Analysis
ADNOC makes $11 billion offer to take over German chemicals firm
Abu Dhabi National Oil Co (ADNOC) has approached German plastics and chemicals maker Covestro with an acquisition proposal worth more than $10.9 billion, Reuters reported, citing two people familiar with the matter. The energy giant has made an informal offer to Covestro, a maker of transparent polycarbonate plastics, as well as chemicals for insulation and…
Oman’s OQ signs 10-year LNG supply deal with Bangladesh
Oman’s OQ Trading has signed a new long-term LNG deal with Bangladesh state-owned Petrobangla to supply up to 1.5 million tonnes per annum of LNG from 2026. Under the new government-to-government deal, state-owned OQ will supply at least four LNG cargoes to Bangladesh starting in 2026, further increasing supplies to 16 cargoes in both 2027…
UAE, Saudi, Oman: Top 5 oil and gas project launches to watch out for
Despite increasing calls from climate activists, the Middle East is expected to commence over 600 projects between 2023 and 2027, according to data from GlobalData Energy. Out of these, upstream projects would be 81, midstream would be 141, the refinery at 84, and petrochemicals would be the highest with 315 projects. Here is a list…
QatarEnergy set to sign second LNG megadeal with China
QatarEnergy is set to secure its second large gas supply deal with China in less than a year, Reuters reported, citing sources familiar with the deal. China National Petroleum Corp (CNPC) and QatarEnergy are expected to sign a 27-year agreement later today, under which China will purchase 4 million metric tons of LNG a year…