BW Energy has completed a $365 million project finance facility to fund the refurbishment and redeployment of the Maromba floating production, storage and offloading vessel (FPSO) to Brazil’s Maromba field.The loan, backed by China Export & Credit Insurance Corporation (Sinosure), was significantly oversubscribed and will cover around 80% of total project costs, the company said.The syndicate includes the Export-Import Bank of China…
Austrian oil, gas and chemicals group OMV plans to cut 2,000 of its 23,000 worldwide staff, the Kurier newspaper reported on Thursday evening.Citing staff unions, the paper said the company's Romanian subsidiary Petrom SNPP.BX would be especially severely hit…
Australian gas producer Santos on Monday agreed to further extend the exclusivity period for an $18.7 billion takeover bid from a group led by Abu Dhabi National Oil Co (ADNOC), and reported a better-than-feared 22% drop in first-half profit…
Santos has agreed to extend the exclusivity period granted to a consortium to enable it to complete due diligence on the purchase.The consortium, led by XRG P.J.S.C., a subsidiary of Abu Dhabi National Oil Company and includes Abu Dhabi Development…
Israel's Leviathan natural gas field has signed the largest export agreement in the country's history, worth up to $35 billion to supply gas to Egypt, NewMed, one of the partners in the field, said on Thursday.The deal should ease an energy crisis in Egypt…
Global energy technology company SLB and AIQ, the Abu Dhabi-based AI champion for the energy sector, have teamed up to advance AIQ’s continued development and deployment of its ENERGYai agentic AI solution across ADNOC’s subsurface operations…
BP will launch a review of how best to develop and monetise its oil and gas production assets and consider more cost cuts to boost shareholder returns, the oil major said on Tuesday, as it beat second-quarter profit expectations.BP, under pressure…
Abu Dhabi state-owned renewables company Masdar reported a 2024 profit of 412 million dirhams ($112.18 million) on Thursday, reversing a 44-million-dirham net loss recorded the previous year.The company's total assets more than tripled in the year ending December 31…
The U.K. Planning Inspectorate has concluded its six-month Nationally Significant Infrastructure Project (NSIP) examination period for the Dogger Bank South (DBS) offshore wind farms, with the consent decision now expected within the next six months…
Iberdrola has signed green financing agreement with 24 banks for the East Anglia THREE offshore wind farm, being developed together with Abu Dhabi Future Energy Company (Masdar).The transaction valued at $4.88 billion, which was 40% oversubscribed…
The Baltic Eagle offshore wind farm in Germany has been fully completed and energized, the joint venture partners Abu Dhabi Future Energy Company (Masdar) and Iberdrola have announced.As the first project completed under the strategic partnership…
Abu Dhabi Future Energy Company (Masdar) and Iberdrola have agreed to co-invest $6.08 billion in the 1.4 GW East Anglia THREE offshore wind farm in the U.K., in what’s said to be the largest offshore wind transaction of the decade.Under the agreement…
French tubular solutions supplier Vallourec has secured a significant order from Abu Dhabi National Oil Company (ADNOC) for the supply of more than 30,000 tons of carbon steel tubulars and associated accessories featuring VAM premium connections…
Australia's Santos said on Friday it had granted exclusive due diligence for a period of six weeks to an international consortium led by Abu Dhabi's National Oil Company (ADNOC), which had offered $18.7 billion for the gas producer.ADNOC's investment arm XRG…
Malaysian FPSO leasing firm Yinson Production has closed of the previously announced $1 billion investment from a consortium of global investor to further drive its business growth.The funding was secured through a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA)…
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