Abu Dhabi National Energy Co (TAQA) has paid $1.02 billion in cash for its stake in Abu Dhabi Future Energy Company (Masdar), following an agreement to become Masdar’s shareholder alongside ADNOC and Mubadala Investment Co. TAQA said in a statement on Thursday that the transaction, which sets out to create a global clean energy powerhouse, […]
Author Archives: Faiza Rizvi
Posted inExploration & Production
Petronas makes ‘significant’ oil and gas discovery offshore Malaysia
Petronas’ wholly-owned subsidiary Petronas Carigali has announced an oil and gas discovery in Block SK306 offshore Malaysia, which is located in the shallow waters of the Balingian Province off the coast of Sarawak. Drilled to a total depth of 2,468m, the Nahara-1 well encountered hydrocarbons in the Late Oligocene to Middle Miocene aged sedimentary sequences. Petronas […]
Posted inNews
Saudi Arabia, China to continue ‘trusted’ energy partnership, Saudi energy minister says
Prince Abdulaziz said that cooperation between China and the kingdom has helped maintain global oil market stability
Posted inNews
Emirati, Saudi CEOs optimistic about 2023 despite global recession fears
More than half of Saudi and Emirati CEOs are optimistic about the economy, a new report finds
Posted inNews
Offsetting carbon, the Halal way
Nicolas Thévenot, managing director of corporate banking at APICORP, discusses the company’s $75 million Shariah-compliant facility for voluntary carbon offsets
Posted inNews
ADNOC signs $272 million catering agreements
ADNOC signed contracts today worth over $272 million (AED 1 billion) with four Abu Dhabi companies to provide food catering services to all ADNOC Group companies for the next five years. The contracts were signed on the sidelines of the inaugural Abu Dhabi International Food Exhibition. More than 50% of the value from the four […]
Posted inDRILLING & PRODUCTION
Saipem to purchase $230 million drillship amid growing energy demand
Italian EPC giant Saipem has decided to purchase the Santorini ultra-deepwater drillship from South Korea’s Samsung Heavy Industries to strengthen its offshore drilling fleet amid growing demand for oil and gas, the company said on Monday. In June 2021, Saipem entered into a two-year contract with the South Korean shipyard, which included an option to buy the Santorini drillship. […]
Posted inExploration & Production
ADNOC, Petronas sign historic agreement for unconventional oil block
ADNOC and Malaysian giant Petronas have signed a landmark agreement for Abu Dhabi’s first-ever onshore unconventional oil block covering a 2000-square kilometre concession area in the Al Dhafra region. “Petronas will hold 100% equity and operatorship to explore and appraise unconventional oil in the concession area for a period up to six years,” Petronas said […]
Posted inNews
Saudi Vision 2030: Oil and gas emerges as big winner
Oil and gas windfall will help fund the government’s share of investments
despite its heavy capital expenditure
Posted inPeople
Mubadala’s head of investments to join ADNOC’s low carbon business
ADNOC’s new unit will focus on low carbon solutions, including the company’s renewable energy and hydrogen portfolios
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