Oil/Gas

Abu Dhabi / WAM  The 2022 Opec World Oil Outlook (WOO) will be launched at the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) 2022 in Abu Dhabi on Monday, October 31. Opec’s Secretary General, Haitham Al Ghais, along with Opec experts, will present the major findings of the WOO 2022, as well as introduce a video with key messages ...

Nigeria plans to auction deep offshore oil and gas licenses for the first time in 15 years, according to a senior government official. The West African country will launch a bidding round for seven deep-water blocks in November, the chief executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, said by phone. The government issued dozens of such permits ...

Abu Dhabi / WAM  Borouge Plc on Friday announced its financial results for the nine-month and three-month periods ended September 30, with the company maintaining positive year-to-date performance driven by strong sales volumes. Borouge reported a 13.5% increase in revenue to AED18.84 billion ($5.13 billion) for the nine months to September 30, versus the same period in the prior year. ...

ArcelorMittal and BHP Group will test a full-scale carbon capture operation in Belgium, in the latest sign of major steelmakers and miners working together to curb emissions. Steelmaking is one of the most polluting industries, approaching a 10th of all greenhouse gas emissions. That’s put it in the firing line of investors and environmentalists who want to see credible plans ...

The French government will spend 12 billion euros ($12 billion) to help small and mid-sized companies that are struggling to pay soaring energy bills. Prime Minister Elisabeth Borne said that the government will rely on three new mechanisms to help businesses, local authorities and associations, and to simplify access to aid. About 7 billion euros of the total cost will ...

European ministers pulled off what one diplomat called a miracle in July when they took just six days to agree to slash gas demand. Ever since, the bloc’s timelines have been slipping, and it now looks unlikely key new measures will be in place for winter. Ministers set another new deadline, and now aim to clinch a deal on the ...

Europe’s near-term natural gas supply glut means more fuel for Asia this winter. Liquefied natural gas (LNG) suppliers are already looking to redirect shipments to Asia for delivery from November onward due to more attractive prices. Asia LNG spot prices jumped above the European gas benchmark for the first time since June earlier this week. This is a reversal: For much ...

Germany is preparing for a worst-case scenario in which it needs to double financial aid to Uniper SE, the nation’s biggest gas supplier, to $60.14 billion. Uniper’s financial situation is worsening with an expected adjusted net loss of $3.2 billion for the first nine months of the year as it buys more expensive wholesale gas to meet supply contracts after ...

Halliburton Co. surpassed profit expectations amid a tight market for oilfield supplies as the world’s biggest provider of frack services gears up for increasing activity around the world. The company reported adjusted per-share profit of 60 cents in the three months through September, higher than the average estimate from analysts in a Bloomberg survey, and more than double the figure ...

Oil rises as the dollar tumbled, energising markets while investors continue to evaluate the potential for slowing commodities demand against near-term supply tightness. West Texas Intermediate traded near $86, temporarily finding direction from equity markets, which have been recently boosted by earnings reports. The dollar slid, providing an extra boost for commodities that are priced in the currency. Since late ...