The good times are set to get even better this year for public upstream operators, thanks to a perfect storm of factors pushing profits and cash flow to another record high in 2022, a Rystad Energy expert said
Oil and gas industry
Abu Dhabi
Abu Dhabi’s National Marine Dredging Company permits foreigners to own up to 49 percent of the firm’s capital
The decision will result in increased trading on the National Marine Dredging Company’s shares, increased liquidity, and international flows for the stock, raising its value in global trading indices such as the FTSE Russell and the MSCI
Abu Dhabi
Abu Dhabi’s ADNOC acquires 25 percent stake in Borealis from Mubadala
Borealis will be 25 percent owned by ADNOC and 75 percent owned by OMV, an Austrian multi-national integrated oil, gas, and petrochemical company listed on the Vienna Stock Exchange
Atlantic Council Global Energy Forum
Why greater investments in oil and gas are needed to protect the economy from the impact of energy disruption
‘Annual investment in oil and gas is $200bn below where it needs to be, and that is just to keep up with demand through 2030,’ said UAE Minister of Industry and Tech
Atlantic Council Global Energy Forum
Energy transition without energy security will not succeed: expert
Energy shocks, geopolitical conflict, and inflationary forces have underscored the need for greater resilience in energy systems as well as smart carbon transition policies, Majid Jafar, the CEO of Crescent Petroleum, said
awards ceremony
Middle East Energy Awards 2022 names winners in gala dinner ceremony
The awards celebrated the very best across the energy industry
crude production
Saudi Energy Minister Prince Abdulaziz calls for unity in OPEC+ to support oil market stability
OPEC and its allies have so far been sticking to their plan to gradually roll back output cuts, adding 400,000 barrels a day each month until September 2022
energy business
ExxonMobil reports biggest net profit in seven years as oil price surges
The oil giant generated $48 billion of cash flow from operating activities, the highest level since 2012
crude oil price
Oil prices climb to near seven year high as supply worries trump Omicron fears
Oil demand for the year is expected to average around 100 million barrels per day
Gas production
Gas crunch pushes anxious buyers to pay more for contracts
2021 saw the return of contracting activity to its highest levels over the last five years, says expert
Energy industry
QatarEnergy awards huge contract for North Field Expansion Project to McDermott Middle East
North Field Expansion Project will increase Qatar’s liquefied natural gas production capacity significantly
Employees
Almost half of Middle East oil and gas workers are considering leaving the energy industry: Report
Low salary ranked as the number one reason why workers in the region said they want to leave
ADIPEC
Cloud integration, innovation crucial tool for oil and gas industry throughout energy transition: Experts
The only way to reduce emissions is with effective measurements, according to experts
AI in energy sector
Solving the oil & gas emissions challenge in the GCC with artificial intelligence
Transitioning to low-carbon energy alternatives alone will not be enough for ensuring required reductions, and permanently addressing the issue requires integration with an influential technology like no other: artificial intelligence
abu dhabi energy conference
Egypt, UAE climate summits could bring world to ‘safe shores in the coming few years’: Egypt Minister of Petroleum
Plans for a global energy transition need to be “responsible and responsive,” the minister added
abu dhabi energy conference
Energy transition ‘doesn’t happen overnight,’ realistic plan needs to be in place: BP CEO at ADIPEC 2021
“No light switch” for hydrocarbons, Looney said.
ADIPEC
OPEC+ has delivered more sustainability, stability, predictability than any other group ‘anywhere on planet earth’: Saudi Energy Minister
Prince Abdulaziz was speaking during the ADIPEC 2021 opening ceremony in a panel focused on shedding light on the role that the energy industry can play in addressing climate, environment and sustainability changes