ADNOC announces to use its right as a Selling Shareholder to increase the number of ordinary shares offered in the initial public offering “IPO” of ADNOC Logistics & Services to 1,405,714,765 ordinary shares, which equates to 19% of the Company’s total issued share capital.
Jordan announced that its Iraqi crude oil imports have resumed with 80,000 barrels being transported so far, Reuters reported.
Underinvestment in the oil and gas sector could cause long-term market volatility, stated Haitham Al Ghais, OPEC Secretary General, in a report from Reuters.
Baker Hughes announced that U.S. energy firms has reduces 11 oil rigs this week, which is the biggest oil rigs reduction since September 2021. The oil and gas rig count, which is treated as an early indicator of future output l, fell by 11 to 720 in the week and the most of the reductions were in Texas where the total count dropped by nine to 355 this week.
Amid hopes of an end to Nigeria’s repeated fuel shortages, Dangote Petroleum Refinery will be commissioned. But the country’s main obstacle for achieving full production is the lack of crude supply.
STEP Polymers SPA, a 100% Sonatrach subsidiary, has selected the Petrofac and Huanqiu Contracting & Engineering Corporation (HQC) joint venture (JV) to execute a significant petrochemical project in Algeria.
Eni, Acea, Autostrade per l'Italia, Bridgestone, Cisco, Gruppo FS and NextChem (MAIRE) has launched “ROAD -Rome Advanced District” project, which is a network of companies, to develop the first technological innovation district dedicated to developing new energy supply chains, applied industrial research collaborations and academic research.
Iraq expects TotalEnergies to start operations in a long-delayed oil, gas, and renewable energy project, at 27 billion USD, in the second half of 2023, Sky News Arabia reported.
QatarEnergy awarded a $10‐billion engineering, procurement, and construction (EPC) contract for the North Field South (NFS) project, which comprises two LNG mega trains with a capacity of 8 tons per annum (MTPA) each.
Venezuelan state-owned oil and natural gas company PDVSA's new management anticipates to increase the country’s output to 1.17 million barrels per day.
