Qatar’s state owned energy giant, QatarEnergy, has engaged in talks with several Asian nations to take an equity stake in Qatar’s massive $30 billion North Field East expansion project. “There is a hot competition to associate with the prestigious North Field expansion project,” al-Kaabi told Gulf Times at a media event at the QatarEnergy headquarters. […]
oil and gas
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ADNOC makes $11 billion offer to take over German chemicals firm
Abu Dhabi National Oil Co (ADNOC) has approached German plastics and chemicals maker Covestro with an acquisition proposal worth more than $10.9 billion, Reuters reported, citing two people familiar with the matter. The energy giant has made an informal offer to Covestro, a maker of transparent polycarbonate plastics, as well as chemicals for insulation and […]
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Oman’s OQ signs 10-year LNG supply deal with Bangladesh
Oman’s OQ Trading has signed a new long-term LNG deal with Bangladesh state-owned Petrobangla to supply up to 1.5 million tonnes per annum of LNG from 2026. Under the new government-to-government deal, state-owned OQ will supply at least four LNG cargoes to Bangladesh starting in 2026, further increasing supplies to 16 cargoes in both 2027 […]
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UAE, Saudi, Oman: Top 5 oil and gas project launches to watch out for
Despite increasing calls from climate activists, the Middle East is expected to commence over 600 projects between 2023 and 2027, according to data from GlobalData Energy. Out of these, upstream projects would be 81, midstream would be 141, the refinery at 84, and petrochemicals would be the highest with 315 projects. Here is a list […]
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QatarEnergy set to sign second LNG megadeal with China
QatarEnergy is set to secure its second large gas supply deal with China in less than a year, Reuters reported, citing sources familiar with the deal. China National Petroleum Corp (CNPC) and QatarEnergy are expected to sign a 27-year agreement later today, under which China will purchase 4 million metric tons of LNG a year […]
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Palestinian economy could get much-needed boost after Israel approves Gaza Strip gas development
Israel gave preliminary approval for the development of a gas field off the Gaza Strip on Sunday—a move that would be a boost for the cash-strapped Palestinian economy. Israel, however added, that the approval would require security coordination with the Palestinian Authority and neighbouring Egypt. Announcing the move on the Gaza Marine project, Prime Minister […]
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Jordan’s Risha gas compression project to begin operations this year: Minister
Jordan’s gas compression plant (Jordan chlorine) that is currently under construction in the Risha area, will complete installation of gas units in two months and will be commercially operational by the end of this year, the Jordan Times reported, citing Jordan’s Minister of Energy and Mineral Resources Saleh Kharabsheh. The gas plant, which is one […]
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Qatar to build major oil refinery in Iraq and launch new company for oil tankers
Qatar and Iraq have signed an an MoU to establish a 150,000 barrels per day oil refinery in Iraq, the Peninsula reported. Both countries have also signed an MoU to establish a joint company that will build and operate oil tankers that carry crude oil and petroleum products according to the laws in force in […]
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UN chief slams carbon capture; calls oil and gas producers ‘planet wreckers’
UN secretary-general António Guterres attacked the oil and gas industry attempts to justify fossil fuel expansion with carbon capture technology as “proposals to become more efficient planet wreckers”, in a speech that appeared to be take aim at the UAE hosts of COP28, the Financial Times reported. The industry’s stated plans to deal largely with […]
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Algeria’s Sonatrach signs $800 million contract for oil and gas projects
The contract includes the construction of an LPG extraction unit, the drilling of twelve oil wells, and one water injection well among other projects
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