Energy Saudi Arabia and Japan seek cooperation in clean energy Saudi Arabia and Japan have signed a memorandum of cooperation surrounding the circular carbon economy, carbon recycling, clean hydrogen and fuel ammonia, state-run SPA news agency reported. The MoC was signed by Saudi energy minister Prince Abdulaziz bin Salman and Japanese industry minister Yasutoshi Nishimura, who also discussed potential collaboration in petrochemicals. Saudi Arabia recently […] December 26, 2022
Energy Oman and IEA working on three green hydrogen projects Oman and Paris-based International Energy Agency (IEA) are working on three joint projects to develop and enhance green hydrogen projects in the sultanate, according to a local media report. Dr Abdullah bin Sulaiman al Abri, advisor and representative of Oman at IEA, said that the first project is to develop green hydrogen markets for energy […] December 25, 2022
Energy Japan’s Cosmo extends oil production deal with Qatar Japan’s Cosmo Energy Holdings Co Ltd said on Friday it has signed a new agreement with state-run QatarEnergy to continue its operation in the Al-Karkara and A-Structures oil fields, which came into effect after the expiry of the current contract this month. Japan’s Qatar Petroleum Development (QPD), 75 percent owned by Cosmo Energy Exploration & […] December 25, 2022
Energy Saudi Aramco and Japan extend crude storage deal for three years Japan Organization for Metals and Energy Security (JOGMEC) has renewed a deal with Saudi Aramco for crude oil storage on the island of Okinawa for another three years, the state-run Japanese company said on Thursday. Under the agreement, JOGMEC leases 13 national crude oil stockpiling tanks on the island southwest of mainland Japan to Aramco, […] December 23, 2022
Energy Germany’s Uniper working with Masdar on hydrogen project German utility Uniper on Thursday said it was involved in a project with the United Arab Emirates (UAE) clean energy company Masdar to produce green hydrogen, confirming a report on Bloomberg. The Berlin government this week completed a 34.5 billion euro ($36.55 billion) bailout of Uniper, following European Commission approval, a nationalisation made necessary because […] December 23, 2022
Energy UAE’s Adnoc acquires 24.9% stake in Austrian chemicals group State oil major Abu Dhabi National Oil Company (Adnoc) will acquire a 24.9 percent stake in Austria-based global energy and chemicals group OMV AG (OMV) from Mubadala Investment Company (Mubadala). The transaction will increase Adnoc’s shareholdings in both Borealis and Borouge, expanding its footprint in the chemicals sector. OMV holds a 75 percent stake in […] December 22, 2022
Energy Oman seeks proposals for large-scale green hydrogen projects Hydrogen Oman SPC (Hydrom) has released the request for proposals (RFP) for the first round of its public auction process to award large-scale integrated green hydrogen projects to developers, state-run Oman News Agency reported. The country aims to award the first land blocks in 2023 to meet its 2030 production target of at least one […] December 21, 2022
Energy Saudi and Chinese firms propose feasibility for petchem complex Saudi Basic Industries Corp. (Sabic) has signed a memorandum of understanding (MoU) with Saudi Aramco and China Petroleum and Chemical Corporation (Sinopec) to look into developing an integrated petrochemical complex with an existing refinery in Yanbu. The MoU would be valid for 18 months, the petrochemicals major said in a statement to the Saudi stock […] December 19, 2022
Energy Egypt discovers large gas field in east Mediterranean Egypt has discovered a large gas field in the Nargis block in the eastern Mediterranean, petroleum minister Tarek El Molla said. Evaluation is still ongoing to determine the field’s reserves, he said in a briefing to a parliamentary committee. Nargis is one of four offshore exploration blocks in which Chevron holds operating interests in Egypt […] December 19, 2022
Energy Colombia targets 15% oil output boost from ‘enhanced recovery’ Colombia is targeting a 15 percent increase in crude oil output by using “enhanced recovery” technologies to take advantage of higher energy prices, even as it pushes towards decarbonization, minister for mines and energy Irene Velez said in an interview. The government of President Gustavo Petro, the first leftist to lead Colombia, hopes to wean […] December 18, 2022
Energy Omani OQ finishes first phase of Ras Markaz oil storage terminal State-owned integrated oil company OQ Group has finished constructing the first phase of the Ras Markaz crude oil storage terminal, which has a capacity of 26.7 million barrels, Oman News Observer reported. Oman Tank Terminal Company (OTTCO) has implemented the strategic project with 100 percent local financing. The company aims to make the Ras Markaz […] December 18, 2022
Energy QatarEnergy secures 20% stake in Brazil’s offshore oil block State-owned QatarEnergy has secured a 20 percent stake in the offshore pre-salt Agua Marinha block in the Campos basin through a joint bid with France’s TotalEnergies and Malaysia’s Petronas. Oil companies Petrobras, TotalEnergies, Petronas and QatarEnergy won the rights in an auction on Friday, said Brazilian oil regulator ANP TotalEnergies, Petronas and QatarEnergy made the […] December 18, 2022
Energy Dubai firm wins bid for 120mw solar project in South Africa Dubai-based AMEA Power has been awarded a 120 megawatts (mw) solar photovoltaic (PV) project in South Africa as part of the sixth bid submission phase of the renewable energy independent power producer procurement (REIPPP) programme. The Doornhoek PV project will sell electricity to the state utility, Eskom, under a 20-year power purchase agreement, state-run WAM […] December 16, 2022
Energy Aramco and TotalEnergies to build $11bn petchem complex in Jubail Saudi Arabian Oil Company (Aramco) and France’s TotalEnergies will construct a petrochemical facility in Saudi Arabia for around $11 billion. The “Amiral” complex will be owned, operated, and integrated with the existing Satorp refinery located in Jubail on the eastern coast, the companies said in a joint statement. A total of $4 billion will be […] December 16, 2022
Exclusive Manufacturing Gulf switches to more energy efficient cooling solutions The UAE’s replacement market for air conditioning (AC) is growing fast as energy consumption concerns continue to rise. Global consumption of electricity for household ACs is increasing rapidly, creating urgent demand for more efficient cooling systems. Energy demand for space cooling will more than treble by 2050 unless there is action to address energy efficiency, […] December 15, 2022
Opinion Energy A new cap on Russian oil leaves world relying on the Gulf Middle East producers will be the main beneficiaries as markets look elsewhere for supply December 14, 2022
Energy Turkey reaches deal over crude oil tanker insurance Turkey welcomed an agreement reached with its counterparts Tuesday that allows the continuation of a new regulation requiring crude oil tankers to present an insurance confirmation letter before transiting Turkish straits. The Turkish measures, which went into effect December 1, require vessels to provide proof of insurance for the duration of transit through the Bosporus or when […] December 14, 2022
Economy Oil and gas lift Qatar’s budget surplus past $8bn in Q3 Qatar posted a budget surplus of QR30 billion ($8.2 billion) in the third quarter of 2022, according to its Ministry of Finance. Revenues for the quarter stood at QR81.8 billion and 93 percent of the total – QR76.3 billion – came from oil and gas, the ministry announced on Tuesday, via the state-run Qatar News […] December 13, 2022
Opinion Energy Blame White House and Wall Street for global energy crunch The influence of radical environmentalism on the US Democrat administration and Wall Street bankers is damaging the global energy industry December 12, 2022
Energy Dewa’s $300m power plant set for Q1 2023 completion State-owned Dubai Electricity and Water Authority (Dewa) has completed 93 percent of the 829 megawatts (MW) fourth phase of the AED 1.1 billion ($299.47 million) H-Station power plant in Al Aweer with investments. This phase will increase Al Aweer power station complex’s total capacity to 2,825 MW under climate conditions of 50 degrees Celsius and […] December 12, 2022
Energy No clear results yet from Russia oil price cap, says Saudi Saudi energy minister Prince Abdulaziz bin Salman said on Sunday the impact of European sanctions on Russian crude oil and price cap measures “did not bring clear results yet” and its implementation was still unclear. The Group of 7 price cap on Russian seaborne oil came into effect December 5 as the West tries to […] December 12, 2022
Energy Aramco and Shandong to explore refining projects in China Saudi Arabian Oil Company (Aramco), the kingdom’s energy giant, and Shandong Energy Group are exploring collaboration on integrated refining and petrochemical opportunities in China. The companies have signed a memorandum of understanding (MoU) which includes a potential crude oil supply agreement and chemicals products offtake agreement, supporting Aramco’s role in building a thriving downstream sector […] December 11, 2022
