West Texas Intermediate traded near $73 a barrel after closing 0.3 per cent lower on Wednesday
The company first entered offshore exploration in Canada in 2021 with a 40 per cent stake in ExxonMobil’s licence for EL 1165A
Saudi Arabia has said publicly that the 23-nation alliance should keep supplies steady for the whole of 2023
The two entities intend to form a new joint venture that will focus on gas development in international areas of mutual interest
The state-owned oil major said the deal includes the supply of 480,000 bpd of crude oil to Rongsheng refinery for 20 years
The state-owned oil giant will supply up to 210,000 bpd of crude oil feedstock to the complex, which is being built in China’s Liaoning province
West Texas Intermediate declined toward $69 a barrel after on Thursday
Lekela Power currently operates 1GW of wind power projects in South Africa, Egypt and Senegal, and has a 1.8GW project pipeline in different stages of development
The company said a state of emergency has been declared but no leakage of poisonous gas was detected at the site of the oil spill
High US exports have also contributed to ample levels of supply
We are currently partnering with global industrial service and supply chain providers to disrupt business models in the energy sector
The company’s full-year net profit surged by 22 per cent year-on-year to Dhs2.74bn while its revenues rose by 54 per cent to Dhs32bn
The company’s declared a dividend of $19.5bn for the final quarter of 2022, a 4 per cent increase compared to the previous three-month period
The plant would support the Republic of Côte d’Ivoire’s goal of 42 per cent of its energy mix coming from renewable sources by 2030
The plant is expected to startup in 2026
The deal comes amid expectations of lucrative business opportunities in Saudi Arabia and the Middle East
The expo aims to support Africa’s COP27 climate commitments and align with the Africa Power Vision by bringing together key energy stakeholders
Prices for US customers were left unchanged
The UAE and Italy signed an MoU to aid cooperation in the field of emissions reduction, new energy technologies, and low-carbon solutions
The company increased the number of ordinary shares offered in the IPO to 3.8 billion on Monday, implying market capitalisation of Dhs182bn
The use of hybrid power land drilling rigs is an essential element of ADNOC Drilling’s decarbonisation strategy
The project marks ACWA Power’s entry into the Central Asian country with an initial investment of $1.5bn
The Gulf states are accelerating the decarbonisation of their energy sectors by investing heavily in renewable energy
The transaction expands Aramco’s lubricants business globally
SABIC, which is majority-owned by Saudi Aramco, said average sale prices dropped 9 per cent from the previous quarter.
Petrol prices will marginally increase, while the price for diesel has been cut
Abraj will construct three drilling platforms in the Wafra oilfield in the southern part of Kuwait as part of the deal
The Baynouna Solar Park produces over 560 gigawatt-hours of energy annually – enough to power 160,000 homes
Tawazun said the solar park is expected to produce 7.1 million kilowatt-hours of clean energy in the first year of operation
When fully operational, the plant will prevent 22.4 million tonnes of carbon emissions every year