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A Make It In The Emirates promotion at Adipec, where Adnoc announced its $17bn sour gas plan. It has also committed to billions of dollars of local procurement by 2027 under the scheme

Adnoc signs deals for world’s largest sour gas development

Abu Dhabi state oil producer Adnoc has awarded engineering, procurement and construction contracts worth nearly $17 billion for its Hail and Ghasha sour gas development, the biggest of 30 agreements the energy giant signed at the Adipec conference this week. Adnoc awarded an offshore package worth $8.2 billion to a joint venture between the National […]

Masdar and Boeing work on SAF global acceptance

Abu Dhabi’s state clean energy company Masdar and the American plane-maker Boeing have agreed to jointly work on accelerating global sustainable aviation fuel (SAF) regulations. The partnership document, signed at Adipec 2023, strives to support the commercial aviation industry’s goal of achieving net-zero emissions by 2050. The two companies will advance and support the development […]

TotalEnergies CEO Patrick Pouyanne

LNG is a ‘perfect business’ says TotalEnergies CEO

TotalEnergies is pressing ahead with a strategy focusing on gas and integrated operations, even if its CEO foresees a possible glut in expensive liquefied natural gas terminals towards the end of the decade. The French company has been in the LNG business for 40 years and has become the second biggest operator in the sector […]

AE Minister of Energy and Infrastructure Suhail Mohamed Al Mazrouei

Emirates up clean energy capacity to 16% of total mix

The UAE’s installed clean energy capacity accounted for 15.6 percent of the country’s total energy mix last year, according to energy and infrastructure minister Suhail Al Mazrouei. The Gulf state has set a target of 30 percent by 2030 as per the updated UAE Energy Strategy 2050. Dr Dawud Ansari, a Berlin-based researcher at Stiftung […]

Oil production represents approximately 90% of Libya's economy

Iraq sets deadline for oil firms in new licensing rounds

Iraq has set a January 2024 deadline for international energy companies to submit formal letters of intent to take part in its so-called “fifth plus” and sixth licensing rounds, as the country strives to boost gas production and cut imports. Iraq, Opec’s second-biggest producer after Saudi Arabia, is awarding 30 new oil and gas projects […]

Hardeep Singh Puri

India discusses oil price ‘sensitivity’ with Opec+

India, the world’s third-biggest oil importer, on Tuesday urged producers to show “sensitivity” towards consuming countries, hit by prices largely trading above $90 a barrel since Saudi Arabia and Russia decided to extend voluntary cuts to the end of the year. “During pandemic, when crude oil prices crashed, the world came together to stabilise the […]

Vicki Hollub, president of Occidental, speaking at Adipec 2023

Adnoc and Occidental look into UAE direct air capture

Adnoc and US petroleum giant Occidental are investigating the feasibility of building a direct air capture facility in the UAE. It would be the first such site outside the US, the companies said.  The preliminary engineering study is the latest project under an agreement signed by the companies earlier this year to explore carbon capture, […]

Opec's Haitham Al Ghais told Adipec that the oil industry needs $600bn of investment a year

Lack of oil investment ‘threatens energy security’

The lack of investment in oil and gas is a threat to global energy security, ministers and industry leaders have told the Adipec conference in Abu Dhabi.  “At Opec, we see investments required from now to 2045 for the oil industry alone of around $14 trillion. That’s around $600 billion per year,” Opec secretary general […]

US company CarbonCapture builds direct air capture machines that remove carbon dioxide from the atmosphere

Adnoc issues $615m contract for carbon capture project

Adnoc Gas, a subsidiary of oil major Adnoc, has awarded a $615 million (AED2.26 billion) engineering, procurement and construction contract to Petrofac Emirates, a unit of the UK-headquartered oil services firm. The contract, for Middle East and North Africa’s largest integrated carbon capture project, includes constructing carbon capture units, pipeline infrastructure and a network of […]

Adoc Japan Takahiko Shingai

Japan’s oil firm Adoc to ramp up investment in UAE

Abu Dhabi Oil Company (Adoc), a company from Japan, plans to increase investments in the UAE’s oil sector as part of its expansion strategy, a senior company executive said. “We are planning to expand our production facilities and increase extraction rates,” Takahiko Shingai, deputy general manager and director of the development department at Adoc, told […]

The risks to Saudi Arabia's outlook are “balanced” due to higher oil prices, said the IMF

Saudi Arabia may hike Arab Light price for fifth month  

Saudi Arabia may raise the price for its flagship Arab Light crude to Asia for a fifth straight month in November, underpinned by its prolonged voluntary output cut and resilient oil demand in the region. State oil giant Saudi Aramco may hike the official selling price (OSP) for its medium sour crude by about 45 […]

QatarEnergy coalition bids in Lebanon licensing round

A coalition of TotalEnergies, Eni and QatarEnergy applied for the second licensing round to bid on oil and gas blocks 8 and 10 in Lebanese waters, an hour before the deadline on Monday, Lebanon’s energy ministry said. Last month the consortium began drilling an exploratory well in Lebanon’s block 9, one of the blocks falling […]

Israeli firm seeks higher price from Adnoc and BP

A panel reviewing a $2 billion offer by Abu Dhabi’s national oil company and BP to acquire a 50 percent stake in the Israeli gas producer NewMed has recommended raising the asking price by over 10 percent, casting doubt over the deal, sources said. The proposed acquisition by Abu Dhabi National Oil Co (Adnoc) and […]

Adnoc carbon capture

Adnoc doubles carbon capture target to 10m tonnes

Adnoc, the UAE’s biggest oil producer, plans to capture 10 million tonnes of carbon dioxide emissions annually by 2030, up from a previous target of 5 million tonnes. The announcement was made on Sunday, ahead of Adnoc hosting its main annual oil conference, Adipec, this week as the country prepares to host the UN Cop28 […]

Bahrain's Bapco signed the Cop28 oil and gas decarbonisation charter, aiming to achieve net-zero operations by 2050 and end routine flaring by 2030

Al Jaber tells energy industry to defy climate sceptics

Cop28 president designate Sultan Al Jaber has called on the oil and gas industry to “silence the sceptics” and play a pivotal role in the race towards net zero and the fight against climate change. Al Jaber is also minister of industry and advanced technology of the UAE and managing director and group CEO of […]

The budget allocated by the UN to rehabilitate the Kuwaiti environment was about $3bn

Iraq’s much-delayed new oil law aims to boost coffers

Iraq’s passing of a long-awaited oil and gas law is expected to help the country attract more international investments into the hydrocarbon industry and boost government revenues.  The key innovation of the law is to allow foreign companies to have a share of oil output in Iraq, in partnership with the government, and the transition […]

Turkey's new fund will provide equity financing to green and innovative transformation companies

Download our exclusive insight report on energy

The Middle East remains a global hydrocarbons powerhouse, but it is also ramping up renewables and decarbonising oil and gas. In this special report, AGBI spotlights a bold new era for the region’s energy sector. With Adipec, the world’s largest energy industry event in the UAE, taking place this week, readers will learn what is […]