Chevron, Algeria Discuss Energy Exploration Deals Amid Russian Sanctions
Chevron Corporation is in talks with Algeria to allow the U.S oil gaint to carry out exploration in the North African country.
News / International
ADNOC Closes Deals Worth AED 17B with 23 Companies for Manufacturing Opportunities
ADNOC has inked contracts with 23 UAE and international companies for local manufacturing opportunities across a wide range of critical industrial products worth AED17 billion ($4.63 billion).
G7-Led Coalition Sets Price Cap on Russian Oil Products
The Group of Seven wealthy nations (G7), the European Union and Australia have set price caps for Russian diesel and other refined petroleum products in order to maintain market supply while reducing Moscow's income when an EU embargo takes effect, Reuters reported.
ExxonMobil Sets Historic Record for Western Oil Industry in 2022
Exxon Mobil Corp, which earned roughly $6.3 million per hour in 2018, reported a $56 billion net profit for 2022, breaking both a company record and achieving a historic high for the Western oil industry, Reuters reported.
Aramco Signs Agreements Worth $7.2B at 7th Iktva Forum
At the 7th In-Kingdom Total Value Add (iktva) Forum and Exhibition, Aramco inked more than 100 agreements and memorandums of understanding (MoUs) worth over $7.2 billion to support the development of a varied, sustainable, and globally competitive industrial environment. In 2022, the programme included 63% local content, up from 35% in 2015 when iktva was first introduced.
ExxonMobil to Build Largest Renewable Diesel Facility in Canada
ExxonMobil announced its majority-owned affiliate, Imperial Oil Ltd, will contribute an investment of $560 million to construct the largest renewable diesel facility in Canada.
OPEC President Attends Launch of 2022 GECF Global Gas Outlook 2050
OPEC President and Equatorial Guinean Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima, in his capacity as President of the Council of Ministers of the GECF 2023, has participated in the launch of the 2022 GECF Global Gas Outlook 2050 in Doha, Qatar, together with the Secretary General of the GECF Mohamed Hamel and with the virtual participation of member states, associates and special guests.
TotalEnergies EP Canada Acquires Additional Interest in Fort Hills
TotalEnergies EP Canada Ltd. announces that it has used its preemption right to acquire an additional 6.65% interest in the Fort Hills Energy Limited Partnership from Teck Resources Limited, as well as related sales and logistics agreements, for a price of 312 million Canadian dollars. This is in connection with its upcoming spin-off
Eni, Simply Blue Group Join Forces to Develop Floating Offshore Wind Projects in Italy
Plenitude, Benefit Corporation (Società Benefit) company of Eni, and Simply Blue Group, an Irish blue economy project developer, have reached an agreement for the combined development of a pipeline for new floating offshore wind projects in Italy.
India’s HPCL to Expand Capacity of Vizag Refinery
The state-run Hindustan Petroleum Corporation (HPCL.NS) hopes to start its Vizag refinery in southern India at an additional capacity of 15 million tonnes per annum (mtpa) by the end of June, according to its chairman Pushp Joshi, Reuters reported.
