved outlook for the US economy and increased bunker fuel use, as attacks by the Houthis on […]

A pump jack in Yates Oilfield in Texas. West Texas Intermediate prices rose to more than $78 a barrel

Oil prices edge up following crude outlook reports

Oil prices rose early on Wednesday, supported by Opec’s encouraging outlook for crude demand and a report by the US Energy Information Administration (EIA) forecasting tighter world oil supplies. Brent prices traded up 1 percent, close to $83 per barrel, while West Texas Intermediate was up the same at just over $78 per barrel. Saudi […]

Saudi Aramco CEO Amin Nasser said no LNG would be produced from Saudi Arabia's natural gas output

Aramco to focus all LNG efforts on overseas projects

Saudi Aramco intends to expand its liquefied natural gas (LNG) business internationally, as it plans to use all its natural gas production domestically. CEO Amin Nasser told investors on Monday that the energy major has no intention of building LNG capacity in the kingdom and is discussing opportunities with different entities in the US, Australia […]

Adnoc Ruwais LNG

Ruwais LNG will push UAE up the energy table

Abu Dhabi is planning to increase its presence in the liquefied natural gas market, helping it to diversify away from oil. Ruwais LNG, a new terminal located in Al Ruwais Industrial City, will increase the emirate’s capacity from 5.7 million tonnes per year (mpta) to 15 mpta.  The project features two 4.8 mtpa LNG trains, […]

Adnoc's command centre in Abu Dhabi. The company is using AI to streamline routine maintainance activity

Adnoc claims AI generated $500m in extra value

The Abu Dhabi state oil company Adnoc said it generated $500 million (AED1.84 billion) in extra value by using artificial intelligence solutions in 2023. The energy major has deployed more than 30 AI tools across its value chain, from field operations to corporate decision-making, in an effort to increase efficiency and productivity. “We have integrated […]

Male factory worker inspecting quality rolls of galvanized or metal sheet in in aluminum material warehouse. Male worker working in warehouse of raw materials during manufacturing process in plant

Emirates Global Aluminium profit falls with metal prices

Emirates Global Aluminium (EGA), the UAE’s largest non-oil industrial company and one of the world’s largest aluminium producers, reported a decline in net profit last year, despite posting record production volumes of alumina, cast and hot metal for 2023. Net profit fell 54 percent year on year to AED3.4 billion ($937 million), against a backdrop […]

A green hydrogen plant in China. The Neom Green Hydrogen Company intends to produce 8 tonnes a day.

Neom to produce first green hydrogen this year, CEO says

Saudi Arabia’s mega-city Neom is set to produce its first green hydrogen this year, a senior executive has confirmed. Wesam Alghamdi, chief executive of Neom Green Hydrogen Company (NGHC), told a conference in Dubai last week that the Hydrogen Innovation Development Centre will produce eight tonnes of green hydrogen a day on launch this year. […]

Haitham Al Ghais, secretary general of Opec. The organisation has extended its voluntary output cuts, led by Russia and Saudi Arabia

Opec extends voluntary cuts to support oil market stability

Opec+ producers led by Saudi Arabia and Russia have stretched their additional voluntary crude supply cuts for another three months, as the oil bloc strives to support the stability and balance of sluggish markets. Oil prices traded flat Monday morning after a slight spike following the Opec announcement. Brent crude traded around $83.50 per barrel. […]

Accessories, Formal Wear, Tie

Hydrogen-producing nations told to put local use first

Hydrogen-producing nations should put local use of the green fuel ahead of exports, a conference in Dubai has been told. Francesco La Camera, director general of the International Renewable Energy Agency (Irena), said making hydrogen a major global export commodity is only a medium to long term prospect. Instead, he said, hydrogen-producing nations should follow […]

Sultan Al Jaber, Adnoc group chief executive

Adnoc buys 25% of Austrian chemical group OMV

Abu Dhabi state oil company Adnoc has formally closed the acquisition of a 25 percent stake in Austrian energy and chemicals group OMV. The energy giant bought the stake from UAE sovereign wealth fund Mubadala Investment Company.  Financial details were not disclosed. Österreichische Beteiligungs AG, an Austrian independent holding company, holds 31 percent in OMV, […]

An employee at Aramco's Fadhili gas plant. The upgraded master gas system is intended to meet Saudi Arabia's growing domestic demand

Aramco embarks on $10bn expansion of gas network

Saudi Arabia’s master gas system, one of the world’s largest hydrocarbon networks, is getting a $10 billion upgrade as the kingdom bolsters its energy infrastructure to support growing domestic gas demand. State oil and gas company Saudi Aramco has selected contractors for engineering, procurement and construction works on 16 of 17 programme packages. The project […]

A market worker in Cairo stands under a pro-President Sisi banner. The ADQ deal has raised hopes that Egypt's economy can rebuild

Abu Dhabi’s $35bn throws Egypt a liquidity lifeline

A $35 billion investment by Abu Dhabi sovereign wealth fund ADQ to develop a resort on Egypt’s north coast could cover the country’s liquidity needs for the next three to four years, analysts have said. Mostafa Madbouly, the Egyptian prime minister, said on Saturday he had signed an agreement with ADQ to develop a site […]