Oil and Gas
UAE’s Oil Giant ADNOC to Enter Global Chemicals Race
fter a year of discussions, Abu Dhabi’s oil firm ADNOC has reached an agreement to acquire Germany’s chemical giant Covestro in a...
European natural gas prices have increased due to a cold snap and ongoing supply challenges
Europe’s benchmark natural gas prices experienced an increase early on Monday, driven by ongoing supply risks stemming from the Middle East and...
BP To Sell Its Onshore Wind Business
BP Plc, the British oil and gas multinational, has revealed its intention to divest its onshore wind operations in the United States, citing a...
Shell Prepares to Close Gulf of Mexico Platforms in Anticipation of Tropical Disturbance
Shell is preparing to suspend oil and gas production at two of its platforms in the U.S. Gulf of Mexico, just days after resuming normal operations at...
The U.S. Energy Department Faces Financial Constraints in Replenishing the Strategic Petroleum Reserve at Reduced Prices
The price of U.S. WTI crude oil has stabilized in the low $70s per barrel for a considerable duration, enabling the Biden Administration to increase...
Increase in crude oil and product inventories is exerting pressure on the recovering prices
According to The American Petroleum Institute (API), crude oil inventories in the United States increased by 1.96 million barrels for the week ending...
Iran plans a 10% increase in its crude oil output
Iran plans to increase its crude oil output to 4 million barrels daily, the country’s Tasnim news agency reported. No specific sources for the plan...
Successful completion of MRT of the Binak gas compressor block
“Successful completion of the Mechanical Performance Test (MRT) of the reciprocating gas compressor block of the new Binak gas pressure boosting...
Oil production capacity maintenance and expansion plan contracts
Eight contracts worth $1.2 billion were signed between the National Iranian Oil Company and Iranian contracting companies for the oil production...