Abu Dhabi National Oil Company (ADNOC) is exploring potential investments in Canada’s upstream and liquefied natural gas (LNG) sectors through its international investment arm, XRG, a senior executive revealed during the Global Energy Show in Calgary.
Europe’s largest airlines have urged the European Union (EU) not to expand its Emissions Trading System to include international flights, warning in a letter seen by Reuters that such a move would drive up ticket prices.
Eni and PETRONAS have officially established Searah, a new 50/50 independent joint venture (JV) combining selected upstream assets in Indonesia and Malaysia, following the completion of all regulatory approvals and closing conditions.
Abu Dhabi National Oil Company (ADNOC) has floated a second crude oil tender within a week, set to close on June 11, trade sources told Reuters.
Chinese refiners have delayed two major refining projects slated for 2026 deployment, freezing a combined capacity of 500,000 barrels per day (bbl/d) following Middle Eastern crude supply disruptions at the Strait of Hormuz driven by the conflict in Iran, according to Reuters.
OPEC+ approved a fourth consecutive hike in its oil output targets, even as the ongoing US conflict with Iran continues to block several member states from raising production, Reuters reported.
Algerian state-owned energy company SONATRACH has launched construction of the Algerian part of the Trans-Saharan Gas Pipeline (TSGP), advancing a long-standing project aimed at transporting Nigerian natural gas to European markets.
The broader project is designed to span about 4,128 kilometers (km) and transport up to 30 billion cubic meters (bcm) of natural gas annually once completed.
Iran has announced that it is moving forward with plans to coordinate with Oman on the administration of the Strait of Hormuz, one of the world’s most important oil transit routes.
Chinese battery manufacturer CATL expects energy storage solutions to account for 50% of its global sales by 2030, up from around 25% currently, according to Reuters.
Kevin Tang, CATL’s Director of Energy Storage Systems for Europe ,noted that the energy storage segment has expanded rapidly, rising from just 2% of the company’s battery sales five years ago.
Tang also highlighted concerns over rising raw material prices, including lithium, copper, and aluminum, which have increased following the US-Israel war on Iran. However, he said costs are expected to decline over the longer term as battery supply chains continue to mature.
Algeria’s SONATRACH Group and Niger’s state-owned petroleum company SONIDEP signed three Memoranda of Understanding (MoUs) to expand cooperation in seismic services, drilling operations, and petroleum product distribution in Niger.
