Oman Denies Reports Of Gas Assets Sale

• Monday, 12th May 2025
• by Fatma Ahmed

Oman is not planning to sell interests in natural gas fields, noted a statement issued by the Omani Ministry of Energy.

The statement quoted Saleh Al Anboori, Director General of Exploration and Production of Oil & Gas, Omani Ministry of Energy and Minerals,  as denying the circulating rumours about Oman's mulling selling natural gas assets valued at $8 billion to boost the state finances and investments. The rumours are based on a Bloomberg report on Friday.

Aramco’s net profit fell by 4.6 % in Q1 2025

• Sunday, 11th May 2025
• by Fatma Ahmed

Saudi oil giant Aramco reported a 4.6 % decline in its net profits during the first quarter (Q1) of 2025 to reach $26 billion. The retreat in profits came on the back of increased capital expenditures, which increased by 15.9 % YOY $12.5 billion to support the company's plans for long-term strategic growth. The results also reflected the uncertainty covering the oil markets amid the US-China trade war and a decline in crude prices.

Harbour Energy Q1 2025 Production Surges By190%

• Thursday, 8th May 2025
• by Fatma Ahmed

Harbour Energy operational results showed a 190% increase in its production volumes, reaching 500,000 barrels of oil equivalent per day (boe/d) during the first quarter (Q1) of 2025. The production was split into 40% liquids, 40% European natural gas, and 20% non-European natural gas. The company, a major player in the oil and gas industry with a wide presence across the world, has added new wells in the UK, Argentina, Egypt and Germany, according to the company's website. Furthermore, it reported a 90% production efficiency.

ExxonMobil to Invest $1.5B in Nigerian Oilfield

• Thursday, 8th May 2025
• by Fatma Ahmed

Nigeria’s oil regulator stated that ExxonMobil will invest $1.5 billion in developing its deepwater operations in the country.

ADNOC Distribution Records 16% Profit Growth YoY during Q1 2025

• Thursday, 8th May 2025
• by Fatma Ahmed

ADNOC Distribution, one of Abu Dhabi National Oil Company (ADNOC) subsidiaries and the UAE’s largest fuel and convenience retailer, reported a growth in its net profit by 16%, to reach $174 million during Q1 2025, compared to $150 million during Q1 2024.

ADNOC Gas’ Net Income Grows 7% YoY in Q1 2025

• Wednesday, 7th May 2025
• by Fatma Ahmed

ADNOC Gas plc, one of the affiliated companies of the Abu Dhabi National Oil Company (ADNOC) and a world-class integrated gas processing and sales company, announced that it achieved increase in its net income by 7% Year on Year (YoY) after reaching $1.27 billion during Q1 2025 compared to $1.187 billion in Q1 2024.

EU to Unveil Strategy to End Russian Natural Gas Imports by Late 2027

• Tuesday, 6th May 2025
• by Fatma Ahmed

The European Union (EU) will release plans to prohibit new Russian natural gas agreements by the end of this year and gradually terminate current contracts with Moscow by the close of 2027.

ExxonMobil posts a 7% drop in profits, a cash flow of $13 billion in Q1 2025

• Monday, 5th May 2025
• by Fatma Ahmed

ExxonMobil Corporation announced its financial results for the Q1 2025 in which it achieved earnings amounts to $7.7 billion compared to $7.6 billion in Q4 2024 and $8.2 billion in Q1 2024.

TotalEnergies Celebrates Groundbreaking of Oman’s Marsa LNG Plant

• Monday, 5th May 2025
• by Fatma Ahmed

TotalEnergies, the world’s third-largest LNG player, and OQ Exploration and Production (OQOP), Oman’s national oil company, celebrated the groundbreaking of the Marsa LNG plant in the port of Sohar, in the northern part of the Sultanate.

Shell Explores BP Acquisition, reports strong Q1 results

• Sunday, 4th May 2025
• by Fatma Ahmed

Shell is studying the feasibility of acquiring the British oil giant, British Petroleum , according to Bloomberg.