XRG PJSC has taken over ADNOC Distribution PJSC, ADNOC Gas PLC and ADNOC Logistics and Services PLC, ADNOC said in a recent statement. ADNOC Drilling Co PJSC’s transfer was awaiting regulatory approvals, ADNOC said.
“The rapid ramp-up to peak production at the Jotun FPSO, alongside strong performance across our portfolio, puts us on track to meet our production target of around 430,000 boed in the fourth quarter of this year”, chief executive Nick Walker said in the statement.
This flagship APPO platform will bring together CEOs and senior executives from 19 African oil-producing nations to engage in strategic dialogue on regional collaboration, innovation, and sustainability in Africa’s petroleum sector.
During the launch, organisers and policy makers emphasised the need to leverage energy in driving socio-economic development, highlighting the theme for the event “Repositioning the Energy Sector as a Pillar of National Development,”.
“The world will not consume one less barrel of oil simply because Canada chooses not to provide it. That barrel will come from somewhere else,” Suncor chief executive Rich Kruger said at the hearing. Imperial Oil’s CEO noted the presence of other “vehicles and requirements” put in place to curb emissions of carbon dioxide in the country.
President Trump reportedly called on the European Union to impose 100% tariffs on China and India if it wanted the United States to step up its own sanction pressure on Russia, as Brussels discusses its 19th package of sanctions against Moscow.
Energy Minister Terje Aasland commented, “Norway will remain a long-term supplier of oil and gas to Europe, while the Norwegian continental shelf will continue to create values and jobs for our country. To deliver on this commitment, we must make more discoveries – and to make more discoveries, we must explore”.
“The Group has been able to maintain liquidity to support its operations, reflecting suspension of debt service payments; commercial settlements and associated collections secured as part of the close out of legacy contracts; supportive supply chain and customer relationships, and careful cash flow management”, Petrofac said.
Montenegrin Energy and Mining Minister Admir Sahmanovic commented, “The planned feasibility study will provide us with concrete data on potential locations and the viability of liquefied natural gas development in Montenegro, thereby creating the basis for making strategic decisions in the interest of our country’s energy security and sustainable development”.
Greece, which currently produces only small volumes of oil, is working to expand domestic natural gas resources to reduce reliance on imports. While renewables have increased in recent years, gas remains critical to the country’s power generation mix. The exploration push also aligns with the European Union’s strategy to diversify supply and reduce dependence on Russian energy following the invasion of Ukraine.