Tehran, Iran-- Iran is looking to deepen energy ties with Russia as the latter is keen to explore and develop oil and gas projects in the Islamic Republic.This was stated by Russian Deputy Prime Minister Alexander Novak during talks with Iranian Oil Minister Javad Owji in Tehran. He is on...

The construction contract was awarded to a joint venture of France's Technip Energies and Consolidated Contractors Company for the North Field South project.

PARIS, FRANCE -  Russia's oil exports rose in April to the highest level since its invasion of Ukraine, boosting revenues by US$1.7 billion despite Western sanctions, the International Energy Agency said on Tuesday.The Paris-based organization said Russian exports increased by 50,000 barrels per day to 8.3 million bpd last month, estimating that...

Dubai, UAE-- Qatar and Bahrain have agreed to restart flights toward the end of the month, in a sign of warming relations between the estranged countries.According to Bahrain News Agency, the resumption of flights between Bahrain and Qatar “comes within the framework of the brotherly relations between the two brotherly...

ABU DHABI, UAE - First Abu Dhabi Bank (FAB) is hosting a one-day summit that brings together aviation thought leaders and industry stakeholders to explore economic development opportunities as the sector transitions to net-zero. The Aviation Sector Summit, held in collaboration with Boston Consulting Group (BCG), consist of talks, panel...

Oil alone will make up almost 29 percent of the world’s energy needs by 2045, requiring an investment of over $500 billion each year to maintain a steady supply, Al Ghais said.

TEHRAN, IRAN - Iranian authorities have arrested eight people for "leading" a workers' strike at a key gas site in the south of the country, local media reported on Sunday."Eight main leaders of the workers' strike in the South Pars projects have been arrested by the intelligence services," Akbar Pourat, the...

The cost to secure thousands of inactive oil and gas wells in the US Gulf of Mexico could top $30 billion, as per research published weighing potential environmental damage against estimated price tag. With new US government funding available for plugging old fossil fuel wells, the authors focused on offshore...

Adjusted earnings rose six percent to $10.6 billion.

Tehran, Iran -- Iranian authorities have arrested managers at a major petrochemical company for backing a workers' strike over pay and conditions in an energy-producing region in the south, Iranian media reported Wednesday."A number of managers" were arrested for "having supported the acts of counter-revolutionary elements" and "organized strikes" at...

The Planning and Statistics Authority (PSA) said Monday , the PPI of March 2023 for the Mining and Quarrying showed a decrease by 2.94% when compared with PPI of February 2023.

The firm had sold its oil sands activities in Canada to SunCor Energy.

STOCKHOLM, SWEDEN - EU lawmakers this week adopted new laws boosting Europe's climate change fight, but a parallel drive to protect biodiversity in bills to be finalized before the end of next year looks to be on shakier ground.Negotiations between the European Commission, EU member states and the European Parliament on...

"We affirm our readiness to meet and talk with the Syrian government and with all Syrian parties to hold discussions and present initiatives for a solution," the Kurdish authorities said.

BRUSSELS, BELGIUM - Environmental groups lodged a lawsuit against the European Commission on Tuesday to challenge its definition of natural gas as a "green" energy source.In addition, one other non-governmental organization, Greenpeace, sued the EU executive separately for deciding that nuclear energy was worthy of its sustainable investment label.The legal actions at the...

Sapporo, Japan--G7 allies kicked off two days of "difficult" climate talks in northern Japan on Saturday, facing pressure to show progress on key fossil fuel commitments in an example to other major economies including China.Campaigners have warned climate and environment ministers from the group of developed countries against backsliding on pledges...

Abu Dhabi, UAE - The UAE led the Arab region in terms of investments in Egypt, Jamal bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC) said.It totaled $28 billion at the end of the first quarter of 2023, compared to $20 billion during the same period...

ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of ADNOC, announced on Thursday the deployment of five new-build Very Large Gas Carriers (VLGC).The gas carriers were built at Jiangnan Shipyard in Shanghai, China, and will be owned and operated by AW Shipping,...

TEHRAN, IRAN - Dozens of schoolgirls were poisoned Saturday in several schools across Iran, local media reported, in continuation of the mysterious phenomenon that has shaken the country for months.Since late November many schools, mostly for girls, have been affected by sudden poisoning incidents from gases or toxic substances, in some...

The deal, thrashed out in talks between federal and regional officials, spells the end of independent oil exports by the Kurdish regional government and marks a clear limit to its autonomy.

The minister said the refinery, built by South Korean firm Hyundai, can produce nine million liters of fuel a day -- over half of Iraq's daily imports of 15 million liters. The refinery has the capacity to produce 200 megawatts of electricity and "60 megawatts will be allocated to the...

Brussels, Belgium - The 27 EU member states approved Monday a deal between Brussels and Germany that lifted Berlin's block on a planned phaseout of sales of new fossil fuel cars by 2035.A spokesman for Sweden, which holds the EU presidency, said ambassadors backed the agreement. Energy ministers are expected to...

The UAE accounts for over 40% of Pakistan's trade with Arab countries, with non-oil exports from the UAE to Pakistan valued at nearly AED 4.8 billion ($1.3 billion) in 2022.

LONDON, UK- Europe's natural gas price slid Monday below US$43 for the first time in more than a year and a half, dampened by mild weather and high storage levels.In morning London deals, the price of benchmark Dutch TTF gas hit $42.5 per megawatt hour - last seen in July 2021.Monday's...

The company also announced new dividend policy for 2023-25

Shares in ADNOC Gas were heavily oversubscribed even after the offering was expanded from 4.0 to 5.0 percent of issued share capital in response to strong interest.

Emphasizing that the oil and gas industry was vital in the fight against climate change, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said that energy leaders have the knowledge, experience, expertise and the resources needed to address the dual challenge of driving sustainable progress while...

Norway earned 1.5 trillion kroner ($140 billion) in revenues from oil and gas, according to estimates by Statistics Norway (SSB). It was "by far the highest ever recorded in the statistics" and almost three times the 498 billion kroner earned in 2021, according to SSB.

The purchase is part of the company’s “rigorous decarbonisation strategy,” the company noted.

Lack of relevant skills, constant innovation in a highly disruptive world while keeping in mind budget constraints and cybersecurity remain their key concerns, says an expert.

Inflationary pressures, meanwhile, have eased by less than expected. Continued strength in the numbers has forced the Fed to turn up the hawkish rhetoric, and the market has responded by raising the expected terminal Fed funds rate while at the same time sending bond yields and the dollar higher, he...

Sales jumped 73 percent to 132.2 billion euros.

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer spoke of the organization's keenness to cooperate with leading international companies for the continuous development of its operations.Al Tayer made the remarks during discussions with a high-level delegation from France’s satellite operator Eutelsat,...

Firm's profit rose due to gas and crude oil prices spike.

The oil firm posted a net profit of $4.55 billion in 2022.

Abu Dhabi, UAE-- ADNOC and RWE Aktiengesellschaft (RWE) Wednesday announced the successful delivery of the first shipment of Liquefied Natural Gas (LNG) from Abu Dhabi in the UAE to the Elbehafen floating LNG terminal in Brunsbüttel, Germany.Produced by ADNOC Gas at Das Island, Abu Dhabi, the shipment of 137,000 cubic...

Output slipped by 2% to 2.04 million barrels per day of oil equivalent.

The rise in adjusted net profit driven by high energy prices.

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) has updated its strategic plan, adding achieving net-zero by 2050 to its vision.This move is as per its commitment of keeping pace with the government plans and strategies that aim to achieve net-zero by 2050 and the UAE’s efforts to promote...

AMMAN, JORDAN - Chairman of the Jordan Chamber of Commerce (JCC), Khalil Haj Tawfiq said Iraq is an "important" trade partner and gateway for Jordan's economy. Haj Tawfiq said, "Jordan and Iraq have wide, prolific potentials, fields and grounds to build economic integration, in light of the strong brotherly relations,...

MUNICH, GERMANY - The heating plant in Munich's southern Sendling neighborhood has been run for more than a century on gas, often imported from far away.But increasingly, it is the hot waters from deep underground the station that provide the energy.Tacked on to the side of the original 19th-century red-brick plant...

Iraq admitted it had differences with France's TotalEnergies over a US$10-billion contract, including over the distribution of investments, but expressed hope they can be resolved through talks. "We have given ourselves time to continue the dialogue and reach a satisfactory solution for the parties involved regarding certain points of contention,"...

ABU DHABI, UAE - One of the world's biggest solar plants will become fully operational this year in the oil-rich United Arab Emirates, months before it hosts UN climate talks, a partner company said Tuesday.The UAE, a major oil exporter, is spending billions to develop enough renewable energy to cover half...

Results reflect higher production of oil, natural gas.

Production of the fuel reached 3.1 trillion cubic feet for the month of October, according to the most recently available US data, an all-time high and up almost 50 percent from the level a decade ago.

Most analysts expect a 50-basis point hike in March but, with inflation starting to ease, there are already signs of a debate among policymakers about when to slow the pace. ECB board member Fabio Panetta, known for his dovish stance, said the bank should not commit to any particular hike...

The deal will see the state-run QatarEnergy receive a minority 30 percent stake in two blocks of Lebanon's exclusive economic zone, according to Lebanese caretaker PM Najib Mikati. French company TotalEnergies and Italy's Eni will both retain 35 percent shares in the blocks.

Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European country, ZOLA Electric CEO Bill Lenihan tells TRENDS.

Baghdad, Iraq - Iraq's Minister of Electricity, Ziyad Ali Fadel said the national grid has lost 7,500 megawatts in the past days due to curtailed Iranian gas imports which led to a decline in processing hours.He said the memorandum of understanding signed with the German company Siemens will lead to...

Looking to develop offshore hydrocarbon sites, Libya's National Oil Corporation has signed an $8-billion deal with Italian energy company ENI. The deal is expected to be inked on Saturday at an official ceremony. The development of the offshore sites is hoped to produce 850 million cubic feet of gas per...