The Middle East is set to spend as much as $120 billion to increase gas production by 14 billion standard cubic feet a day (bcfd) to 86 bcfd by 2030, according to a new report by Wood Mackenzie. The report ‘The Middle East steps on the gas’ shows gas supply growth in the Middle East […]
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An inside look at Saudi Arabia’s push to produce cleaner oil
At the heart of an oil-rich kingdom pumping millions of crude oil per day is an ambitious vision to slash emissions and transition towards clean energy. Interestingly, the kingdom is injecting money in both. Saudi Arabia is transitioning to bridging solutions and shifting towards cleaner gas-burning instead of oil for its energy production, using gas […]
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ADNOC, TotalEnergies sign $1.2 billion strategic agreement
ADNOC’s gas unit has announced a three-year supply agreement with French multi-energy company TotalEnergies Gas and Power Ltd, a subsidiary of TotalEnergies for the export of LNG. The value of the agreement is between $1 billion to $1.2 billion under current market conditions, ADNOC said in a press release. Under the terms of the agreement, […]
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Gault&Millau UAE Gala Awards 2023 set to celebrate the best
The Gault&Millau gala awards will take place at Burj Al Arab on Thursday, April 27. The Gault&Millau awards will cover 12 categories, including a new one, “Champagne Offering of the Year.” The event will also reveal the ratings of the 134 restaurants that made it onto the 2023 guide. The awards will have 12 categories, recognising excellence […]
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Malaysian contractor lands $50 million contract for Qatar’s giant gas field
Malaysia’s Ranhill Utilities has confirmed that its joint venture with global engineering major Worley has been awarded an engineering contract for work on giant offshore compression facilities for Qatar’s North Field Production Sustainability (NFPS) project. The contract worth approximately $50 million from a subsidiary of Italy’s Saipem includes engineering design work, which is expected to […]
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Inside Abu Dhabi’s $30 billion Upper Zakum megaproject
The Upper Zakum Oil Field is the largest producing field in ADNOC’s portfolio. It is also the second-largest offshore oil field and the fourth-largest oil field in the world. As part of ADNOC’s ambitious target to accelerate the delivery of its 2030 smart growth strategy, the company plans to increase the field capacity of Upper […]
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Inside Saudi Aramco’s $21 billion Jazan Refinery Complex
In 2006, Saudi Arabia made ambitious plans to build a new industrial city in Jazan, in the far south-west of the Kingdom. The main aim of this initiative, the Jazan Economic City Project, was to expand the economic development of the region. At the heart of the project is Aramco’s fully integrated Jazan Refinery and […]
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Aramco’s massive production expansion to support China’s energy strategy, CEO Amin Nasser says
Saudi Aramco’s oil production capacity expansion by a million barrels per day to 13 million barrels by 2027 will strengthen China’s long-term energy security, company President and CEO Amin H Nasser told China Development Forum 2023. In addition, the oil major will increase its gas production by more than 50% by 2030, which should release an additional […]
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African banks invest $16 billion in oil and gas projects
The African Export-Import Bank (Afreximbank) and the African Finance Corp (AFC) have invested about $16 billion in oil and gas projects across Africa, the Guardian reported. This was disclosed at the recent African Refiners and Distribution Association conference in South Africa, where stakeholders urged companies to keep funds within the continent to finance the over […]
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Aramco, DHL to build procurement and logistics hub for the energy sector
Saudi Aramco announced on Monday a new end-to-end procurement and logistics hub joint venture with logistics firm DHL Supply Chain. The new venture, which is expected to be operational in 2025, aims to provide top-notch integrated procurement and logistics services to further enhance supply chain efficiency as well as sustainability in the region, Aramco noted in a press release. The JV, which the […]