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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
The Panorama Digital Command Centre at Adnoc HQ in Abu Dhabi. The company is targeting a carbon-capture capacity of 10 mtpa by 2030

Adnoc builds CCS portfolio with Storegga stake

Abu Dhabi’s state oil company, Adnoc, has taken a 10 percent equity stake in Storegga, a UK developer of decarbonisation and hydrogen projects. The deal is Adnoc’s first international equity investment in a carbon management platform. The total amount of the investment was not disclosed. Storegga is one of the joint venture partners behind the Acorn […]

The joint venture between Adnoc Drilling and Alpha Dhabi has invested in Louisiana-based Gordon Technologies

Abu Dhabi joint venture invests in US tech company

An AED5.5 billion ($1.5 billion) joint venture between Adnoc Drilling Company and Alpha Dhabi Holding has made its first investment, buying a $180 million stake in a US engineering company. Adnoc Drilling, a subsidiary of Abu Dhabi National Oil Company (Adnoc), and Alpha Dhabi holding, one of Abu Dhabi’s biggest investment companies, announced the partnership […]

A Saudi Aramco worker at its oil facility in Abqaiq. Arab Light crude will cost $2 less per barrel in February

Riyadh’s price cut fails to halt drop in oil markets

Saudi Arabia’s decision to cut its February oil price is a response to rising supply and competitive pressures in the market, industry analysts have told AGBI. The country, the world’s biggest crude oil exporter, is reducing the official selling price to Asia of its flagship Arab Light crude to the lowest level in 27 months. […]

A worker cycles past Aramco oil tanks in Abqaiq, Saudi Arabia

Opec set for tricky new year: US booms and demand slows

Opec+ has struggled to maintain high oil prices this year and 2023 is ending with Brent trading 10 percent lower year on year and below the crucial $80 break-even mark of GCC countries. 2024 looks likely to be another challenging year for the oil alliance, analysts have told AGBI. Oil demand rose by more than […]

Saudi Aramco employees on site. Indian Oil and Bharat Petroleum plan to import an additional one million bpd each from Saudi Aramco

The big deals that shaped oil and gas in 2023

Throughout 2023, Gulf states sought to ramp up their potential production output, even as thoughts turned to Cop28 and an eventual transition away from hydrocarbons. As the year draws to a close, AGBI looks at some of the biggest deals in the regional oil and gas sector in 2023 Jafurah Basin In Saudi Arabia, Saudi […]

FILE PHOTO: Angola's Minister of Mineral Resources, Petroleum and Gas Diamantino Pedro Azevedo arrives at the OPEC headquarters for a meeting in Vienna, Austria, June 3, 2023. REUTERS/Leonhard Foeger/File Photo

Angola’s Opec exit points to growing divisions on quotas

Angola’s decision to leave the Organisation of the Petroleum Exporting Countries (Opec) over a production quotas dispute will have a limited impact on oil supply but highlights cracks in the organisation’s long-term unity, industry analysts have said. Diamantino Pedro Azevedo, Angolan mineral resources minister, said the African country’s role in the organisation was not deemed […]

Wizz Air has 12 aircraft based in Abu Dhabi, with plans to expand to 50 in the next four to five years

Wizz Air to add more routes after strong year

Wizz Air Abu Dhabi has reported a 150 percent rise in passengers this year. The company, a joint venture between Hungary’s Wizz Air and Abu Dhabi state holding company ADQ, carried 3 million passengers in 2023, up from 1.2 million in the previous 12 months, Johan Eidhagen, the managing director, told AGBI.  It also doubled […]

A Houthi military helicopter flies over the Galaxy Leader cargo ship in the Red Sea

BP and Equinor divert tankers from Red Sea

Two European oil and gas companies, BP of the UK and Equinor of Norway, have joined a group of shipping lines that are diverting their tankers away from the Red Sea, following missile and drone attacks by Yemen’s Houthi militants. BP said in a statement: “The safety and security of our people and those working […]

People dance on the deck of the Galaxy Leader, seized by Yemen's Houthis last month, off the coast of al-Salif

Jet fuel most exposed to Red Sea closure, analysts say

Trade analysts warned on Monday that jet fuel is the commodity most exposed to an interruption of trade in the Red Sea, as the world’s main shipping companies said that they would avoid the waterway because of missile and drone attacks.  Several container shipping lines, including CMA CGM of France, MSC of Switzerland and A.P. […]

Young West African activists demanding action on climate change

Doha-based carbon credit group signs West Africa deal

The Qatar-backed international carbon credit programme Global Carbon Council (GCC) has signed a deal to develop decarbonisation projects in West Africa. The Doha-based GCC signed the agreement at the UN climate conference Cop28 in Dubai last week with the West African Alliance for Carbon Markets and Climate Finance (WAA), a group of 16 West African […]

Morocco energy transition minister Leila Benali

Morocco reveals strategy to speed up energy transition

Morocco is accelerating plans to add 9 gigawatts to its electricity generation capacity – enough power for nearly 8 million homes – with 7GW coming from renewables.  But the country will need to discover or import more gas as it bets on creating a new hydrogen economy, according to Leila Benali, its minister of energy […]

Farhat Bengdara, right, with Eni CEO Claudio Descalzi after LNOC signed an $8 billion deal with the Italian energy company

Libyan Oil Company commits to cut gas flaring

The Libyan National Oil Company is joining the wider global oil and gas industry in committing to near-zero gas flaring by 2030, as part of wider efforts by the state-owned energy producer to reduce greenhouse gas emissions. LNOC chairman Farhat Bengdara said in an interview with AGBI at the UN Cop28 climate conference in Dubai […]

US special envoy John Kerry (centre), with United Nations chief António Guterres and the president of the UAE, Sheikh Mohamed bin Zayed

John Kerry unveils US roadmap for nuclear fusion

John Kerry, the US special envoy on climate, has unveiled his country’s roadmap for international collaboration on nuclear fusion. Speaking on the sidelines of the Cop28 summit on Tuesday, Kerry said he believed fusion could provide abundant clean energy without the harmful emissions of traditional sources. “Fusion can be a critical piece of the energy […]

The Arab Energy Fund says it wants to help the oil-producing countries and the Mena region reach a net-zero future

Arab Energy Fund pledges $1bn for energy transition

The Arab Energy Fund, formerly known as Apicorp, is planning to invest up to $1 billion over the next five years in energy transition, including decarbonisation technologies. Based in Saudi Arabia, Apicorp – the Arab Petroleum Investments Corporation – was founded in 1975 by the ten Arab oil-exporting states. The latest investment announcement is part […]

The Kaombo Norte floating oil platform in Angola.

Market confusion over Opec+ cuts hits oil prices

Oil prices fell further on Friday after tumbling sharply when Opec+ announced more production cuts amid suspicions that quotas will not be adhered to. Brent, the main international benchmark, traded at $80.66, down from $84.37 on Thursday, while West Texas intermediate was flat at $75.94.  Saudi Arabia, Russia and other members of Opec+ announced on […]

Algerian energy minister Mohamed Arkab

Opec+ agrees to cut 2m bpd at delayed meeting

Early reports indicated on Thursday that Opec+ members, led by Saudi Arabia, have agreed at their delayed meeting to cut oil output by nearly 2 million barrels per day, above supply curbs agreed in June. Crude prices rose nearly 1 percent in anticipation of the decision; Brent traded at $82.51. Saudi Arabia, Russia and other […]

Weak global growth in 2024 could prompt further Opec+ cuts if the oil market shifts decisively into surplus, said Fitch Ratings

Oil markets stand by ahead of Opec+ meeting

Oil prices rebounded slightly on Wednesday but uncertainty reigned ahead of Thursday’s Opec+ meeting where the question of temporary cuts is likely to dominate. Brent traded at $82.34 at 15.11 GST, while WTI climbed 1 percent to $77.36, supported by a supply disruption caused in the Black Sea, a weakening dollar, and reduced geopolitical risk […]

A direct-air capture plant in California. Adnoc is working on DAC and other forms of carbon storage in the UAE and abroad

Adnoc seeks to turn carbon capture into revenue stream

In the mountains of Fujairah, in the north of the UAE, an industrial site built by Adnoc sucks carbon directly from the air and converts it into rock. The CO2 is injected into the Hajar mountains, where the peridotite rock is capable of sequestering the greenhouse gas, thanks to technology developed by 44.01, an award-winning […]

Opec secretary general Haitham Al Ghais has responded to the IEA

Opec says IEA has ‘vilified’ oil and gas producers

Opec has hit out at the International Energy Agency, saying the IEA has “unjustly vilified” the oil and gas industry by accusing it of being behind the climate crisis. The organisation of leading oil producers responded on Monday to the IEA’s latest report about the industry’s transition to net zero. Its statement highlighted the divergence […]

Crude oil drips from a well Taqa Kurdistan oil

Fossil fuel company valuations set to take a hit

The International Energy Agency (IEA) has urged the oil and gas industry to actively participate in the fight against climate change by investing more in clean energy, despite the fact the declining demand for fossil fuels will lead company valuations to decrease by up to 60 percent. The IEA predicts that global demand for oil […]

Saudi minister of energy Prince Abdulaziz bin Salman at an Opec meeting in June. It is thought Opec+ members cannot agree on further output cuts

Tensions over quotas and cuts delay Opec+ meeting

Opec+ has postponed its ministerial meeting from this weekend to November 30 amid tension over members’ production levels and plans for further output cuts, industry experts said.  Oil prices extended losses by more than 1 percent on Thursday. Brent traded at $80.93 a barrel at 9.38 GST after a steep 4 percent decline on Wednesday. […]