Middle East
Saudi Aramco's Capacity Cut and Pipeline Incident Trigger 11% Drop in Saipem Shares
Shares in Italian energy contractor Saipem plunged by 11% on Tuesday after damage caused by an incident involving one of its pipe-laying vessels and a decision by Saudi Aramco to drop its oil capacity expansion plans.
ADNOC Gas Inks 10-Year LNG Supply Deal with India's GAIL
ADNOC Gas on Tuesday signed a 10-year agreement to supply 0.5 million metric tons per year of LNG to India's largest natural gas company GAIL.
QatarEnergy, Excelerate Energy Sign 15-Year LNG Supply Deal
QatarEnergy and U.S.-based Excelerate Energy signed on Monday a 15-year agreement to supply 1 million metric tons per year of LNG to be delivered to Bangladesh for 15 years from January 2026.
Dana Gas Resumes Operations at Iraqi Kurdistan’s Khor Mor Gas Field
United Arab Emirates energy firm Dana Gas on Friday has resumed the production operations at Iraqi Kurdistan's Khor Mor gas field have been resumed, the company said in a statement.
Germany's SEFE Eyes Global LNG Expansion After Securing $55 Billion Gas Deal in Norway
Fresh from clinching a $55 billion pipeline gas deal in Norway last month, Germany's SEFE is looking for more suppliers to offer liquefied natural gas (LNG) for its customers, its CEO told Reuters on Thursday.
Saudi's SABIC Gives Go-Ahead for $6.4 Billion Petrochemical Plant in China
Saudi Basic Industries Corp. (SABIC) will go ahead with building a petrochemical complex in southeastern China's Fujian province, the company said in an exchange filing on Sunday, shoring up Saudi ties with China, the world's top oil importer.
Global Pipeline Construction Outlook 2024: New LNG Terminals Sound Beckon Call for More Pipelines
(P&GJ) — It comes as little surprise to those in midstream that during the past year we have continued to see LNG initiatives garner more attention than pipeline projects. However, terminal construction drives new pipeline construction.
UAE's ADNOC Boosts Lower-Carbon Budget to $23 Billion
The state-owned Abu Dhabi National Oil Company said on Monday it would allocate $23 billion for decarbonization and lower-carbon projects, up from a previous $15 billion target.
Qatar Set to Sign Cheaper Long-Term LNG Deal with India
Qatar Energy within weeks could sign a long-term deal to provide LNG to Indian buyers on cheaper and more flexible terms than existing contracts, trade sources said, as India seeks to meet a goal to increase the fuel's use.
Tankers Carrying Qatari LNG Resume Course Amid Red Sea Tension
Four tankers used for shipments of Qatari liquefied natural gas (LNG) have resumed course after pausing for several days amid maritime attacks by Yemen's Iran-aligned Houthis in the Red Sea, LSEG ship-tracking data showed on Tuesday.
QatarEnergy Pauses Red Sea LNG Shipping Amid Attacks, Seeks Security Advice
QatarEnergy, the world's second largest exporter of LNG, has stopped sending tankers via the Red Sea although production continues, a senior source with direct knowledge of the matter told Reuters on Monday.
Bulgaria Replacing Russian Crude with Oil from Kazakhstan, Iraq, Tunisia
Bulgaria is replacing Russian oil imports with crude from Kazakhstan, Iraq and Tunisia in January, according to traders and LSEG data.
Iran Seizes Oil Tanker Involved in U.S.-Iran Dispute in Gulf of Oman
Iran seized a tanker with Iraqi crude destined for Turkey on Thursday in retaliation for the confiscation last year of the same vessel and its oil by the U.S., Iranian state media reported, a move likely to stoke regional tensions.
Saudi Arabia Commits to Diversified Energy Portfolio Beyond Oil Focus
Saudi Arabia is taking climate change issues seriously and has shifted its focus to all kinds of energy, not just oil. The country maintains that fossil fuel use can continue, provided it is coupled with measures to capture emissions.
Saudi Arabia Tries to Thread the Needle Between Crude Output, Prices
Saudi Aramco's decision to cut the price of its crude for Asian customers shows just how difficult it is for the world's largest oil exporter to walk the line between maintaining market share and restraining output enough to bolster prices.
Iran's Oil Trade with China Stalls as Tehran Demands Higher Prices
China's oil trade with Iran has stalled as Tehran withholds shipments and demands higher prices from its top client, tightening cheap supply for the world's biggest crude importer, refinery and trade sources said.
BlackRock to Invest Up to $400 Million in Dubai Decarbonization Firm Positive Zero
BlackRock has agreed to invest up to $400 million in Dubai-based decarbonization company Positive Zero through a diversified infrastructure fund, Positive Zero said in a statement on Monday.
India Boosts Saudi Oil Imports in December Amidst Decline in Russian Purchases
India increased imports of Saudi oil in December as payment problems drove its Russian oil buys to an 11-month low, with at least five cargoes of the sweet Sokol variant heading to other locations, data from vessel tracking agencies showed.
PetroChina Assumes Lead Role as ExxonMobil Completes West Qurna 1 Operations
U.S. energy giant ExxonMobil Corp. has formally exited the West Qurna 1 oilfield in southern Iraq and handed over its operations to PetroChina as lead contractor, a deputy oil minister told Reuters on Monday.
Global News January 2024
Latest industry developments from around the world!
Qatar to Supply Crude Oil to Shell in Five-Year Deal
Qatar has agreed to supply Shell in Singapore with up to 18 million barrels of oil a year for five years in what the Gulf state's energy company said was its first ever five-year crude sales deal.
Oil Prices Stabilize Amid Middle East Tensions and Anticipation of U.S. Rate Cut
Oil prices were little changed on Tuesday as investors focused on geopolitical tensions in the Middle East and optimism the U.S. Federal Reserve would soon start cutting interest rates, lifting global economic growth and fuel demand.
ADNOC Signs 15-Year LNG Supply Deal with Unit of China's ENN
Abu Dhabi's state oil giant ADNOC said on Wednesday it signed a 15-year agreement to deliver at least 1 million metric tons a year of LNG to a subsidiary of China's ENN Natural Gas.
Some LNG Vessels Avoid Passing Yemen as Red Sea Attacks Increase
Several liquefied natural gas (LNG) vessels have changed their courses in recent days to avoid the Red Sea region amid maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.
Looking Back at the Biggest Pipeline Stories of 2023
(P&GJ) – In this final issue of P&GJ for 2023, the staff – with more than a little help from our readers – takes a look back at the sometimes chaotic year in midstream that was 2023.
Aramco Expands Big Data Unit to Drive M&A Decisions and Profit Optimization
Saudi oil giant Aramco is boosting its big data and artificial intelligence unit that links up its assets to help maximize profit, assisting on decisions from trading to acquisitions, a senior executive told Reuters.
Record U.S. Oil Output Challenges Saudi Mastery
U.S. crude oil production set a record for the second month running in September, highlighting the challenge to Saudi Arabia and its OPEC+ partners as they cut their own production to boost prices.
Global News December 2023
Latest industry developments from around the world!
EU Keeps Eastern Mediterranean Gas Pipeline on New List of Priorities
The European Commission has maintained a proposed pipeline connecting the gas reserves in the Eastern Mediterranean to Greece via Cyprus and Crete on its new list of Projects of Common Interest (PCI) published on Tuesday.
UAE Set to Ramp Up Murban Crude Exports in Early 2024
The United Arab Emirates will ramp up exports of Abu Dhabi's flagship Murban crude early in 2024 as a new OPEC+ mandate kicks in and barrels are diverted to the international market owing to refinery maintenance, according to traders and Reuters data.
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
