The UAE announced ‘The Principles of the 50’, as part of the ‘Projects of the 50’ campaign, to chart the strategic roadmap for the UAE’s new era of economic, political and social growth. The 10 principles act as guidelines for all UAE’s institutions as the country approaches a new phase of development over the next […]
Author Archives: Carla Sertin
Posted inExploration & Production
The gap between air pollution pacesetters and laggards in Europe and Central Asia has widened
The Balkans and Central Asia remain hotspots and air quality levels remain dangerous throughout the region
Efforts to tackle air pollution have stepped up in recent years and are bringing dividends in many European countries, but extreme hotspots remain in Central Asia and the Balkans, finds a new report issued today by the United Nations Environment Programme (UNEP) together with the Swedish Environmental Research Institute. Dangerous air quality levels continue to […]
Posted inExploration & Production
Oil inches up on positive market sentiment
Oil prices ticked up today as the market is capping a week that offered very little bearish news, while OPEC+ stability, recovering global demand levels and a draw in US inventories lent support
As the main market movers of the week are already behind us, Friday is not a day that is expected to move prices much. The market enjoyed a week free of bearish news, so prices – despite brief fluctuations – are supported in the end of the week. OPEC+ policy stability is providing the long-term […]
Posted inProducts & Services
IUMI calls for mandatory requirements to facilitate the use of green fuels
Fuel types including ammonia and hydrogen are being promoted, so their use will need to be managed and insured, requiring regulations in place
IUMI (International Union of Marine Insurance) says it fully supports the shipping industry’s move to decarbonise, but recognises that risk management provision must be in place to unpin the transition. Fuel types including ammonia and hydrogen are being promoted, so their use will need to be managed and insured, requiring regulations in place. “We applaud […]
Posted inExploration & Production
Oil rises on US crude stocks draw, waiting for more demand signals
Oil prices rose today as a draw of US crude stocks hiked market confidence, with a weak US dollar offering further support for international buyers. Meanwhile, traders ticked off the OPEC+ meeting without surprises and are now refocusing on demand signals
After an OPEC+ meeting without surprises, oil prices are rising today as a result of the market confidence that the reported crude inventory decline created, and also due to the currently favorable exchange rate of other currencies against the US dollar. Since Wednesday morning traders had a change of heart in pricing oil. Rumors drove […]
Posted inExploration & Production
Forecast: Hurricane Ida’s impact on US gas markets
Concerns over the effect the storm on US gas markets grew last week, but have since dissipated as preliminary data suggests minimal impact on supply, including feedgas to liquefied natural gas (LNG) terminals, and on demand for natural gas for power generation. We forecast LNG export volumes to remain strong and anticipate no shut-ins or […]
Posted inDRILLING & PRODUCTION
TAQA to conduct strategic review of its international oil and gas business
TAQA's latest strategy focuses on developing its utilities business in the UAE and internationally
Abu Dhabi National Energy Company PJSC (“TAQA”), one of the largest listed integrated utility companies in the region, announced today that it has initiated a strategic review of its oil and gas operations. Since 2005, TAQA has built a high-quality portfolio of upstream and midstream oil and gas operations in the UK North Sea, the […]
Posted inExploration & Production
Oil market update: OPEC forecast, demand uncertainty, Hurricane Ida
Crude futures are trading higher today as the market has quickly moved to discount the net negative effect on supply and demand balances for Sep-21 from Hurricane Ida and instead focused ahead on today’s monthly OPEC+ meeting. It is fair to say that the market widely expects OPEC+ to ratify its plan of bringing back […]
Posted inProducts & Services
Kuwait’s KNPC partners with VMware for digital transformation
The partners will deploy a private cloud and hyperconverged infrastructure to boost agility and security
Kuwait National Petroleum Company (KNPC) has taken its digital transformation to the next level with VMware. “By embracing a cloud-first approach with VMware, KNPC has boosted its agility, efficiency, and security to set in motion a new era of digital transformation,” said KNPC spokesperson and Deputy CEO for Admin. & Commercial Affairs, Ahed Al-Khurayif. “The […]
Posted inExploration & Production
Eni announces major offshore discovery in Ivory Coast
The block is operated by Eni with Petroci Holding, who hold 90% and 10% respectively in the exploration phase
Eni announces a major oil discovery in block CI-101 offshore Ivory Coast. The block is operated by Eni with Petroci Holding, who hold 90% and 10% respectively in the exploration phase. The offshore discovery well has been drilled on the Baleine prospect, with the support of the Government in the difficult context of the pandemic-covid-19. […]
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