Energy Eni and Snam join forces on Algeria-Italy gas pipelines Italian energy group Eni and gas grid operator Snam have clinched a partnership to jointly manage their assets in the gas pipelines connecting Algeria to Italy. With Russia curtailing its gas flows to Europe, Algeria last year emerged as Rome’s biggest gas supplier, making the network between the two countries a strategic infrastructure for Rome’s […] January 11, 2023
Energy Libyan court suspends energy exploration deal with Turkey A Libyan court has suspended an energy exploration deal that the Tripoli government signed last year with Turkey, a judiciary source said, pausing an agreement that angered other Mediterranean powers and inflamed Libya’s own internal crisis. The agreement had included scope for oil and gas exploitation in waters that Ankara and Tripoli have declared as […] January 11, 2023
Energy Egypt awards exploration rights for offshore blocks to ExxonMobil US oil and gas major ExxonMobil has obtained exploration rights to two offshore blocks in Egypt’s outer Nile Delta, Ahram Online reported, citing a company statement. The two blocks – Masry and Cairo – stretch over 11,000sq km, with exploration expected to start in 2023 after the government grants its final approval. “The addition of […] January 11, 2023
Energy Borouge secures two new $15m contracts from UAE firms Abu Dhabi-listed petrochemicals major Borouge has secured two new contracts worth AED55 million ($15 million) to supply polyolefins to Ducab and Union Pipes Industry (UPI), the company said in a statement. Both companies will use Borouge materials to produce energy and infrastructure applications to construct Borouge 4. Ducab, a UAE-based energy solution provider and industrial […] January 11, 2023
Energy Texan energy firm expands Egyptian oil and gas footprint Apex International Energy has announced the acquisition of interests in four additional concessions in Egypt’s oil-producing Western Desert region. Purchased from IEOC Production, a unit of Italian energy firm Eni, the new concessions will increase Apex’s production capabilities by 65 percent — up to 11,500 barrels per day. Apex, who are based in Houston, Texas, […] January 10, 2023
Opinion Energy There’s no quick fix on energy. At PIF, we’re just getting on with it The Saudi sovereign wealth fund's head of energy and utilities explains why the transition to renewables is coming, but can't happen overnight – and why electric cars are older than you think January 9, 2023
Energy Algeria’s Sonatrach plans to invest over $30bn in hydrocarbons Algeria’s state-owned Sonatrach has revealed plans to invest over $30 billion in exploring and producing hydrocarbons, with a particular focus on natural gas to supply to the global market. “As part of Sonatrach’s five-year investment plan more than $30 billion will be allocated to exploration and production,” said CEO Toufik Hakkar, according to Algeria Press […] January 9, 2023
Energy QatarEnergy and Chevron Phillips to build $6bn petchem complex QatarEnergy has signed a final investment decision on the $6 billion Ras Laffan Petrochemicals Complex with partner Chevron Pillips Chemical, which will be the largest in the Middle East. The complex includes an ethane cracker with a capacity of 2.1 million tonnes of ethylene per year, the energy firm said in a statement published by […] January 9, 2023
Energy UAE’s Adnoc allocates $15bn to decarbonise operations by 2050 State oil major Abu Dhabi National Oil Company (Adnoc) has allocated AED55 billion ($14.97 billion) to decarbonise its operations by 2050, the oil giant said in a statement. Projects will include investments in clean power, carbon capture and storage (CCS), further electrification of its operations, energy efficiency and new measures to build on Adnoc’s long-standing […] January 6, 2023
Energy Aramco may cut Arab Light crude prices to 15-month low Saudi Arabia may further cut the prices for its flagship Arab Light crude grade to Asia in February, after they were set at a 10-month low this month, as concerns of oversupply continued to cloud the market. State oil giant Saudi Aramco may cut the official selling price (OSP) for the medium sour grade by […] January 5, 2023
Energy Iraq’s oil revenue crosses $115bn in 2022 Iraq’s oil revenues exceeded $115 billion in 2022, according to figures announced this week by the oil ministry. Over 1.209 billion barrels of oil were exported, said the state-owned Iraqi News Agency reported, citing figures from deputy prime minister for energy affairs and minister of oil, Hayan Abdul-Ghani. Most of the exports were to China, […] January 4, 2023
Energy Ducab powers giant wind farm as UAE-Egypt trade ties strengthen Ducab Group, one of the UAE’s largest manufacturers, is supplying 633km of cable to a new Egyptian wind farm in a move that reinforces the strong industrial partnership between the two countries. The Gulf of Suez project will play a key role in Egypt’s commitment to generate 42 percent of all electricity from renewable energy […] January 3, 2023
Energy Oman’s crude oil output rises 10% to 355m barrels Oman’s crude oil and condensate oil production rose by 10 percent until November 2022 to reach 355.47 million barrels, compared to about 323.17 million barrels over the period the previous year, Oman Daily Observer reported, citing the National Centre for Statistics and Information (NCSI) data. Crude oil production grew 13.5 percent to 283.53 million barrels, […] January 3, 2023
Energy Clean energy makes up 14% of Dubai’s total power production The production capacity of clean energy in Dubai has reached 2,027 megawatts (MW) using photovoltaic solar power (PV) and concentrated solar power (CSP), state-run WAM news agency reported. This makes up about 14 percent of the Emirate’s total power production capacity of 14,517MW, said Saeed Mohammed Al Tayer, chief executive officer CEO of Dubai Electricity […] January 2, 2023
Energy Saudi Arabia and UAE meet 76% of Japan’s oil needs in November Nearly 76 percent of Japan’s oil imports in November came from the UAE and Saudi Arabia, Arab News reported, citing data from the Japanese Energy Agency. UAE made up 41.5 percent or 32.1 million barrels, while Saudi exports stood at 36.3 percent or 28.16 million barrels. Japan’s crude oil imports from Saudi Arabia slipped from […] January 1, 2023
Energy Abu Dhabi’s utility firm delivers 60% of power from renewables Abu Dhabi’s Emirates Water and Electricity Company (EWEC) has delivered over 60 percent of total power demand from renewable and clean energy sources. The company generated approximately 5.5 gigawatts (GW) of the total 8.6GW system power demand from its solar power and nuclear energy plants, state-owned WAM news agency said. Othman Al Ali, chief executive […] December 30, 2022
Energy Saudi, Omani and Kuwaiti firms to set up petchem complex Companies from Saudi Arabia, Oman and Kuwait have signed an agreement to jointly develop a petrochemical complex in the Special Economic Zone at Duqm in Oman, state-run Oman News Agency reported. Oman’s OQ Group, Saudi Basic Industries Corporation (Sabic) and Kuwait Petroleum International aim to establish the petrochemical complex consisting of a steam cracker and […] December 29, 2022
Energy Russia bans oil exports to countries abiding price cap President Vladimir Putin on Tuesday delivered Russia’s long-awaited response to a Western price cap, signing a decree that bans the supply of crude oil and oil products from February 1 for five months to nations that abide by the cap. The Group of Seven major powers, the European Union (EU) and Australia agreed this month […] December 28, 2022
Energy ACWA Power signs $2.4bn wind farm deal in Uzbekistan Saudi-listed ACWA Power has signed a power acquisition deal with the National Electric Grid of Uzbekistan to build three wind power plants in the country. According to a bourse filing to the Tadawul exchange, the $2.4 billion Kungrad wind farm project in the north-western Karakalpakstan district of Uzbekistan, will be implemented through special purpose vehicles. […] December 27, 2022
Energy DEWA expects hydroelectric plant completion in Q4 2024 The pumped-storage hydroelectric power plant that Dubai Electricity and Water Authority (DEWA) is building in Hatta is 58.48 percent complete, state-run WAM news agency reported. This is the first station of its kind in the GCC, with investments of up to AED 1.421 billion ($387 million). The project is planned for completion in Q4 of […] December 27, 2022
Energy Japanese firms to sign long-term contracts to buy LNG from Oman Japan’s trading houses Mitsui & Company, Itochu Corporation and Japan’s biggest power generator JERA are expected to sign new long-term contracts to buy liquefied natural gas (LNG) from Oman, NHK said on Tuesday. The Japanese companies are expected to buy a total of about two million tonnes of LNG, starting from 2025, through around 10-year […] December 27, 2022
Energy Turkey’s natural gas reserves rise in Black Sea after new find The total volume of natural gas Turkey has discovered in the Black Sea now amounts to 710 billion cubic meters (bcm) after a new field was located and a previous find was revised higher, President Recep Tayyip Erdogan said on Monday. Speaking after a cabinet meeting, Erdogan said Turkey had discovered a new reserve of […] December 27, 2022
