A rocket attack struck a liquid storage tank at Iraq’s Khor Mor gas field, one of the largest in the Kurdistan region, forcing a halt in production and causing major power cuts across northern Iraq, joint field operator Dana Gas confirmed on Thursday, November 27, as reported by Reuters.
Russia is exploring opportunities to increase oil exports to China and deepen cooperation on liquefied natural gas (LNG), Deputy Prime Minister Alexander Novak said Tuesday during a Sino-Russian business forum in Beijing.
China and India have become Russia’s largest oil buyers since the start of the Ukraine conflict in 2022. China currently imports around 1.4 million barrels per day (b/d) of Russian oil by sea and about 900,000 b/d via pipeline. Despite recent U.S. sanctions targeting Rosneft and Lukoil—Russia’s two biggest oil producers—President Vladimir Putin has downplayed their impact, calling the measures unfriendly but insignificant for the Russian economy.
His Highness Sheikh Mohamed bin Zayed Al Nahyan, United Arab Emirates (UAE) President, chaired the annual meeting of the Abu Dhabi National Oil Company (ADNOC) Board of Directors at the Habshan complex. During the meeting, he approved the $150 billion CAPEX plan for 2026–2030.
The European Union (EU) would not oppose a proposed deal on the outcome of the COP30 climate talks in Brazil, Reuters reported, citing two anonymous sources on November 22.
"It's lacking in ambition; it's lacking in balance, but we won't oppose," an EU negotiator said. "It will provide much‑needed money for adaptation for the poorest and most vulnerable."
The European Union (EU), on Friday, November 21, rejected a draft agreement for the COP30 meetings. The bloc refused to back the draft, stating it fell short of advancing global efforts to cut greenhouse‑gas emissions and lacked a commitment to move away from fossil fuels.
Exxon Mobil CEO Darren Woods announced on Friday, November 21, that the company has paused plans to build what would have been one of the world's largest hydrogen production facilities in Baytown, Texas, citing weak customer demand.
The Abu Dhabi National Oil Company (ADNOC), through its international investment company XRG P.J.S.C., announced on November 21 the receipt of the final outstanding regulatory approval needed for its €14.7 billion acquisition of German chemicals producer Covestro. The final clearance, granted by the German Federal Ministry for Economic Affairs and Energy, means all closing conditions are now satisfied, and the transaction is expected to be finalized within days.
Wood, a UK-based consulting and engineering company, has secured a new contract to manage Engineering, Procurement, and Construction (EPC) services for PetroChina at the West Qurna 1 oilfield in southern Iraq.
Oil giant Saudi Aramco has made over $30 billion in 17 Memoranda of Understanding (MoUs) and agreements with major companies in the US during a visit to Washington by the Saudi Crown Prince Mohammed bin Salman. The deals span LNG, financial services, advanced materials manufacturing, and procurement partnerships.
U.S. oil giant Exxon Mobil is evaluating potential acquisitions of overseas assets owned by sanctioned Russian producer Lukoil, sources familiar with the talks, reported. The move places Exxon alongside rival Chevron, which is also reviewing opportunities to buy portions of Lukoil’s portfolio.
TotalEnergies will appeal a decision by the French Competition Authority that imposes a fine on the company for alleged anti-competitive practices in the supply of petroleum products in Corsica. The Authority's ruling follows a four-year investigation. However, TotalEnergies maintains that the decision is not supported by evidence of any negative competitive impact on the island.
