(Oil Price)– Santos has granted exclusive due diligence access for six weeks to the consortium led by Abu Dhabi’s ADNOC that has made an $18.7 billion non-binding takeover bid for the Australian energy giant. Santos, which earlier this month received – and plans to accept – the offer, has now entered into a process and exclusivity deed with XRG, a subsidiary of
(World Oil) – Occidental and its subsidiary 1PointFive today announced an agreement with XRG, ADNOC’s investment company, to evaluate a potential joint venture to develop a Direct Air Capture (DAC) facility in South Texas. As part of the joint venture, XRG will consider investing up to $500 million for the development of a DAC facility designed to capture 500,000 tonnes
(Oil & Gas 360) – HOUSTON, May 16, 2025 /PRNewswire/ — EOG Resources, Inc. (EOG) today announced that the company was awarded a new oil exploration concession for Unconventional Onshore Block 3 (UCO3) by Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA). The UCO3 concession area is 3,609 square kilometers, or nearly 900,000 acres, in an over-pressured, oil prone basin within the Al Dhafra region
(Oil Price) – The United States and the United Arab Emirates (UAE) expect to invest a total of $440 billion in the energy sector through 2035, Sultan Al Jaber, the chief executive of the UAE’s state oil and gas firm ADNOC, said on Friday. The United States is expected to invest $60 billion in energy projects in the UAE, while the Gulf oil-producing
(BOE Report) – Abu Dhabi state oil company ADNOC is considering a bid for natural gas assets of investment firm Aethon Energy Management that could potentially be worth about $9 billion, Bloomberg News reported on Friday, citing people familiar with the matter. ADNOC has done a string of acquisitions in gas and chemicals, which along with LNG and renewables it
(World Oil) – (Bloomberg) – The United Arab Emirates’ biggest oil company is seeking to buy its first natural gas producing fields in the U.S. to deepen its presence in the country, according to people familiar with the matter. Abu Dhabi National Oil Co. wants the deals to complement its recent acquisitions of chemical plants and liquefied natural gas export
(World Oil) – ADNOC will transfer stakes in some U.S. assets to its new international investment firm, XRG PJSC, part of a push to create a $80 billion global venture. Abu Dhabi National Oil Co.’s holdings in a hydrogen venture with Exxon Mobil Corp. and NextDecade Corp.’s LNG export project will move to XRG, according to CEO Sultan Al Jaber.
(World Oil) – ADNOC Gas in partnership with Baker Hughes has successfully installed British climate technology firm Levidian’s patented LOOP technology at the Habshan Gas Processing Plant. This marks the first-ever deployment of the technology at an operational gas processing site. Carbon will be captured from methane, the main constituent of natural gas, and transformed into graphene, a material set
(World Oil) – ADNOC and AIQ announced today at ADIPEC the launch of ENERGYai, the world’s first-of-its-kind custom-built agentic artificial intelligence (AI) solution for the global energy transformation. ENERGYai will combine large language model technology with cutting-edge ‘agentic’ AI – AI ‘agents’ that are trained in specific tasks across ADNOC’s value chain. These specialized AI agents bring a new level
(World Oil) – ADNOC announced today the deployment of AIQ’s Advanced Reservoir 360 (AR360) solution on more than 30 reservoirs across ADNOC’s upstream operations, following the solution’s successful initial deployment in early 2024 on two ADNOC reservoirs at Bab and Umm Shaif fields. Developed by AIQ with SLB as part of ENERGYai, ADNOC’s artificial intelligence and digital technology strategy, AR360
(World Oil) – SLB announced an agreement to create Turnwell Industries LLC OPC (Turnwell), a joint venture (JV) with ADNOC Drilling Company, SLB and Patterson-UTI. The JV will allow the three companies to leverage leading innovations in AI, smart drilling design, completions engineering and production solutions. The JV will focus on the acceleration of UAE’s unconventional oil and gas program,
Oil Price ADNOC has bought an 11.7% stake in Phase 1 of NextDecade’s Rio Grande LNG export project in Texas, Abu Dhabi’s national oil company said on Monday, announcing its first strategic investment in the U.S. The state energy firm of the United Arab Emirates (UAE) has also signed a 20-year LNG offtake agreement from Rio Grande LNG Train 4 with NextDecade.
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