ADNOC Drilling is now trading on the ADX, with a market capitalisation of $10 billion. This initial public offering (IPO) will raise over $1.1 billion, making the ADNOC Drilling IPO the largest-ever ADX listing to date and will also be the first issuance on the newly inaugurated ADX premises. This important milestone will bolster the […]
Author Archives: Carla Sertin
Posted inExploration & Production, DRILLING & PRODUCTION
Unprecedented high gas price: security of global supply at risk?
Gas prices are hitting new highs, but could impact supply globally
On Tuesday, 28 September, the price for gas in the European market broke the $1,000 per 1,000 cubic metres barrier for the first time ever. The price for October future at the TTF Hub reached $1,031 per 1,000 cubic metres. Several factors are perpetuating the unprecedented spike in the European continent: growing gas demand amidst […]
Posted inNews
ENOC Group and Tashkeel “Reimagine Energy” through public art at Expo 2020
Wissam Shawkat, award-winning calligrapher, artist and designer used the balustrade of House 3 to connect visitors to ENOC's theme
ENOC, the Official Integrated Energy Partner of Expo 2020 Dubai, has joined hands with Tashkeel, the Dubai-based multidisciplinary art and design organisation, to manifest the Group’s participation theme ‘Reimagine Energy’ in art that speaks to the World’s Greatest Show’s visitors. This collaboration saw two leading artists, Wissam Shawkat and eL Seed, create breathtaking public artworks […]
Posted inExploration & Production
Oil dips ahead of OPEC+ key meeting, while market surprised by US stocks build
Oil prices are declining today as the market prices in some uncertainty ahead of next week’s OPEC+ meeting and the surprise US crude stocks build of the past week
Oil prices are poised to close the week in a bearish track as traders were surprised by a build of crude stocks in the US and are pricing in reports that OPEC+ may consider an option to hike output more than planned in its coming meeting. Building inventories triggered an alarm for markets, especially at […]
Posted inExploration & Production
Oil dips on US stocks build, but bullish environment holds strong
Oil prices declined today as a result of an unexpected build in US stocks last week, but a bullish environment persists amid the winter energy crisis that boosts oil demand even for power needs
The oil price rally is taking a breather today as US crude stocks unexpectedly rose last week, a development the market was not expecting as weeks of continuous draws have been fueling the price rise. Despite the build, the overall trend of massive draws over the past weeks has still left US storage levels low […]
Posted inProducts & Services
86% of Saudi firms attribute cyberattacks to technology put in place during pandemic
Seventy-seven percent of Saudi organizations have moved business-critical functions to the cloud — including human resources (80%) and accounting and finance (60%)
Tenable®, Inc., the Cyber Exposure company, has published results of a study that found 86% of Saudi organizations suffered a business impacting cyberattack* attributed to vulnerabilities in technology put in place during the pandemic. The data is drawn from ‘Beyond Boundaries: The Future of Cybersecurity in the New World of Work,’ a commissioned study of […]
Posted inExploration & Production
QP to supply 3.5 MTPA of LNG to China for 15 years
As of August 2021, Qatar has delivered a total of 715 LNG cargoes to China
Qatar Petroleum entered into a long-term sale and purchase agreement (SPA) with CNOOC Gas and Power Trading & Marketing Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC), for the supply of 3.5 million tons per annum (MTPA) of LNG over a 15-year period starting January 2022. The SPA was signed during a virtual […]
Posted inEnergy Transition
LNG price rally spurs oil switch in Asia, boosting demand by 400,000 bpd
While Europe is limited by carbon regulations and operational constraints, Asia can burn oil in power plants with more flexibility
The recent rally in LNG prices in Europe and Asia has dramatically widened the economic incentive to switch from natural gas to oil in power generation. Steep carbon regulations and operational constraints limit Europe’s ability to burn oil in power plants, but Asia has more flexibility. If the gap between LNG and oil prices remains […]
Posted inEnergy Transition
Seismic vessel utilization recovers to pre-Covid-19 level as market embraces energy transition jobs
Seismic vessels are being used for hydrocarbon exploration in addition to energy transition initiatives including carbon capture and storage, offshore wind, and geothermal
The Covid-19 pandemic has been devastating for the seismic industry for several quarters, keeping nearly half of its global fleet inactive – until recently. A Rystad Energy report shows that the seismic fleet’s hibernation is now over, as vessel utilization has recovered to pre-Covid-19 levels in the third quarter of 2021. About 68% of the […]
Posted inExploration & Production
Oil-producing countries could lose a combined $82bn a year due to gas flaring
Algeria, Iran, Iraq and Libya were counted among the biggest gas flarers globally
Gas flaring – the combustion of unwanted natural gas produced during oil recovery – is losing many oil-producing countries up to $82bn*, according to GlobalData. The data and analytics company notes that, even though technological solutions exist to avoid gas flaring, many countries persist with the activity, including developed countries such as the US and […]
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