ArcelorMittal to Acquire 28.4% Stake in Vallourec for $1B
Steelmaker ArcelorMittal has announced its plans to purchase a 28.4% stake in Vallourec for approximately $1 billion, aimed at increasing ArcelorMittal's presence in the tubular business.
News / International
US Department of Energy Grants $750M for Clean Hydrogen Projects Across 24 States
The US Department of Energy has announced that it is granting $750 million to projects in 24 states that are focused on building capacity for the production and use of clean hydrogen.
Iran Produces Over 3.2 mmbbl/d of Oil in February
Iran's oil production has reached above 3.2 million barrels per day (mmbbl/d) in February 2024, according to the latest report from the US Energy Information Administration (EIA).
ADNOC To Proceed Early for Low Carbon LNG JV Project in Al Ruwais Industrial City
ADNOC has issued a Limited Notice to Proceed (LNTP) for early engineering, procurement, and construction (EPC) activities to a joint venture for the low carbon liquefied natural gas (LNG) project in Al Ruwais Industrial City, Abu Dhabi.
Eni Announces Completion of Some Upstream Sale Assets in Congo
Eni has completed the sale of its participation interest in several upstream permits to Perenco in Congo. The transaction, approved via relevant authorities, is consistent with Eni’s strategy to focus its upstream activities on major developments, according to the company's statement.
China’s Unipec Buys 8mmbbl of North Sea Crude for Delivery in May
Unipec, the trading arm of Asia's largest refiner Sinopec, has purchased 8 million barrels of North Sea crude Johan Svedrup for delivery in May, amid high demand in Europe.
Sinopec Commences Production at China’s West Sichuan Gas Field Project
Sinopec has announced the start of natural gas production at a new field in Southern China’s Sichuan province. The West Sichuan Gas Field project marks Sinopec's third gas field with more than 100 billion cubic meters (bcm) in reserves.
Iran to Invest $20B in Natural Gas Project
Iran has announced that it has awarded contract to local companies to increase the pressure in the South Pars/North Dome Gas-Condensate field with costs of $20 billion, according to IRNA agency.
TotalEnergies Resumes Works in Donges Oil Refinery
French oil giant TotalEnergies has resumed its work in several units at its Donges refinery on the Atlantic coast of France. This comes after the refinery, which holds capacity of 230,000 barrels per day, underwent a full shutdown on the first of March for maintenance works, including repairing a leak, according to data from industry monitor IIR.
Iran’s Oil Production Surges by 50,000 bbl/d
Iran has increased its oil production to 50,000 barrels per day (bbl/d) driven by the exploitation of two new oil fields, Sepher and Jofeir.
