(International Energy Agency, 18.Oct.2024) — The strong momentum behind LNG project development continued in 2024 even with no US projects reaching final investment decision Since Russia’s full-scale invasion of Ukraine, over 150 bcm per year of LNG liquefaction capacity has been approved. The United States alone accounted for 75% of […]
Category: Middle East
Israel Conflict Gains Grip as Output: Rystad Says
(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 […]
Saudi Arabia Eyes Boosting Production by 1 MMb/dÂ
(Energy Analytics Institute, 4.Oct.2024) — Saudi Arabia looks to add around 1 MMb/d of production over the next 12-15 months to reach close to 10 MMb/d by the end of 2025, according to a recent Opec report. The production increase is part of a plan by the Kingdom to stop ceding […]
LatAmNRG matters, highlights, heard: Argentina LNG, $7.3bn Amber-Citgo deal
HOUSTON, TEXAS (By editors at Energy Analytics Institute, 4.Oct.2024, Words: 423) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 4 Oct. 2024. LATIN AMERICA —Argentina: Malaysian energy giant Petronas, which has generated a ton of noise in recent wks about its rumored departure from […]
QatarEnergy LNG Awards McDermott EPCI Contract for the NFS
(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 […]
SLB and ADNOC Drilling Partner for Unconventional Development
(SLB, 30.Sep.2024) — SLB announced an agreement to create Turnwell Industries LLC OPC, a joint venture (JV) with ADNOC Drilling Company, SLB and Patterson-UTI. The JV will allow the three companies to leverage leading innovations in AI, smart drilling design, completions engineering and production solutions. The JV will focus on […]
Saudi Arabia Signals Oil Policy Shift
(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
(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 BOTAĹž for 10 Years
(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 BOTAĹž 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
(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”Â
(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 ChinaÂ
(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
(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 […]
Amigo LNG inks LNG supply deal with OQ Trading, Oman
MEXICO CITY, MEXICO (Fidencio Casillas, Energy Analytics Institute, 30.Aug.2024, Words: 233) — Amigo LNG SA de CV of Mexico, a subsidiary of LNG Alliance Pte Ltd, Singapore, entered into a binding Heads of Agreement (HOA) with OQ Trading (OQT), the trading arm of the national energy company of the Sultanate of Oman, to supply liquefied […]
Tethys Oil’s Production Update — July 2024
(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 […]
US LNG Industry Under Pressure as Challenges and Uncertainty Mount
(FT.com, 17.Aug.2024) — The US liquefied natural gas industry faces mounting challenges as legal clashes with activists and contractors combine with a federal permitting freeze to slow the expansion of the world’s biggest exporter. Two multibillion-dollar terminals under construction on the Texas Gulf Coast backed by supermajors ExxonMobil and TotalEnergies […]
Scientists: Epoch Marked by human impact — the Anthropocene — Began in 1950s
(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
(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
(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 […]
Colombia Will Suspend Coal Exports to Israel over War in Gaza
(AP, 8.Jun.2024)) — President Gustavo Petro announced on Saturday that his country will suspend coal exports to Israel over the war in Gaza, as relations sour between two countries that were once close military and commercial allies. Petro wrote on the social media platform X that coal exports will only resume “when […]
Israel Risks Losing Colombian Coal Supplies over Gaza War
(Bloomberg, 6.Jun.2024) — Colombia’s trade ministry is calling for a restriction on coal sales to Israel in the latest bid to isolate the Jewish state as the death toll rises in its Gaza campaign. The ministry made the recommendation to “limit” shipments of the fuel to a committee that rules […]
Field Development Plan for Block 56 Submitted to MEM
(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
(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 […]
Petrobras Ranking by Poder 360
(Energy Analytics Institute, 18.May.2024) — In 2023, Petrobras was the 4th most profitable oil company. Saudi Arabia’s Saudi Aramco remains the leader, on its own, according to Poder 360. Petrobras ranked above other oil majors, including some with higher revenues. This is the case of the British BP, the Norwegian […]
ADNOC Delivers Bulk Shipment of CCS-Enabled Certified Low-Carbon Ammonia to Japan
(ADNOC, 14.May.2024) — ADNOC delivered the world’s first certified bulk commercial shipment of low-carbon ammonia enabled by carbon capture and storage (CCS) to Mitsui & Co., Ltd. for use in clean-power generation in Japan. The low-carbon certification process, from production to delivery, has been conducted by TĂśV SĂśD, an internationally […]
Subsea Integration Alliance Awarded Contract Offshore TĂĽrkiye
(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 TĂĽrkiye. The award will be booked in backlog in Q2 2024. An initial contract was awarded in May 2023 to a […]
Karpowership and Petrobras to Enhance Integrated Gas Projects in the Americas
(Karpowership, 7.May.2024) — Karpowership and Petrobras signed a Memorandum of Intent (MoI) to combine their respective expertise in the natural gas and power sectors. This includes liquefaction for both floating and onshore natural gas, storage of natural gas and LNG, as well as regasification programs, to guarantee supply and meet the […]
CERAWeek 2024 Boasts Delegate Attendance of 8,100+Â
(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
(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
(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
(SSR Mining, 18.Feb.2024) — SSR Mining Inc., in regards to ongoing rescue efforts at the Çöpler mine in TĂĽrkiye, 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
(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
(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
(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 […]
QatarEnergy, Excelerate Energy Ink 15-Year Supply Deal for Bangladesh
(QatarEnergy, 29.Jan.2024) — QatarEnergy and Excelerate Energy signed a long-term LNG sale and purchase agreement (SPA) for the supply of LNG from Qatar to Bangladesh. Pursuant to the SPA, Excelerate will purchase up to one million tons per annum (MTPA) of LNG from QatarEnergy to be delivered to floating storage […]
Exergy Supports Decarbonization in TurkeyÂ
(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 […]
Ministerial Roundtable Sets Stage for Future Minerals Forum 2024
(Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, 8.Jan.2024) — The Ministerial Roundtable, a pivotal precursor to the third edition of the Future Minerals Forum, is poised to take the spotlight on 9 Jan. 2024. Led by its Chair, H.E. Bandar Ibrahim AlKhorayef, Minister of Industry and Mineral […]
EAI’s NRGBriefs: Dec. 2023
(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
(S&P Global, 14.Dec.2023) — 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
(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
(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 […]
TotalEnergies and Masdar Demonstrate Methanol-to-SAF Pathway
(TotalEnergies, 6.Dec.2023) — The first test flight to demonstrate the potential for converting Methanol to SAF (Sustainable Aviation Fuel) has taken place in Dubai on the sidelines of COP28 in the UAE. Masdar, TotalEnergies, the UAE General Civil Aviation Authority, Airbus, Falcon Aviation Services and technology licensor Axens all contributed […]
IDB Invest and IFC Launch Amazon Finance Network
(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
(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
(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
(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
(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
(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 […]
Eni Inks LNG Deal Related to Qatar’s North Field East Expansion Project
(Eni, 23.Oct.2023) — Eni signed a long-term contract with QatarEnergy LNG NFE (5), the JV between Eni and QatarEnergy for the development of the North Field East (NFE) project in Qatar, for the delivery of up to 1.5 billion cubic meters per annum (bcma) of LNG. The available volumes will […]
GITEX Impact Raises the Bar for Climate Tech and Sustainability Leadership
(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 […]