(Bloomberg) — Tanzania will sign key agreements with oil majors including Equinor ASA and Shell Plc next month to pave the way for a planned $40 billion liquefied natural gas export project, according to the nation’s Energy Minister January Makamba. “It’s happening,” January Makamba said in an interview in Sharm el-Sheikh, Egypt, where he is […]
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(Bloomberg) – Oil closed at the highest level since August as markets rallied over China easing its Covid restrictions. Brent crude futures settled above $98 a barrel for a third straight weekly gain. China is said to be working on plans to scrap a system that penalizes airlines for bringing virus cases into the […]
(Bloomberg) – OPEC’s crude production held steady last month after the group pledged a symbolic cutback to stabilize market sentiment. The Organization of Petroleum Exporting Countries increased daily output by 30,000 barrels to 29.98 million barrels in October, according to a Bloomberg survey. It had agreed to make a token reduction of 100,000 barrels a […]
(Bloomberg) – An excess of supply in the oil market was the main reason for OPEC+ opting to cut production earlier this month, according to the group’s secretary-general. “We see a surplus in the fourth quarter,” Haitham al Ghais told reporters at the Adipec energy conference in Abu Dhabi. “We also see a surplus also […]
(WO) — Sultan Ahmed Al Jaber, minister of Industry and Advanced Technology and managing director and group CEO of Abu Dhabi National Oil Company (ADNOC), on Monday called for maximum energy with minimum emissions to ensure global energy security in his opening address at the 38th edition of the Abu Dhabi International Petroleum Exhibition Conference […]
(Bloomberg) – Qatar is in talks with TotalEnergies SE and Eni SpA for a 30% stake in an exploration block in waters off Lebanon, QatarEnergy Chief Executive Officer Saad Al Kaabi said Sunday. The company is also in talks with the Lebanese government regarding the offshore gas block, Al Kaabi said at an event in […]
(Bloomberg) — Saudi Arabia’s energy minister held talks with counterparts from China and India, two of the kingdom’s biggest oil customers, amid a standoff with the U.S. over OPEC+’s decision to cut production. Prince Abdulaziz bin Salman held an online meeting with China’s National Energy Administrator Zhang Jianhua, during which they agreed to bolster “the […]
(Bloomberg) — Turkey has sided with Saudi Arabia in its deepening standoff with the US over OPEC+’s decision to cut oil production. “We see that a country stands up and threatens Saudi Arabia,” Turkey’s Foreign Minister Mevlut Cavusoglu said in the Mediterranean port city of Mersin on Friday. “This bullying is not right.” As an […]
(Bloomberg) — An escalating public dispute over oil between the Biden administration and Saudi Arabia risks causing irreparable harm to U.S. relations with the crucial Mideast partner, according to current and former government officials briefed on the feud. Dueling statements from Washington and Riyadh in recent days over last week’s OPEC+ decision to cut production […]
Abu Dhabi, UAE – Abu Dhabi National Oil Company (ADNOC) announced today, the award of a contract worth $980 million (AED3.6 billion) to ADNOC Drilling to hire two jack-up offshore rigs and associated manpower and equipment. The contract, awarded by ADNOC Offshore, will support the expansion of ADNOC’s production capacity as it responds to the […]