Opinion Energy Opec+ decides to wait and see on global oil markets Sunday’s virtual Opec+ meeting did the sensible thing: it held output, but made clear it was ready and willing to intervene should the circumstances warrant it December 5, 2022
Analysis Africa’s gas dilemma as Europe offers ‘get rich quick’ opportunity Africa is facing a dilemma: provide gas for Europe now with short-term economic gain or focus funding on the development of renewable energy sources, with long-term energy security, economic growth and stability. Driven by the opportunity to take advantage of soaring prices, gas-exporting African countries are adjusting their energy development plans to meet demand, particularly […] December 2, 2022
Cop28 Developing countries call for new taxes on oil and gas producers By the end of the second full day of Cop27 the tone of the conference had been set. One after another, leaders of developing countries took to the plenary stage to voice their frustration and demand that rich nations offer more support to help combat the effects of climate change. After Barbadian prime minister Mia […] November 9, 2022
Opinion Energy Gas crisis may attract ‘energy migrants’ to Middle East International companies may have to rethink their strategy as bills continue to rise November 1, 2022
Opinion Energy Lebanon eyes Israeli gas to ease energy woes Gas could ease disastrous energy shortages but it doesn’t replace the work of reforming Lebanon’s failed political system October 20, 2022
Opinion Energy OPEC+ cuts reopen wounds between West and GCC members Geopolitical dilemma: while the US is concerned about energy price hikes during the midterm elections, OPEC+ is acting to safeguard its own member interests October 11, 2022
Opinion Energy Opec+ treads fine line between oil markets and geopolitics Alliance's minimal moves on production are statement of intent as it straddles the wishes of the US and Russia September 6, 2022
Opinion Energy The answer to OPEC’s investment dilemma is in its own hands OPEC members worried about 'years of underinvestment' have a choice: open up to more international partners or increase their oil output August 15, 2022
Opinion Energy OPEC’s minor production increase was the only viable option The fact that OPEC is running out of spare capacity in a constrained market is another concerning factor August 5, 2022
Analysis Energy Gulf to see revenue boost from oil price uplift, Russia embargo EU leaders have said they will block most Russian oil imports by sea by the end of the year, a move expected to keep oil prices at their highest since the last peak in 2014 and buoy GCC economies. June 1, 2022
Energy If Aramco were a country, it would be richer than Italy The oil company’s market cap of over $1.8 trillion in 2021 is more than two-and-a-half times the GDP of its home country Saudi Arabia May 30, 2022
Energy Saudi Aramco: The rise of an oil giant 1933: Oil concession agreement signed 1935: The first test well is drilled into the Dammam Dome 1939: First tanker load of petroleum exported 1949: Oil production hits 500,000 bpd 1958: Oil production exceeds 1 million bpd annually 1962: Crude oil production hits 5 billion barrels 1976: First to produce more than 3 billion barrels of […] May 26, 2022
Energy Saudi oil giants lead on march to net zero Aramco and Sabic commit to big investments in technology to combat emissions from hydrocarbons Oil industry heavyweights from Saudi Arabia have pledged to pursue a green energy transition against a backdrop of robust energy prices, with Brent currently hovering at around $110 a barrel of oil. Officials from Saudi Aramco and Saudi Basic Industries Corporation, […] May 25, 2022
Energy New oil discovery puts Abu Dhabi on course for 2030 target A new crude oil discovery by Abu Dhabi National Oil Company (Adnoc) will help the company realise its ambitious target to produce five million barrels per day (bpd) by 2030, according to experts. The state-owned energy giant announced last week it had discovered 650 million barrels of crude at three new onshore sites. The discoveries […] May 23, 2022
Energy Saudi Arabia signals support for Russia in Opec+ Brent crude trading at about $112 a barrel Saudi blames prices on lack of global refining capacity and taxes New production deal for Opec+ quotas due in three months Saudi Arabia has signalled it will stand by Russia as a member of the Opec+ group of oil producers despite tightening western sanctions on Moscow and […] May 23, 2022
Russian oil dilemma may kickstart EU-GCC trade deal A new partnership adopted today between the European Commission and the Gulf Cooperation Council (GCC) could kickstart stalled talks on a free trade agreement. The High Representative and the European Commission said in a joint communication that the strategic partnership would focus on areas such as energy security, climate change and the green transition, digitalisation, […] May 18, 2022
Energy US private equity group buys UK power plant giant for £1.75bn ContourGlobal, the UK power plant owner, has agreed to be taken over by KKR, the New York-based private equity giant, for £1.75 billion after an underwhelming four-and-a-half-year stint on the public markets. The FTSE 250 company said its board intended to recommend the “fair and reasonable” all-cash acquisition at 263.6p a share, a 36 percent […] May 18, 2022
Energy Israel ramps up gas output, looks to supply Europe Israel is on track to double its natural gas production to 40 billion cubic metres and hopes to sign a framework deal with Europe this summer May 16, 2022
Opinion Energy Short supply and rising demand to sustain oil at $100 a barrel The market is feeling the consequences of an underinvestment in hydrocarbons projects May 12, 2022
Energy ‘Ghost armada’ tankers go dark to ship sanctioned Iranian oil The "ghost armada" tankers are busier than ever, and shipping bigger cargos. They mostly supply Asian markets, according to analysts May 12, 2022
Energy Germany and Qatar ‘at odds over LNG deals’ Germany and Qatar’s talks over liquefied natural gas supply deals have run into difficulties, according to three sources familiar with the negotiations. Berlin needs to secure large volumes of LNG to reduce its dependence on Russian gas, but sources said the Germans were reluctant to accept Qatar’s condition that they sign deals lasting at least […] May 10, 2022
Energy EU ‘may offer sweeteners to get its ban on Russian oil’ The European Commission is considering offering landlocked eastern European Union states more money to upgrade oil infrastructure in a bid to convince them to agree to an embargo on Russian oil, according to an EU source. The measures are part of a package of new sanctions against Russia for its invasion of Ukraine, but an […] May 9, 2022
