Category: Middle East

COMMENTARY: Time for the US, OPEC, Europe China, Asia and Russia to Negotiate

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CARACAS, VENEZUELA (Carlos A. Rossi, Energy Analytics Institute, 5.Mar.2025) — A crucial point behind Europe’s motivation to support Ukraine’s president Volodymyr Zelenski is simply to not be left behind and ignored in any oil derivative deal certain to come out of any peace negotiation between the US and Russia. Europe understands […]

bp and Iraq Reach Final Agreement for Kirkuk Oil Field Redevelopment

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HOUSTON, TEXAS (Editors at Energy Analytics Institute, 25.Feb.2025) — bp reached agreement on all contractual terms with Iraq to invest in several giant oil fields in Kirkuk providing for the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential for investment in exploration.  The agreement […]

CERAWeek by S&P Global: Houston, 10-14 Mar. 2025

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HOUSTON, TEXAS (S&P Global, 10.Feb.2025) — The 43rd annual gathering of CERAWeek by S&P Global—the world’s preeminent energy conference—will convene energy industry leaders, experts, government officials and policymakers, as well as leaders from the technology, financial and industrial communities, 10-14 Mar. 2025 in Houston. CERAWeek 2025: Moving Ahead: Energy strategies for […]

ADNOC Gas Reports Net Income of $5bn in 2024

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HOUSTON, TEXAS (Energy Analytics Institute, 6.Feb.2025) — ADNOC Gas plc and its subsidiaries reported record earnings for the full year (FY) 2024 of $5bn, and its highest quarterly income of $1.38bn since its initial public offering (IPO), significantly ahead of the Bloomberg consensus for both periods. “Our record-breaking fourth quarter […]

PDO Awards Viridien 3-year Contract Seismic Imaging Services in Oman

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HOUSTON, TEXAS (Editors  at Energy Analytics Institute, 28.Jan.2025) — Petroleum Development Oman (PDO) awarded Viridien a 3-year contract to provide advanced land seismic imaging services at its dedicated processing center (DPC) in Muscat, Oman.  The new contract continues a longstanding collaborative partnership between Viridien and PDO, the French company said […]

SSR Mining Updates on Expert Findings of Çöpler Incident

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(Editors at Energy Analytics Institute, 15.Jan.2025) — SSR Mining, following the Çöpler Incident, commissioned Call & Nicholas, Inc. (CNI) to conduct an independent review of the heap leach failure at Çöpler. After analysis of the engineering design, construction, and operation of the heap leach facility, and comprehensive reverse-engineering of the […]

EAI’s NRGBriefs Dec. 2024: Exxon Guyana, Venture Global IPO, Rio Tingo Argentina

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(Energy Analytics Institute, 31.Dec.2024) — Energy briefs as well as others related to finance and projects during Dec. 2024 including Venture Global filing for IPO; Rio Tinto approving $2.5bn to expand the Rincon project in Argentina; ExxonMobil, with the announcement of the Hammerhead and Longtail projects offshore Guyana, looking to […]

TotalEnergies Celebrates 50 Years in Saudi Arabia

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(TotalEnergies, 3.Dec.2024) — On the occasion of French President Emmanuel Macron’s state visit to the Kingdom of Saudi Arabia and as the TotalEnergies celebrates 50 years of operations in the country, TotalEnergies underlines the importance of its strategic partnership in the field of energy with the Kingdom under the patronage […]

KBR Wins FEED Contract for Sur LNG Train 4 Project in Oman

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(Energy Analytics Institute, 7.Nov.2024) — KBR has been awarded a front-end engineering design (FEED) contract for the expansion of the Qalhat LNG complex in Sur, Oman.  Under the FEED contract, KBR will provide engineering services for the complex’s fourth LNG train, which will have a capacity of 3.8 million tons […]

CNOOC Africa Inks EDPC with Midland Oil Company in Iraq

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(Energy Analytics Institute, 29.Oct.2024) — CNOOC Limited’s wholly owned subsidiary, CNOOC Africa Holding Ltd., entered into an Exploration, Development & Production Contract (EDPC) with Midland Oil Company (Md.O.C) for Block 7 in Iraq. Block 7 is mainly located in Province Diwaniyah, with an area of 6,300 km2, CNOOC said 29 […]

QatarEnergy and TotalEnergies to Partner in Solar Project in Iraq

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(Energy Analytics Institute, 28.Oct.2024) — QatarEnergy inked a partnership agreement with the French oil giant TotalEnergies to enter into a solar power project that is part of the Gas Growth Integrated Project (GGIP) in Iraq. Per the agreement, which is subject to regulatory approvals, QatarEnergy will buy a 50% interest […]

Israel Conflict Gains Grip as Output: Rystad Says

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(Rystad, 17.Oct.2024) — Here is Rystad Energy’s market update from Middle East Research Director, Aditya Saraswat. “Tensions are persisting in the Middle East and the humanitarian toll is climbing. Energy market fundamentals have been largely unaffected to date, but this could change at a moment’s notice. In a widespread regional […]

QatarEnergy LNG Awards McDermott EPCI Contract for the NFS

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(McDermott, 3.Oct.2024) — McDermott has been awarded an engineering, procurement, construction and installation (EPCI) contract by QatarEnergy LNG for the North Field South (NFS) Offshore Pipelines and Cables Project. This new contract is in addition to the awards received by McDermott earlier for the NFS Pipelines FEED, the NFS Jackets […]

Saudi Arabia Signals Oil Policy Shift

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(The Washington Institute, 27.Sep.2024) — The kingdom anticipates and accepts lower oil prices, according to a news report, but the impact on other producers could be comparatively damaging.  On September 26, an exclusive in the Financial Times indicated that Saudi Arabia is ready to abandon its unofficial oil price target of $100 […]

Masdar to Buy Saeta from Brookfield for $1.4bn

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(Masdar, 24.Sep.2024) — Abu Dhabi Future Energy Company PJSC (Masdar), the UAE’s clean energy powerhouse, announced the proposed acquisition of Saeta Yield from Brookfield Renewable, together with its institutional partners (Brookfield), for an implied enterprise value of c. US$1.4bn (€1.2bn).  Closing of the transaction is subject to customary approvals and is expected […]

TotalEnergies to Supply 1.1 mtpa to BOTAƞ for 10 Years

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(Energy Analytics Institute, 18.Sep.2024) — In line with its strategy to grow its long-term liquefied natural gas (LNG) sales, TotalEnergies signed a Heads of Agreement (HoA) with BOTAƞ for the delivery of 1.1 million tons per annum (mtpa) of LNG for ten years starting from 2027. This agreement allows TotalEnergies to […]

Saipem Awarded Offshore Contract in Saudi Arabia Worth$2bn

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(Energy Analytics Institute, 16.Sep.2024) — Saipem has been awarded a new offshore contract worth $2bn, under the existing Long-Term Agreement (LTA) with Saudi Aramco, for the development of the Marjan field in Saudi Arabia. The award follows the completion of the bidding procedure, and the occurrence of the usual preliminary […]

QatarEnergy Inaugurates the “Rex Tillerson” 

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(QatarEnergy, 10.Sep.2024) — QatarEnergy inaugurated the first conventional-size LNG vessel under its historic shipbuilding program. The “Rex Tillerson” was named after the former Chairman and CEO of ExxonMobil as a tribute to his life-long accomplishments in the energy sector. The traditional naming ceremony was held at the Hudong-Zhonghua Shipyard in the […]

QatarEnergy to Build 6 New QC-MAX LNG Vessels in China 

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(QatarEnergy, 9.Sep.2024) — QatarEnergy signed an agreement with China State Shipbuilding Corporation (CSSC) for the construction of 6 additional state-of-the-art QC-Max vessels, bringing the total number of LNG vessels on order under its fleet expansion program to 128, including 24 QC-Max mega vessels. The QC-Max vessels, which will be built […]

Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman Extend Cuts

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(Opec, 5.Sep.2024) — The OPEC+ countries, which previously announced additional voluntary cuts in Apr. and Nov. 2023, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, held a virtual meeting on 5 Sep. 2024, during which the eight member countries emphasized their collective resolve to […]

Tethys Oil’s Production Update — July 2024

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(Tethys, 20.Aug.2024) — Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman, in July 2024 amounted to 238,290 barrels of oil, corresponding to 7,687 barrels of oil per day. The Official Selling Price (OSP) for Oman Export Blend Crude Oil for the […]

Scientists: Epoch Marked by human impact — the Anthropocene — Began in 1950s

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(AP, 11.Jul.2024) — From climate change to species loss and pollution, humans have etched their impact on the Earth with such strength and permanence since the middle of the 20th century that a special team of scientists says a new geologic epoch began then. Called the Anthropocene — and derived […]

Nippon Steel on Construction Project for Blue Ammonia Plant in Qatar

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(Nippon Steel, 14.Jun.2024) — Nippon Steel Corporation, in a joint endeavor with Sumitomo Corporation, has received orders for high-alloy seamless OCTG that it manufactures for a CCS(Note 1) project intended for a project to construct blue ammonia(Note 2) manufacturing plant (common name: Ammonia 7) that QatarEnergy (Head Office: State of Qatar), an Energy […]

Qatar Shipyard Receives Remove Survey Approval

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(ABS, 10.Jun.2024) — As part of a pioneering joint development project (JDP), ABS approved a range of ship repair and retrofit work processes for remote survey at Qatar Shipyard and Technology Solutions. ABS tested, validated and approved remote survey techniques at Qatar Shipyard and Technology Solutions for a number of survey […]

Field Development Plan for Block 56 Submitted to MEM

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(Tethys Oil, 4.Jun.2024) — Tethys Oil has, through its wholly owned subsidiary, achieved a significant milestone in its exploration and appraisal activities by submitting its first comprehensive Field Development Plan (“FDP”) for Block 56, Mudawrat Concession, to the Omani Ministry of Energy and Minerals (“MEM”) for review and approval. The […]

Saudi Arabia Sets up New Aramco Share Sale

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(Reuters, 30.May.2024) —  Saudi Arabia’s government on Thursday filed papers to sell a new stake in state oil giant Aramco that could raise as much as $13.1 billion, a landmark deal to help fund Crown Prince Mohammed bin Salman’s plan to diversify the economy. In the main part of the deal, Saudi […]

Subsea Integration Alliance Awarded Contract Offshore TĂŒrkiye

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(Subsea7, 10.May.2024) — Subsea 7 S.A. announced the award of a large1 contract by Turkish Petroleum Offshore Technology Center AS (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore TĂŒrkiye. The award will be booked in backlog in Q2 2024. An initial contract was awarded in May 2023 to a […]

CERAWeek 2024 Boasts Delegate Attendance of 8,100+ 

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(Energy Analytics Institute, 22.Mar.2024) — The CERAWeek by S&P Global, held 18-22 Mar. 2024 in Houston, Texas, boasted in attendance 8,100+ delegates (9,400+ when counting staff, vendors etc), a record compared to the prior record of 7,200+ delegates at CERAWeek 2023. CERAWeek counted on 1,400 speakers and tons of S&P […]

Aramco Reports 2023 Net Income of $121.3bn

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(Aramco, 10.Mar.2024) — The Saudi Arabian Oil Company announced its full-year 2023 financial results, reporting a net income of $121.3bn, its second-highest ever net income. The results, underpinned by Aramco’s unique operational flexibility, reliability and low-cost production base, reflect the company’s ongoing commitment to creating value for its shareholders.  ____________________

Concacaf and Aramco Ink Multi-year Partnership

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(Aramco, 23.Feb.2024) — Concacaf has agreed to a multi-year Confederation-wide partnership with Aramco, a global integrated energy and chemicals company.  Aramco will become the “Official Energy Partner” for all of Concacaf’s national teams and club competitions, beginning with the upcoming W Gold Cup, commencing today through to the Final on […]

SSR Mining Updates on Rescue Efforts at Çöpler Mine

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(SSR Mining, 18.Feb.2024) — SSR Mining Inc., in regards to ongoing rescue efforts at the Çöpler mine in TĂŒrkiye, said search and rescue efforts to locate nine missing workers following the 13 Feb. 2024 incident at the Çöpler mine continue. “Our thoughts continue to be with the families of the […]

TotalEnergies Reveals Positive Appraisal of Cronos Gas Find in Cyprus

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(TotalEnergies, 15.Feb.2024) — TotalEnergies announces the successful completion of the drilling and production test of the Cronos-2 appraisal well, in Block 6, offshore Cyprus. TotalEnergies holds a 50% interest in Block 6, alongside with Eni (50%, operator). The Cronos-2 well confirmed the lateral extension of the Cronos-1 discovery drilled in […]

Aramco’s Shift to Abandon 13 MMb/d Capacity Target

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(WoodMac, 1.Feb.2024) — Addressing the Saudi Ministry of Energy’s instructions to Saudi Aramco to abandon its 13 million barrels per day (b/d) target and maintain 12 million b/d, Ann Louise Hittle, vice president of Oil Markets for Wood Mackenzie, said “Based on our forecast for oil demand to peak in […]

EAI’s NRGBriefs: January 2024

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(Energy Analytics Institute, 31.Jan.2024) — Energy briefs as well as others related to finance and projects during Jan. 2024 including Washington reviewing its sanctions policy on Venezuela; QatarEnergy confirming that Qatar’s LNG production continues uninterrupted; Evercore ISI continuing on Biden’s moves to pause on LNG export terminal approvals; an S&P […]

Exergy Supports Decarbonization in Turkey 

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(Exergy International, 16.Jan.2024) — Exergy International, a global provider of clean energy technology, leader in new generation geothermal ORC power plants, yesterday signed a contract with Emirler Enerji Elektrik Uretim A.S. for the supply of a 8 MWe geothermal binary plant, the Emirler 1 JES Unite 2, located in Saraykoy, in Denizli region, Turkey. Exergy […]

EAI’s NRGBriefs: Dec. 2023

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(Energy Analytics Institute, 31.Dec.2023) — Energy briefs as well as others related to finance and projects during Dec. 2023 including why Venezuela wants to annex the Essequibo; Petrobras acquiring 29 blocks in the Pelotas basin in the 4th Permanent Concession Offer Cycle of the National Agency of Petroleum, Natural Gas […]

S&P Global Releases its 2024 Energy Outlook

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(S&P Global, 14.Dec.2023)  â€” Analysts at S&P Global Commodity Insights, an independent provider of information, data, analysis, benchmark prices and workflow solutions for the commodities, energy and energy transition markets, today released their latest 2024 energy outlook. OVERVIEW After years of turbulence, global markets are still striving to find sustainable […]

Sungrow Spearheads Iraq’s Renewable Energy Revolution

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(Sungrow, 11.Dec.2023) — In a strategic move toward harnessing the untapped potential of Iraq’s solar landscape, Sungrow is taking the lead in shaping the nation’s green energy sector. Iraq’s Minister of Oil, Ihsan Abdul Jabbar, stressed the importance for Arab countries to prioritize high-efficiency, low-cost energy production to foster a modern economy. The country […]

Ellomay Capital on Results of 2023 AGM

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(Ellomay, 11.Dec.2023) — Ellomay Capital Ltd. (NYSE American: ELLO) (TASE: ELLO), a renewable energy and power generator and developer of renewable energy and power projects in Europe, USA and Israel, announced that at the annual general meeting of the company’s shareholders, held on 11 Dec. 2023 (the “AGM“), the following proposals were adopted and approved by […]

IDB Invest and IFC Launch Amazon Finance Network

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(IDB Invest, 5.Dec.2023) — During COP28, IDB Invest and IFC announced the launch of the Amazon Finance Network, bringing together financial institutions to increase investment flows, mobilize capital, promote financial inclusion, share knowledge on innovative financial solutions, and generate synergies with the public sector. The initiative aims to generate sustainable impact […]

Global Centre Launched to Accelerate Climate Finance

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(GCFC, 4.Dec.2023) — Abu Dhabi will host a pioneering Global Climate Finance Centre (GCFC), that will accelerate the development of climate finance frameworks and skills, and champion best practices in the UAE and globally. The GCFC aims to address key barriers linked to financial frameworks that hinder investment flows, to help make […]

Rainforest Nations Back Projects Funded Through Carbon Market

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(Equitable Earth, 3.Dec.2023) — Today at the UN Climate Change Conference (COP28), Ministers and Indigenous leaders from the most important tropical forests in the world spoke at the launch of Equitable Earth – a new voluntary carbon market standard designed to drive climate finance directly to Indigenous peoples and traditional communities. […]

Countries, Companies Support Energy Transition Accelerator

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(The Rockfeller Foundation, 3.Dec.2023) — Today at COP28, the United Nations Climate Change Conference, the U.S. Department of State, the Bezos Earth Fund, and The Rockefeller Foundation presented the core framework of the Energy Transition Accelerator (ETA), an innovative carbon finance platform aimed at catalyzing private capital to support ambitious just […]

CGG Sells its Stake in ARGAS to TAQA

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(CGG, 21.Nov.2023) — CGG has entered into a definitive agreement with Industrialization and Energy Services Company (TAQA) to sell its entire 49% stake in Arabian Geophysical and Surveying Company (ARGAS). The transaction is expected to close this year, subject to satisfying relevant conditions. Sophie Zurquiyah, CEO CGG, said “The sale […]

Sungrow Announces Renewable Energy Solutions to Support Saudi’s Vision 2030

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(Sungrow, 1.Nov.2023) — Sungrow, the global inverter and energy storage system supplier, introduced its state-of-the-art solar-plus-storage energy solutions covering utility-scale, C&I and residential scenarios during the Solar Show KSA 2023. The solutions incorporate cutting-edge technologies in the industry, aiming to accelerate Saudi Arabia’s transition from traditional energy to clean power and increase […]

GITEX Impact Raises the Bar for Climate Tech and Sustainability Leadership

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(GITEX, 18.Oct.2023) — Building on the momentum of COP28, GITEX GLOBAL debuted GITEX Impact, the region’s largest climate tech catalyst for sourcing clean energy solutions towards tackling global warming. The show brings together sustainability leaders to source and discuss green transition solutions and strategies, empowering climate tech companies and startups with the […]

Venezuela, Opposition Will Restart Talks, US Could Ease Sanctions

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(Reuters, 16.Oct.2023) — Venezuela’s government and the country’s opposition will return to political negotiations, the two sides said on Monday, while sources said the United States has reached a preliminary deal to ease sanctions if President Nicolas Maduro follows through on a commitments related to a 2024 election. Maduro’s representatives […]

Expo City Dubai is the Venue for COP28

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(UAE Embassy in the US, 12.Oct.2023) — The UAE will host the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) from November 30 to December 12, 2023 at Expo City Dubai to unite the world towards agreement on bold, practical and ambitious solutions to the most pressing […]

OPPO’s Commitment to Sustainability: Enhancing Product Durability and ESG Contribution 

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(OPPO, 6.Oct.2023) — In an era where environmental consciousness is paramount, consumers are increasingly valuing the longevity and eco-friendliness of their tech products. OPPO, the global technology innovator, not only recognizes this shift in consumer priorities but is actively enhancing product quality to ensure lasting durability while minimizing environmental impact. With […]