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The agreement is targeting at least 5 MMtpa of CO2 capture and storage capacity by 2030. Its scope includes a CO2 shipping and logistics study, geophysical and geomechanical modelling, reservoir simulation and containment research while exploring the application of advanced technologies, including artificial intelligence (AI), to enhance storage capacity. View the full article
State-owned Aramco and ADNOC have been conducting preliminary evaluations of Santos as a possible acquisition target, the people said, asking not to be identified because the information is private. The Middle Eastern energy giants are investing billions of dollars in natural gas, which is seen as an important bridge fuel in the energy transition, especially in Asia. View the full article
ADNOC announced today the fourth cohort of its prestigious Trading Academy, which prepares ADNOC’s UAE National talent for roles as global traders of refined and crude products in the company’s trading operations, ADNOC Global Trading (AGT) and ADNOC Trading (AT). View the full article
Abu Dhabi National Oil Co. is seeking to raise about $750 million from its drilling unit’s IPO, in what would rank among one of the largest share sales in the United Arab Emirates. View the full article
The new target is part of ADNOC’s expanded In-Country Value (ICV) program which aims to drive an additional $49 billion back into the UAE economy by 2028. ADNOC’s previous 2027 target for local manufacturing of $19 billion worth of products was delivered ahead of schedule following the award of two contracts for metal pipes and valves worth $4.6 billion to local manufacturers. View the full article
Neuron 5 uses advanced AI models and deep learning algorithms to predict maintenance needs and monitor equipment performance by interpreting data, such as pressure, temperature and vibration, received from sensors on critical equipment. View the full article
Abu Dhabi National Oil Co. (ADNOC) will purchase the stake in the Area 4 concession from Galp Energia SGPS SA, it said in a statement Wednesday. Galp will receive $650 million, and further contingent payments of as much as $500 million when two planned development phases go ahead, the Portugese company said in a separate statement. View the full article
The United Arab Emirates will accelerate $20 billion of natural-gas projects by awarding contracts for some of them in the coming days, as it seeks to boost exports of the fuel. View the full article
ADNOC announced today at ADIPEC the signing of the first long-term Sales and Purchase Agreement (SPA) for the lower-carbon Ruwais liquefied natural gas (LNG) project, which is currently under development in Al Ruwais Industrial City, Abu Dhabi. View the full article
Speaking at CERAWeek, H.E. Dr. Al Jaber says the UAE has been preparing for the energy transition for over 15 years and views it as an opportunity to diversify its economy. ADNOC has stated that it will reduce its carbon intensity by a further 25% by 2030. View the full article
Abu Dhabi’s state oil firm plans to raise $1.64 billion by selling more shares in its fuel retail unit and by issuing bonds, as the emirate taps its energy wealth to attract investment. View the full article
Petrostates in the Persian Gulf are trying to bolster their economies after they were hit last year by coronavirus lockdowns and the crash in oil prices. They also want to diversify from fossil fuels by using money raised from their oil assets to invest in other industries. View the full article
Abu Dhabi National Oil Co. offered nearly $13 billion to buy Germany’s Covestro AG in what’s set to be the largest Middle Eastern acquisition of a European firm. View the full article
ADNOC is the third major industrial partner to join Exxon’s project, which would produce 1 Bcf of hydrogen per day and 1 million tons of ammonia a year. JERA Co., Japan’s biggest power, provider signed a non-binding agreement in March to buy half of the ammonia and in June Air Liquide SA said it could use its pipelines. View the full article
The investment supports ADNOC’s oil production capacity plans of five million barrels per day by 2030 while ensuring energy security for the United Arab Emirates and partners around the world. View the full article
ADNOC has signed a long-term Heads of Agreement with IndianOil for 1 million metric tonnes per annum of liquefied natural gas (LNG) from its Ruwais LNG project in Abu Dhabi. View the full article
While OPEC’s third-largest producer will still reduce supply to Asia in January, the curbs won’t be as deep as this month in percentage terms. View the full article
His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, rallied the energy industry at the 40th ADIPEC meeting to lead the world to the next phase of sustainable socioeconomic growth. View the full article
ADNOC Gas announced it expects to acquire ADNOC’s 60% stake in the Ruwais Liquified Natural Gas (LNG) plant in the second half of 2028 at cost. Over 7 mtpa of the project’s total production capacity of 9.6 mtpa has already been committed to international customers. View the full article
ADNOC Gas has signed a 10-year Sales and Purchase Agreement (SPA) with GAIL India Limited, India's largest natural gas company, to supply up to 0.52 million metric tons per annum (mmtpa) of liquefied natural gas (LNG), starting in 2026. View the full article
ADNOC Gas plc and its subsidiaries today announced strong earnings for the third quarter of 2024, with net income increasing 11% year-on-year (YoY) to $1.24 billion, beating Bloomberg consensus for the quarter. View the full article
ADNOC Gas is using advanced 3D printing technology to manufacture critical replacement components, aiming to save $50 million by 2028. The company has created one of the largest digital libraries in the energy industry, storing over 3,500 scanned components that can be printed on demand. View the full article
ADNOC Drilling will acquire eight FlexRig land rigs from HandP for $86.5 million, after which HandP will make a $100 million cornerstone investment into ADNOC Drilling’s recently announced initial public offering. View the full article
Vallourec will continue to supply the complete range of tubes and connections for both conventional and complex applications on onshore and offshore oil and gas fields. View the full article
The Crown Prince of Abu Dhabi has endorsed his state-owned energy company, Abu Dhabi National Oil Company (ADNOC), endorsed the company's innovative Artificial Intelligence and Digital Technology (AIDT) strategy, ENERGYai. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
