Abu Dhabi National Oil Co., the UAE’s state oil company, said it would change how it prices its crude oil grades, months after wild swings in the benchmark it has been using to underpin its sales.
ADNOC has approved a $6.2 billion (AED22.6 billion) final investment decision (FID) for the Umm Shaif Gas Cap development offshore Abu Dhabi, advancing a major natural gas project expected to deliver more than 600 MMscfd of natural gas and associated gas liquids by 2030. The project, located within the Umm Shaif and Nasr offshore concession, will be developed by ADNOC Offshore, […]
The UAE’s biggest oil company is proposing a new pricing methodology for the sale of crude supplies to term customers, said people with direct knowledge of the matter, opting for an approach that’s more aligned with wider regional trading norms. Abu Dhabi National Oil Co.’s crude-marketing team has spoken with refiners and traders about the […]
Most oil producers in the Middle East will see their crude oil production surge by double-digit percentages next year, rebounding from this year’s shut-ins due to the Iran war and the closed Strait of Hormuz.
ADNOC has deployed an autonomous heavy-duty inspection robot at its Taweelah Gas Compression Plant in the UAE as part of a broader push to expand artificial intelligence, robotics and automated safety systems across operations. Developed by Taurob, the robot is designed to conduct inspections in hazardous industrial environments while reducing personnel exposure to operational risks. According […]
Nigeria should market its crude oil to new buyers as the UAE’s decision to leave OPEC is dislocating the balance that the cartel and the OPEC+ group have been seeking for years, according to Wole Ogunsanya, chairman of the Petroleum Technology Association of Nigeria (PETAN). The official urged Nigeria’s state oil and gas firm NNPC […]
After quitting OPEC and OPEC+, the United Arab Emirates (UAE) is set to grow its oil production faster when the current Hormuz crisis is over, according to analysts at Barclays
The UAE’s ADNOC plans to invest billions of dollars in building a presence in the U.S. natural gas industry, the Financial Times reported today, citing the chief executive of ADNOC’s international investment division, XRG.
The United Arab Emirates is ramping up crude exports from Fujairah as operators restore loading capacity following Iranian drone strikes, using the port as a key outlet to bypass the Strait of Hormuz.
Japan’s trade minister Ryosei Akazawa has asked the United Arab Emirates and Saudi Arabia to cooperate in ensuring stable crude oil supplies and stabilizing the global crude oil market in order to enhance energy security, Jiji Press reports.