The sale had been in process since August 2019.
Saudi Arabian oil giant Saudi Aramco and Reliance, India’s largest petrochemical firm, have mutually agreed to reevaluate a $15 billion deal for Aramco to purchase a 20 percent stake in Reliance’s oil-to-chemical business. The sale had been announced in 2019, but progress has been slow. Oil prices crashed last year due to a huge demand […]
While most believe oil prices have a lot further to go, dissenting opinions remain.
Commodity analysts have been on a forecasting binge recently as oil prices climb higher amid surprisingly strong demand and unsurprisingly short supply. Most believe oil has a lot higher to go. Others have reason to doubt that. One of the “dissenters” is Citi’s Ed Morse, who earlier this week told Bloomberg that while prices will […]
Goals need to be clearly defined for energy transition, Looney said.
The transition away from hydrocarbons towards more climate-friendly alternatives is a long-term approach that requires clear goals in order for success, the CEO of British oil and gas giant BP said on Monday. Governments around the world have begun to speed up policy reforms in line with climate challenge objectives. The global narrative, however, has […]
Global energy transition plans need to be "responsible and responsive," the minister added.
Egypt’s hosting of the COP27 climate conference next year, and the UAE’s hosting of COP28 in 2023, are good opportunities to work together and create initiatives which will help the world navigate through the energy transition and climate change, Egypt’s Minister of Petroleum Tarek El Molla said on Monday. Molla was speaking at ADIPEC 2021, […]
The group has maintained stability for global oil markets, Saudi Arabia's oil minister said.
The OPEC+ group has delivered more remarkably than any other group on planet earth and demonstrated a cohesion that has brought stability and sustainability to oil markets, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said on Monday. Prince Abdulaziz was speaking during the ADIPEC 2021 opening ceremony in a panel focused on shedding light […]
The announcement is a first in the industry.
Abu Dhabi National Oil Company (ADNOC) is set to receive up to 100 percent of its grid power from clean energy sources by January next year, Sultan Ahmed Al Jaber, the UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC said during the opening ceremony of ADIPEC on Monday. […]
