Aramco, a world leader in integrated energy, announced the successful completion of a $5 billion bonds issuance.
The issuance was carried out in three tranches at the London Stock Exchange, under its Global Medium Term Note Program.
Sinopec, China’s state-owned oil and gas giant, has launched a hydrogen energy-focused venture capital fund with an initial investment of $690 million.
ExxonMobil announced that it has entered exclusive negotiations with the French unit of Canadian energy group North Atlantic to sell the 82.89 % stake Exxon owns in the French subsidiary Esso, according to Reuters.
Eni, the Italian oil giant, has signed an exclusivity agreement with Global Infrastructure Partners (GIP), a leading global infrastructure investor. According to the agreement, Eni will be negotiating only with GIP-excluding all other competitors, on the sale of the 49.9 per cent Eni holds in Eni CCUS Holding – a leading European player in the CCUS sector (Carbon Capture, Utilization and Storage).
The governments of Saudi Arabia and Kuwait have announced a new oil discovery by Wafra Joint Operations (WJO) in the North Wafra Wara-Burgan field, situated five kilometers north of the Wafra field, according to Saudi Press Agency (SPA).
French integrated energy company TotalEnergies announced on Sunday first oil production from the fourth development phase of the Mero-4 field on the Libra block in the pre-salt are of the Santos Basin, Brazil. This start up brings total production rates to a capacity of 770,000 barrels per day (bbl/d) through five Floating Production, Storage, and Offloading (FPSO) units. Once reaching full capacity, TotalEnergies will attain around 100,000 barrels of oil equivalent per day (boe/d).
Iraq has signed a contract with a consortium consisting of China-based Geo-Jade Petroleum Corporation and Basra Crescent to implement an integrated energy project, Reuters reported.
Aramco, one of the world’s leading integrated energy and chemicals companies, launched the first megawatt (MW)-scale renewable energy storage system using Iron-Vanadium (Fe/V) flow battery to store solar power for natural gas well operations. The company said that this solution is expected to be efficient and cost effective. It is designed to cope with the high temperature in Saudi Arabia and has the ability to achieve optimal performance under extreme weather conditions,
The Global energy technology company SLb has launched Retina™ at-bit imaging, which enables identification of rocks formation characteristics to optimize drilling efficiency, formation evaluation, and safety. This solution is the first-of-its-kind and provides accurate measurements, especially at the critical point of first contact between the drill bit and the formation.
Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy, stated that its LNG project in the USA is set to start production by the end of 2025. He added that its North Field East Expansion Project in Qatar is set to start production by mid-2026.
