Oil & Gas Adnoc on shortlist to buy Shell South Africa fuel stations Abu Dhabi National Oil Company (Adnoc) has been shortlisted to acquire Shell’s fuel stations and other downstream assets in South Africa for as much as $1 billion. Shell’s portfolio in South Africa includes about 600 fuel stations and local trading operations, Bloomberg reported, without identifying its sources. Shell has appointed Rothschild to run the sale […] April 18, 2025
Analysis Oil & Gas Seaborne oil exports from Iran to China hit record levels Chinese imports of oil by sea rose in March to their highest in 17 months, with imports from Iran hitting a record, according to tanker tracking consultancy Vortexa. Seaborne crude arrivals – which account for about 85 percent of total Chinese oil imports – rose to 10.6 million barrels per day in March, up from […] April 18, 2025
Oil & Gas IEA slashes oil demand outlook as trade tensions bite The International Energy Agency (IEA) slashed its 2025 oil demand growth forecast on Tuesday, citing rising trade tensions and a weakening global economy. The forecast widens the gap with Opec’s more upbeat outlook. The Paris-based watchdog now expects demand to grow by just 730,000 barrels per day in 2025, down from 1 million bpd previously […] April 15, 2025
Analysis Logistics Fujairah’s grand plan could fall victim to tariff shock The emirate of Fujairah’s plans to expand its storage facilities and develop cleaner fuels and petrochemical production may be delayed as a result of the impact of tariff-led global trade tensions, according to a local authority. After Singapore and Rotterdam, Fujairah is the largest so-called “bunkering”, or ship-fuelling, port. It lies almost immediately outside the […] April 15, 2025
Oil & Gas Opec cuts 2025 oil demand forecast on tariff trade tensions Opec on Monday lowered its 2025 forecast for global oil demand growth, warning that rising trade tensions and weaker economic activity are likely to weigh on consumption. Opec, the oil exporters’ group of which Saudi Arabia is the largest producer, expects demand to grow by 1.3 million barrels per day (bpd) this year, down from […] April 14, 2025
Economy Visiting US energy minister expects more UAE investment The US administration expects “growing” investment from the UAE in the US energy sector, its energy secretary Chris Wright said during a visit to Abu Dhabi this week. On his first overseas trip since taking office, Wright met senior officials from the UAE – the Middle East’s third-largest oil producer – including Abu Dhabi National […] April 11, 2025
Oil & Gas Oil demand growth to halve in wake of Trump tariffs Global growth in demand for oil this year may be as much as 40 percent less than forecast before last week’s announcement by Donald Trump of a near tripling in effective tariff rates on US imports to their highest in a century, S&P and other oil analysts have said. On average, demand for oil was […] April 9, 2025
Petrochemicals Borouge hikes dividend despite economic turmoil Emirati petrochemicals company Borouge will launch a share buyback programme and increase its dividend payout as it pushes ahead with global expansion, despite mounting trade tensions and sluggish demand. Shareholders at the company’s annual general meeting on Monday approved a final dividend of $650 million for 2024, bringing the full-year total to $1.3 billion, or […] April 8, 2025
Oil & Gas Oil prices plummet as trade war raises fears of recession Oil prices continued to drop on Monday as fears of a global trade war intensified and major producers issued bearish signals. Saudi Arabia cut its crude prices to Asia and Opec+ advanced plans to increase output. Brent crude futures fell $2.28, or 3.5 percent, to $63.30 a barrel on Monday. US West Texas Intermediate (WTI) […] April 7, 2025
Oil & Gas UAE loses out as India opts for cheaper Russian naphtha The UAE, led by Abu Dhabi, has lost its position as India’s biggest supplier of the refined crude oil product naphtha as discounted Russian cargoes flood the market. Naphtha has many uses including as a precursor to gasoline and other liquid fuels, and as solvents or diluents for paints and the rubber industry. India is […] March 24, 2025
Energy Aramco launches its first carbon capture facility Saudi Aramco has launched its first facility to remove carbon dioxide (CO2) from the air in a joint venture with Siemens. This is the company’s first direct air capture (DAC) facility as it seeks to curb CO2 emissions. The facility, a pilot project developed with Siemens Energy, is designed to remove 12 tonnes of CO2 […] March 21, 2025
Analysis Renewable Energy Shortage of ‘bankable’ green energy projects stymies investment While the Middle East has seen a surge in sustainable finance initiatives, investors are struggling to find commercially viable energy projects to invest in. This is particularly the case in developing nations, according to industry experts. The financial sector in the UAE has pledged to “mobilise” AED1 trillion ($272 billion) in sustainable finance by 2030. […] March 21, 2025
Petrochemicals Gulf oil companies turn up petrochemicals investment Gulf national oil companies (NOCs) are increasingly focusing their investment attention on petrochemicals as they seek to move up the value chain and as global demand growth for crude slows, experts say. The Paris-based International Energy Agency (IEA) expects the petrochemical industry to account for one third of global oil demand growth by 2030 and […] March 18, 2025
Oil & Gas Qatar to supply Syria with natural gas to ease power crisis Qatar has signed an agreement to supply natural gas to Syria via Jordan, a significant step towards addressing the war-torn nation’s energy crisis. The agreement, signed between Qatar Fund for Development (QFFD) and Jordan’s energy ministry, in collaboration with the United Nations Development Programme, will contribute to generating up to 400 megawatts of electricity daily […] March 14, 2025
Oil & Gas IEA’s hard line on oil glut clashes with Opec forecast The International Energy Agency (IEA) has said US tariffs will contribute to a decline in global oil demand growth this year, once again contrasting with Opec’s more optimistic forecast. In a monthly report published on Thursday the IEA forecast that oil demand would grow by 1 million barrels per day (bpd) in 2025, down 70,000 […] March 13, 2025
Artificial Intelligence Adnoc signs $340m AI contract with Abu Dhabi’s AIQ Adnoc, the Abu Dhabi National Oil Company, has awarded a $340 million contract to AIQ, a joint venture with Presight, a data analytics company based in Abu Ahabi, to introduce autonomous artificial intelligence, or agentic AI, across its upstream operations. The three-year agreement involves deploying EnergyAI, software that uses agentic AI to analyse large amounts […] March 11, 2025
Oil & Gas Iraq ramps up LNG import projects after US ends Iran waiver Iraq is ramping up development of an offshore liquefied natural gas terminal and a 40km pipeline, as Baghdad seeks to import more gas following a US decision to end the country’s exemption on purchases from Iran, according to local media. Ali Shaddad, a member of the parliament’s oil and gas committee, said work on the […] March 10, 2025
Renewable Energy Acwa Power bolsters renewables presence in China Saudi Arabian energy company Acwa Power has opened a renewable-energy innovation centre in Pudong New Area in Shanghai. The move is part of the company’s aim to expand its renewables presence in China, according to a statement. The new facility will focus on five areas: photovoltaics, wind, energy storage, green hydrogen and seawater desalination, Acwa […] March 10, 2025
Analysis Oil & Gas Aramco focuses spending on gas and Jafurah fields Saudi Aramco, the world’s largest oil company by value, has said it is focusing its spending on developing natural gas over oil reserves because of higher returns. The Saudi kingdom, the world’s second-largest oil producer after the US, is developing its gas reserves to supply its petrochemical and fertiliser industries and to power its electricity-generating […] March 7, 2025
Energy Aramco slashes blue ammonia output to reduce costs Saudi Aramco has scaled down its low carbon ammonia production target by 80 percent because of high costs and low demand. The company has adjusted its production objective from 11 million tonnes per annum (mpta) by 2030 to 2.5 mpta, it has said. The new target is still subject to the availability of commercially viable […] March 6, 2025
Analysis Oil & Gas US energy push bodes well for GCC’s LNG interests Since his return to the Oval Office, Donald Trump has moved aggressively to unleash a new era for the American energy sector. Last month, he established a National Energy Dominance Council, tasked with expediting projects by cutting red tape and promoting private-sector investment. He has also lifted a moratorium on liquefied natural gas (LNG) export […] March 5, 2025
Analysis Oil & Gas Saudi deficit to rise after $40bn loss in Aramco oil dividends A projected 30 percent drop in Saudi Aramco’s oil dividends in 2025 is likely to force the government and state-owned Saudi Public Investment Fund to step up borrowing to fund infrastructure and other projects under the kingdom’s Vision 2030 economic and social strategy, analysts say. The world’s largest oil company intends to cut dividends to […] March 4, 2025
