The China Petroleum and Chemical Corporation ("Sinopec"), one of the top integrated energy and chemicals businesses in the world, the Saudi Arabian Oil Company ("Aramco"), and SABIC are investigating ways to work together on petrochemical and refining projects in China and Saudi Arabia.
Eni Chief Executive Officer Claudio Descalzi and Snam Chief Executive Officer Stefano Venier inked an equal joint venture (JV) agreement to develop and manage Phase 1 of the Ravenna Carbon Capture and Storage (CCS) Project. The agreement also includes the implementation of studies and preparatory activities for the subsequent development phases.
Carbon neutrality is not a hindrance, it’s a necessity. Oil and gas companies passed just simply installing solar panels on roofs or carpooling to work – we are beyond that point now. It is essential to combine a series of solutions to achieve carbon neutrality by canceling out carbon emissions released by such a carbon-intensive industry. This is one of the main themes tackled and discussed during the recent United Nations (UN) Climate Summit that took place in Sharm El Sheikh earlier last month (COP27).
They say two opposites attract, but when talking about green economy and petroleum it goes beyond just that. These are two economic forces that complement each other. When studying the growth of the green economy, one would naturally assume petroleum and the green economy would have an inverse relationship, but many petroleum companies are working to debunk this common misconception. As discussions about climate change continue, many of the oil and gas industry’s biggest names are hard at work in adopting economic strategies to expand and diversify the green economy for the purpose of sustaining economic growth while addressing pressing concerns about climate change, global warming, and the surge of harmful greenhouse gas (GHG) emissions.
NEW INNOVATIVE AND FLEXIBLE ECONOMIC LEGISLATION MAY BE THE WAY OUT OF THE CURRENT ECONOMIC IMPASSE
The current political and economic situations worldwide may be the most difficult through the last two decades. Hence, there is a dire need for creating a new suitable way forward for going out of that impasse. As a roadmap that we can use to navigate ourselves out of this crisis, then we can work for going far from such as economic falls, new flexible laws and immediate decisions supported will have a great effect on controlling inflation rate and the depreciation of the currency’s value. With a huge increase in all goods’ prices, there is a for corrective actions and procedures for getting new resources for national income and attracting new investments.
The Saudi Arabian Oil Company (“Aramco”) and TotalEnergies have made the final investment decision (FID) for the construction of a world scale petrochemical facility in Saudi Arabia.
Minister of Petroleum and Mineral Resources Tarek El Molla highlighted the importance of requests for briefing and inquiries submitted by parliamentarians about the course of petroleum work in light of its supportive performance for the national economy and the local market.
Aton Resources has announced the completion of the Phase 2 diamond drilling programme at its advanced Rodruin gold exploration project, located in the Abu Marawat Concession in the Eastern Desert of Egypt.
