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African hydrocarbon producing countries are increasing oil and gas licensing rounds to be able to stabilize supply of hydrocarbons in years to come to meet growing energy demand as output in legacy projects declines. View the full article
Aimed at scaling up private sector investment in African oil and gas projects, the bank will provide critical financing for new and existing oil and gas projects, as well as energy developments across the entire value chain. View the full article
AFG Holdings, Inc. announced that its Board of Directors has appointed Michael Walter as Chief Executive Officer, effective immediately. Mike succeeds Curtis Samford following his unexpected passing in February. View the full article
Tellurian Inc. and Aethon Energy Management LLC announced an agreement for Aethon to acquire Tellurian’s integrated upstream assets for $260 million, alongside a Heads of Agreement for Aethon to purchase 2 MMtpa of liquified natural gas from Tellurian’s Driftwood LNG plant. 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
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
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
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
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
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
ADNOC Drilling Company announced its financial results for the half year and second quarter ending June 30, which show its net profit for the first half significantly grew by 34% to $379 million. View the full article
ADNOC Drilling secured $2 billion wroth of contracts from state-owned Abu Dhabi National Oil Company for its Ghasha offshore mega gas project, which ADNOC says is the world’s largest sour gas development. View the full article
ADNOC Drilling Company and Helmerich and Payne, Inc. jointly announced the finalization of the Rig Enablement Framework Agreement, streamlining ADNOC Drilling’s operations, reducing costs and building shareholder value. View the full article
ADNOC Drilling Company signed a sale and purchase agreement to acquire an additional premium offshore jack-up drilling unit (rig) for $70 million. View the full article
ADNOC Drilling Company announced it has signed a sale and purchase agreement to acquire an additional two premium offshore jack-up drilling units. View the full article
Abu Dhabi National Oil Company (ADNOC) announced a second discovery of natural gas resources in the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession, operated by Eni. View the full article
Speaking at the Energy Intelligence Forum, ADNOC CEO H.E. Dr. Al Jaber said market sentiment does not reflect the real underlying fundamentals, tight spare capacity and long-term demand growth. View the full article
Baker Hughes has been awarded two contracts from ADNOC this week for equipment and services across multiple upstream fields and projects in the United Arab Emirates. View the full article
ADNOC awarded a $744 million contract to China's CNPC for the full field development of the Belbazem Offshore Block, underscoring ADNOC's drive to unlock and maximize value from all of Abu Dhabi’s fields as it expands its oil production capacity to 5 MMBPD by 2030. View the full article
Abu Dhabi National Oil Company announced the award of five framework agreements totaling $1.83 billion for Directional Drilling and Logging While Drilling. View the full article
The Abu Dhabi National Oil Company (ADNOC) announced it has successfully implemented an innovative initiative to drive efficiencies in its tendering process. This program supports ADNOC’s ongoing efforts to enhance its approach to procurement and maximize value for ADNOC and its community of suppliers and service providers. 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.
