Israel's Energy Ministry said on Sunday it had awarded 12 licenses to six companies to explore for natural gas off the country's Mediterranean coast, aiming to create more competition and diversify suppliers.The license awards, which came as the Israel-Hamas conflict entered its fourth week…
The United Arab Emirates President of COP28 said on Monday he was aware countries had strong views about including language on fossil fuels and renewables in the negotiated text of the UN climate summit but that common ground must be found.'I…
Offshore drilling firm ARO Drilling (“ARO”), a 50/50 joint venture between Valaris and Aramco, has secured financing for its first two newbuild jack-up drilling rigs, Kingdom 1 and 2.According to Valaris, ARO secured 'attractive' financing,…
Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that recent multi-billion dollar acquisitions by U.S. oil majors Exxon Mobil and Chevron of smaller rivals showed that hydrocarbons were 'here to stay'.'Exxon, Chevron didn't buy because they want to have stranded assets…
Saudi oil giant Aramco's Chief Executive Amin Nasser said on Tuesday he saw significant demand growth for oil, citing a possible resurgence in the Chinese economy and an aviation sector that remains below pre-pandemic levels. He said a one-size…
The ongoing conflict between Israel and Hamas, the Palestinian militant group, poses a serious threat to the regional natural gas market and could have knock-on effects on Europe’s liquefied natural gas (LNG) supply as winter approaches, Rystad Energy…
Global oil benchmark Brent hit $93 a barrel on Wednesday as the risk of escalating conflict in the Middle East threatened to disrupt oil supplies from the region, with Iran calling for an oil embargo to be imposed on Israel.Brent crude futures was up $2…
Saudi Aramco is able to ramp up oil production within weeks as global consumption is set to rise to a fresh record by year-end, the CEO of the oil giant said on Tuesday.Speaking at the Energy Intelligence Forum in London, Aramco CEO Amin Nasser…
Israel, which has become a major gas exporter in recent years, has shut down several major energy sites since Hamas militants attacked southern Israel on Oct. 7, sparking a wider conflict in the Gaza Strip.Following are the sites impacted by the conflict so far:THE TAMAR GAS FIELDIsrael on Oct…
Shares of oil and gas driller ADES Holding climbed almost 30% above its listing price on its market debut in Riyadh on Wednesday after raising $1.22 billion in an initial public offering last month. The shares outperformed the wider Saudi market…
Israel is suspending production at the Tamar gas field off its southern coast and will seek alternative fuel sources to meet its needs, the energy ministry said on Monday, following three days of violence in the region.Chevron, which operates the field…
Shares in European-listed companies with major business exposure to Israel fell on Monday on concerns over the potential for their operations there to be affected by a possible escalation of the conflict in the Middle East.Energean fell as much as 16…
The United Arab Emirates is refashioning the state-owned Abu Dhabi National Oil Company (ADNOC) in the image of an international oil major by stepping up its global expansion and finding new revenue streams to maximize earnings for the Gulf state…
The cost of chartering a supertanker to load Middle Eastern crude oil for Asia has rebounded from a 19-month low in September, but industry sources expect output supply cuts, led by Saudi Arabia, to cap freight rates for the rest of the year…
The CEOs of top Saudi Arabian and U.S. oil producers Aramco and Exxon Mobil on Monday pushed back against forecasts that oil demand will peak, and said the transition to cleaner energy to fight climate change would require continuing investment in conventional oil and gas…
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