Artificial Intelligence Adnoc signs $340m AI contract with Abu Dhabi’s AIQ Adnoc, the Abu Dhabi National Oil Company, has awarded a $340 million contract to AIQ, a joint venture with Presight, a data analytics company based in Abu Ahabi, to introduce autonomous artificial intelligence, or agentic AI, across its upstream operations. The three-year agreement involves deploying EnergyAI, software that uses agentic AI to analyse large amounts […] March 11, 2025
Video length: 02:23 Opinion Oil & Gas Triumphalism is king on day 1 of CERAWeek in Houston The 'oilman's Davos' kicks off with a nod to Elvis March 11, 2025
Oil & Gas Oil prices slip below $70 as US recession fears linger Oil prices fell for a second day on Tuesday, as concerns mounted over a potential US recession, the impact of tariffs on global growth and as Opec+ sets its sight on ramping up supply. Brent futures fell 6 cents, or 0.1 percent, to $69.22 a barrel at 04:02 GMT, while US West Texas Intermediate crude […] March 11, 2025
Oil & Gas Iraq ramps up LNG import projects after US ends Iran waiver Iraq is ramping up development of an offshore liquefied natural gas terminal and a 40km pipeline, as Baghdad seeks to import more LNG following a US decision to end the country’s exemption to restrictions of the purchase of gas from Iran, according to local media. Ali Shaddad, a member of the parliament’s oil and gas […] March 10, 2025
Renewable Energy Acwa Power bolsters renewables presence in China Saudi Arabian energy company Acwa Power has opened a renewable-energy innovation centre in Pudong New Area in Shanghai. The move is part of the company’s aim to expand its renewables presence in China, according to a statement. The new facility will focus on five areas: photovoltaics, wind, energy storage, green hydrogen and seawater desalination, Acwa […] March 10, 2025
Oil & Gas Adnoc targets foreign listing of investment arm XRG Abu Dhabi National Oil Company (Adnoc) is considering listing its international investment arm XRG on an exchange outside of the UAE, three people with knowledge of the matter said. This could potentially create one of the largest listed energy companies in the world. The discussions to list a minority stake of XRG, which was established late […] March 10, 2025
Oil & Gas UAE and Saudi Arabia cut prices of flagship crude State-owned oil companies in the UAE and Saudi Arabia have lowered their benchmark crude oil prices. Saudi Aramco, the world’s top oil exporter, lowered crude oil prices for Asian buyers in April for the first time in three months, in line with market expectations and after Opec+ agreed to gradually increase supply in the same […] March 10, 2025
Opinion Oil & Gas Yeehaaw! I’m going back to Houston for the ‘Oil Man’s Davos’ Are Donald Trump and the oil industry on the same page? Stay tuned March 7, 2025
Opinion Economy Aramco’s $40bn dividends drop highlights Saudi spending The shortfall is a blow to ambitious projects and reducing dependence on the oil giant's profits March 7, 2025
Analysis Oil & Gas Aramco focuses spending on gas and Jafurah fields Saudi Aramco, the world’s largest oil company by value, has said it is focusing its spending on developing natural gas over oil reserves because of higher returns. The Saudi kingdom, the world’s second-largest oil producer after the US, is developing its gas reserves to supply its petrochemical and fertiliser industries and to power its electricity-generating […] March 7, 2025
Renewable Energy TotalEnergies starts building Iraq’s largest solar plant France’s TotalEnergies has started constructing Iraq’s largest solar power plant as part of a $27 billion energy deal it signed in 2023. The plant, based in the southern oil hub of Basra, has a production capacity of 1,000 megawatt (MW) and includes installing two million solar panels, the official news agency said, citing an Electricity […] March 7, 2025
Renewable Energy Dewa seeks developers for new phase of solar project Dubai Electricity and Water Authority (Dewa), which trades on the Dubai stock exchange, is seeking global companies to develop the 1,600 megawatt (MW) seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park, according to the national news agency Wam. The phase, which is expandable to 2,000 MW, sufficient to power about 1.6 million homes, […] March 7, 2025
Oil & Gas Oil set for biggest weekly drop since October Oil prices were little changed on Friday but were set for their biggest weekly decline since October as the uncertainty around US tariff policy creates concerns about demand growth when major producers are set to increase output. Brent futures rose 13 cents, or 0.19 percent, to $69.59 a barrel by 02:17 GMT. US West Texas Intermediate (WTI) crude futures rose 8 cents, […] March 7, 2025
Renewable Energy Gulf companies win slice of $32bn Morocco hydrogen projects The Moroccan government has selected companies from the UAE and Saudi Arabia to help develop hydrogen projects worth MAD319 billion ($32 billion) in the country’s southern province, the prime minister’s office has announced. A government committee finalised five local and global investors to build six projects, said a statement from the office of Aziz Akhannouch, […] March 7, 2025
Oil & Gas Qatar-US LNG export project back on track A liquefied natural gas export project co-owned by Qatar won approval from the Trump administration to have its starting date permit extended by three years on Wednesday. The Golden Pass LNG project in Texas, co-owned by the state-run QatarEnergy LNG and Exxon Mobil Corp, was required to commence operations by November 30, 2026. Negotiations to […] March 6, 2025
Oil & Gas Aramco explores potential bid for BP’s Castrol unit Saudi Aramco is in the early stages of considering a potential bid for BP’s lubricant business Castrol, according to a person with knowledge of the matter. BP has been exploring all options around its Castrol business, including a possible sale, as part of a strategic review. The business would be expected to be worth around $6 billion to […] March 6, 2025
Energy Aramco slashes blue ammonia output to reduce costs Saudi Aramco has scaled down its low carbon ammonia production target by 80 percent because of high costs and low demand. The company has adjusted its production objective from 11 million tonnes per annum (mpta) by 2030 to 2.5 mpta, it has said. The new target is still subject to the availability of commercially viable […] March 6, 2025
Analysis Oil & Gas US energy push bodes well for GCC’s LNG interests Since his return to the Oval Office, Donald Trump has moved aggressively to unleash a new era for the American energy sector. Last month, he established a National Energy Dominance Council, tasked with expediting projects by cutting red tape and promoting private-sector investment. He has also lifted a moratorium on liquefied natural gas (LNG) export […] March 5, 2025
Analysis Oil & Gas Saudi deficit to rise after $40bn loss in Aramco oil dividends A projected 30 percent drop in Saudi Aramco’s oil dividends in 2025 is likely to force the government and state-owned Saudi Public Investment Fund to step up borrowing to fund infrastructure and other projects under the kingdom’s Vision 2030 economic and social strategy, analysts say. The world’s largest oil company intends to cut dividends to […] March 4, 2025
Oil & Gas Swathe of new oil and gas sites opened to bids in Egypt Egypt has invited international companies to bid to develop 13 new oil and gas sites in the Mediterranean Sea, the Gulf of Suez and the western desert as the country seeks to reverse a fall in natural gas production. The bids cover concessions that include seven undeveloped discoveries and six exploration areas, according to the […] March 4, 2025
