The Middle East Energy Awards will return on 24 November in the UAE, and nominations are now officially open. The awards brings together industry leaders from across the energy sector to recognise excellence in the past year.Covering the upstream, downstream and utilities sector, including renewables, the awards include a wide range of categories to ensure […]
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ISAGCA releases position paper on automation cybersecurity requirements in public policy
The ISA Global Cybersecurity Alliance (ISAGCA) announced the release of a position paper detailing the automation cybersecurity public policy views of the organization and its fifty industry-leading companies. Recent discussions have surfaced in the United States and other world governments about how to best secure automation and control systems that affect our everyday lives, especially […]
Posted inDRILLING & PRODUCTION
Offshore acreage dominates global licensing rounds that are due to close in H2 2021
Over 35% of the acreage available in licensing rounds that are either open or scheduled to close in H2 2021 are located in shallow water
Over 35% of the acreage available in licensing rounds that are either open or scheduled to close in H2 2021 are located in shallow water, while ultra-deep water and deepwater acreage account for 24% and 19%, respectively, according to GlobalData, a leading data and analytics company. The company’s report, ‘H2 2021 Global Bid Round Outlook – […]
Posted inDRILLING & PRODUCTION
TAQA Group reports AED2.9 billion H1 net income
It represents a 42% year-on-year increase adjusted for one-offs charges in H1 2020
Abu Dhabi National Energy Company PJSC (“TAQA”, the “Company” or the “Group”), one of the largest listed integrated utilities in the region, reported consolidated financial results for the period ended June 30, 2021. TAQA delivered a strong performance underpinned by its stable contracted and regulated utilities businesses. Results were boosted by improved commodity prices in […]
Posted inDRILLING & PRODUCTION
Is CCS the upstream sector’s silver bullet?
Carbon capture moves into the mainstream, but significant hurdles remain
We may only be halfway through 2021, but it is already shaping up to be a breakthrough year for carbon capture and sequestration (CCS) to emerge as a viable tool for upstream companies to decarbonise operations. Although the concept has been around for decades, CCS is moving into the mainstream. All the industry’s largest companies […]
Posted inExploration & Production
Dana Gas reports $139 million net profit in H1 2021
Gross profit increased by 133% to $91 million and revenue increased by 19% to $216 million
Dana Gas PJSC (the “Company”), the Middle East’s largest regional private sector natural gas company, today announced its financial results for the half year ended 30 June 2021. The Company has delivered one of its strongest half-yearly results with H1 2021 net profit of $139 million (AED 511mm) compared to a loss of $19 million […]
Posted inExploration & Production
Southeast Asia to increasingly rely on LNG imports through 2030
Southeast Asia represents a key growth region for natural gas over the next decade as populations and economies continue to grow
Despite being a net exporter of liquefied natural gas, Southeast Asia is set to increasingly rely on imported LNG through 2030 to meet the growing demand and support the waning domestic supplies, says GlobalData, a leading data and analytics company. Southeast Asia represents a key growth region for natural gas over the next decade […]
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Onshore pipeline project costs to increase by 4%-6% by end-2022
Prices of raw materials, transportation, and labor costs are behind the expected increase
The costs associated with onshore pipeline projects are likely to increase by between 4% and 6% globally by the end of 2022 against current levels, a Rystad Energy analysis reveals, as prices continue to surge for labor, raw materials and transportation. Materials in particular – which account for 30%-40% of the total cost for a […]
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10 best practices to reimagine turnaround maintenance
Experts from the Boston Consulting Group map out the steps to improve turnaround maintenance for the heavy manufacturing and processing sectors
While turnaround maintenance can be a expensive, messy affair, it is essential to asset performance. They have rarely been a focus of companies from a cost or value creation perspective. In today’s post-pandemic world, as companies struggle to cope with the new normal, effective turnarounds can be a strong source of cost savings, quality, and […]
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How one organisation optimised digital twins in upstream design processes
These digital solutions are facilitating remote collaboration in the oil and gas sector