Skip to main content
 

The latest energy news



 
 

LNG regas capacity to grow

GlobalData reports that global LNG regasification capacity is set to grow by 39.6% between 2018 and 2022.


 

Evonik opens R&D centre in Singapore

Evonik has opened a research hub in Singapore for resource efficiency topics such as functional surfaces and additive manufacturing.

 

Oil Plus secures contracts worth over US$1.5 million

Oil Plus Ltd, a specialist global oil and gas consultancy has secured contracts worth more than US$1.5 million over the past three months and has significantly expanded its footprint in the Middle East.

 

Cyberhawk wins major contract

Cyberhawk will provide a digital asset management solution during the construction of a new petrochemical complex in the US.

 
 
 

NOVATEK delivers the first batch of LNG to India

PJSC NOVATEK reports that the subsidiary of Novatek Gas & Power Asia Pte. Ltd. The first lot of liquefied natural gas (LNG) produced on the Yamal LNG project was delivered to the Indian market.

 
 
 
 
 
 

Saudi Aramco in negotiations over stake in Indian refinery

The Indian newspaper The Economic Times is reporting that the state-owned Saudi oil giant is aiming to purchase a majority stake in a proposed refinery and petrochemical complex in the western Indian state of Maharashtra.

 
 
 
 

 

Upcoming ENERGY events

 
 

 

ADNOC trading to support downstream growth

The Abu Dhabi National Oil Co. (ADNOC) is establishing a new trading unit within its Marketing, Sales and Trading Directorate. The unit will introduce and manage non-speculative trading to further maximise value from every barrel of crude oil and refined product that is produced and marketed by the company.

As the company accelerates the delivery of its 2030 strategy, the trading unit will capitalise on the size and scale of the company’s crude oil and refined products portfolio, the flexibility within ADNOC’s refining system, and will leverage synergies and integration opportunities across its downstream value chain.

H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said: “As ADNOC grows and expands its upstream and downstream businesses, we will produce more products, and in turn, our Marketing, Sales and Trading function will play an even more critical role. Engaging in non-speculative trading will allow us to maximise value from our domestic and, over time, international downstream operations.

“By utilising the flexibility in our downstream production facilities, accessing market opportunities and optimising our supply chain, particularly to key growth markets, we aim to capture more value further along the value chain. Proactively managing our crude oil and refined product flows across key geographies, combined with the optionality provided by our first-class assets and geographic location, will allow us to constantly optimise our operations, capture market opportunities, and secure the highest value.”

ADNOC will set out the roadmap for its downstream growth strategy when it hosts its Downstream Investment Forum, at which it will also provide details of co-investment opportunities across its downstream value chain for new and existing partners.

“Looking out over the next two decades, we anticipate the sharpest growth within the energy sector will be petrochemicals, with demand forecast to climb 150% by 2040,” H.E. Dr Al Jaber said. “To capitalise on this opportunity and make ADNOC more resilient against possible price volatility, our goal is to become a major global downstream player, creating a strong pull for our products, combined with the flexibility to respond quickly to shifting market needs.”

Energy news Oil and gas news Oil and gas news today Energy magazine Energy journal