Oil & Gas Oil holds near one-month high amid supply woes Oil prices held near one-month highs on Friday and were poised for a third weekly gain on a tightening global supply outlook after the US imposed tariffs against countries buying oil and gas from Venezuela and placed restrictions on Iranian oil trade. Brent crude futures dipped 8 cents, or 0.1 percent, at $73.95 a barrel as […] March 28, 2025
Oil & Gas Oil output increase of 30% sought in Oman block offer Oman is planning to offer 11 new oil concession blocks across the country this year, as it seeks to raise production by a third by the end of the decade. The ministry of energy and minerals, through the state-run company OQ Exploration and Production (OQEP) and the Canadian-based Scotiabank, have started marketing the potential blocks. […] March 27, 2025
Oil & Gas Saudi Aramco considering investment in Indian refineries Saudi Aramco is in talks to invest in two planned refineries in India as the world’s top oil exporter looks for a stable outlet for its crude in the world’s fastest-growing emerging market, several Indian sources with direct knowledge of the matter said. India, the world’s third-biggest oil consumer and importer, wants to become a […] March 27, 2025
Energy Oil’s share of energy demand dips below 30% for first time Oil’s share of the global energy mix has hit a historic low, dipping below 30 percent of demand for the first time as renewables and electric vehicles reshape markets, according to the International Energy Agency. The IEA’s Global Energy Review 2025 reveals that energy demand rose by 2.2 percent last year, outpacing the average yearly […] March 26, 2025
Renewable Energy Aramco buys 50% of local blue hydrogen producer Saudi Aramco has purchased a 50 percent stake in a low-carbon hydrogen production plant in Jubail, a city on the Gulf, owned by a unit of the Saudi Arabia-based company Air Products Qudra (APQ). The stake buyout will enable Blue Hydrogen Industrial Gases Company (BHIG), a wholly owned subsidiary of APQ, to provide blue hydrogen […] March 26, 2025
Renewable Energy Masdar weighs IPO on Abu Dhabi stock exchange Abu Dhabi’s state-owned renewables company Masdar is in the early stages of considering an initial public offering (IPO), three people with knowledge of the matter told Reuters. The company is considering a possible listing in Abu Dhabi to raise funding for renewable projects, said two of the sources, with one of them saying a dual […] March 26, 2025
Renewable Energy Tunisia awards solar power projects to international companies Tunisia has awarded four new solar power projects to international companies for the production of 500 megawatts of electricity as part of a drive to expand the share of renewable energy in its mix. Tunisia’s industry, mines and energy minister Fatima Chiboub signed the deals this week with representatives from Germany’s Qair Group, Norway’s Scatec, […] March 25, 2025
Oil & Gas Aramco looks at China’s potential growth sectors Saudi Aramco is exploring new opportunities in China’s energy, chemicals and technology sectors, president and CEO Amin Nasser has said. China occupies a key position in Aramco’s global strategy, he told the China Development Forum in Beijing on Monday. The Saudi-listed company is supporting China’s energy and chemical feedstock security by investing in multiple downstream projects, Nasser […] March 25, 2025
Oil & Gas QatarEnergy selects India’s L&T for gas project A subsidiary of state-owned QatarEnergy has reportedly awarded an engineering, procurement, construction and installation (EPCI) contract to India’s Larsen & Toubro for the second phase of the North Field Production Sustainability (NFPS) project. Larsen & Toubro Energy Hydrocarbon received a letter of intent from QatarEnergy LNG for the work, which has an estimated value of $4 […] March 25, 2025
Oil & Gas Taqa in talks to buy stake in Spanish utility Naturgy Abu Dhabi National Energy Company (Taqa) is reportedly in talks with Spanish private equity group CriteriaCaixa to acquire a stake in Naturgy Energy Group. Taqa chairman Mohamed Hassan Alsuwaidi recently met with an unnamed Criteria executive to discuss a potential deal, Bloomberg reported. Criteria, which holds 26.7 percent of €24 billion ($26 billion) Naturgy, has […] March 25, 2025
Oil & Gas Opec+ on track for May production rise Opec+ will probably stick to its plan to raise oil output for a second consecutive month in May, four sources told Reuters, amid steady oil prices and plans to force some members to reduce pumping to compensate for past overproduction. Opec+, a group that includes Opec and allied producers led by Russia, and which pumps over 40 […] March 25, 2025
Renewable Energy UAE’s Masdar expands renewable energy footprint Abu Dhabi renewable energy company Masdar invested nearly AED30 billion ($8.2 billion) in equity last year and secured more than AED16.5 billion in project financing across nine countries. The company, which is targeting a renewable energy portfolio capacity of 100 gigawatts by 2030, has developed and partnered in projects in more than 40 countries, the […] March 24, 2025
Energy Orascom wins $2.6bn contract for Saudi power plant A consortium comprising Egypt-listed Orascom Construction and Spain’s Técnicas Reunidas has signed a contract to build a 3 gigawatt gas-fired power plant in Saudi Arabia’s Eastern Province. The consortium signed an engineering, procurement and construction contract worth around $2.6 billion for expanding the Qurayyah independent power project, Orascom said in a statement on Monday. In […] March 24, 2025
Oil & Gas UAE loses out as India opts for cheaper Russian naphtha The UAE, led by Abu Dhabi, has lost its position as India’s biggest supplier of the refined crude oil product naphtha as discounted Russian cargoes flood the market. Naphtha has many uses including as a precursor to gasoline and other liquid fuels, and as solvents or diluents for paints and the rubber industry. India is […] March 24, 2025
Oil & Gas Iraq targets oil exports to Africa in expansion plan Iraq is considering exporting crude oil to Africa amid a market expansion plan, oil minister Hayan Abdul Ghani has said. “The government is evaluating the feasibility of entering African markets,” he told state-run Iraqi News Agency. Iraq signed 44 contracts under the latest oil licensing rounds across 14 provinces. The state-owned Basra Oil Company, which […] March 24, 2025
Renewable Energy Masdar weighs stake in TotalEnergies’ Portuguese assets Abu Dhabi renewable energy company Masdar is exploring the acquisition of a stake in French oil major TotalEnergies’ Portuguese renewables assets, three people with knowledge of the matter told Reuters. Any deal would likely be done through Saeta Yield, the green energy company Masdar bought last year from Canada’s Brookfield, one of the sources said. Reuters could not […] March 24, 2025
Oil & Gas Saudi Aramco buys Peruvian fuel distributor Saudi Aramco has agreed to buy fuel distributor Primax, which has operations in Peru, Colombia and Ecuador, Peruvian newspaper Gestion reported, citing sources familiar with the deal. Primax, owned by Peruvian conglomerate Grupo Romero, has 2,185 gas stations in the three South American countries. The deal with Aramco included a payment of around $3.5 billion, Gestion […] March 24, 2025
editor's insight Oil & Gas Why Russia could ease the Gulf’s oil headache The Opec+ countries have said that they will conduct “a gradual and flexible return” of 2.2 million barrels a day in production through until the end of next year. Saudi Arabia in particular has been gritting its teeth in holding back over 3 million bpd in spare capacity as it has watched while others – […] March 21, 2025
Energy Aramco launches its first carbon capture facility Saudi Aramco has launched its first facility to remove carbon dioxide (CO2) from the air in a joint venture with Siemens. This is the company’s first direct air capture (DAC) facility as it seeks to curb CO2 emissions. The facility, a pilot project developed with Siemens Energy, is designed to remove 12 tonnes of CO2 […] March 21, 2025
Oil & Gas Iran sanctions help push oil prices to second weekly gain Oil prices rose on Friday and were heading for a second consecutive weekly gain as fresh US sanctions on Iran and the latest output plan from the Opec+ producer group raised expectations of tighter supply. Brent crude futures were up 12 cents, or 0.2 percent, at $72.12 a barrel by 08:50 GMT. US West Texas […] March 21, 2025
Opinion Sustainability The Woodlands, a Texan experiment in sustainability The US idyll is an example of how to organise a comfortable urban life in a hydrocarbon environment March 21, 2025
Analysis Renewable Energy Shortage of ‘bankable’ green energy projects stymies investment While the Middle East has seen a surge in sustainable finance initiatives, investors are struggling to find commercially viable energy projects to invest in. This is particularly the case in developing nations, according to industry experts. The financial sector in the UAE has pledged to “mobilise” AED1 trillion ($272 billion) in sustainable finance by 2030. […] March 21, 2025
