Oman is offering three oil and gas concession areas, Blocks 15, 36 and 54, for investments by local and international local companies, the Ministry of Energy and Minerals said on Sunday. The offering is open between March 26 and June 25, according to the statement published on Twitter. Block 15 is located in the Sultanate […]
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Iraq, TotalEnergies to finalise $27 billion deal soon, says oil minister
French oil major TotalEnergies and Iraq will soon finalise a long-delayed $27 billion energy deal and talks “have reached advanced stages”, Reuters reported, citing Iraqi oil minister Hayan Abdel-Ghani. “We will activate the deal very soon,” Abdel-Ghani said at an energy event. The proposed deal, which Baghdad hopes will revive foreign investment in the country, […]
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Aramco targets $55 billion investments; eyes increased oil and gas production
Aramco, the world’s most profitable energy company forecast its capital expenditure for 2023 between $45 to $55 billion in its largest spending exercise to date as it looks to increase its output capacity to 13 million b/d by 2027, the Saudi giant said in its full year financial results on March 12. Aramco continues to […]
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Aramco reports record net income of $161.1 billion on higher oil prices
Saudi energy giant Aramco today announced its full-year 2022 financial results, reporting a record net income of $161.1 billion — its highest annual profits as a listed company. Aramco also declared a fourth quarter dividend of $19.5 billion, to be paid in the first quarter of 2023. The exceptional financial performance was underpinned by stronger […]
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Top 10 risks facing the oil and gas sector
Amid uncertainty and potential volatility coupled with rising and diminishing consumer demand, price fluctuations, and geopolitical tensions, here are the top ten risks faced by the oil and gas industry
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ADNOC Drilling reports record profits, $10 billion contracts in 2022
ADNOC Drilling Co today reported record breaking net profits totaling $802 million, up 33% year-on-year. Additionally, the company secured over $10 billion of contract backlog during the period, ADNOC Drilling’s CEO Abdulrahman Abdulla Al Seiari noted. The company also achieved record revenue during the fourth quarter of 2022, while its fleet expansion program delivered the […]
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Egypt set to launch three oil and gas project tenders
Egypt will announce three tenders this year for oil and gas exploration and production projects, the country’s Petroleum and Mineral Resources Minister Tarek El Molla said at the opening ceremony for the Egypt Petroleum Show on Sunday. “Egypt plans to hold three international tenders in 2023 for oil and gas exploration and production,” the Nile […]
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Oman signs long-term LNG supply agreements with Japan
The contracts will run over five and 10 years, beginning in 2025
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Saudi Aramco reportedly talking to investors for $110 billion Jafurah gas project
According to Bloomberg, Aramco is seeking equity investors to fund the development of midstream and downstream projects at Jafurah
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Aramco receives bids from EPC contractors for giant offshore expansion
Saudi oil giant Aramco has received bids from its pool of long-term agreement (LTA) contractors for the Manifa offshore development expansion, data from DMS Projects shows. The Saudi energy giant’s expansion project, which is scheduled to be completed by 2025, aims to increase the output capacity of key offshore hydrocarbons installations in the kingdom, and […]
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