(Oil Price) – Hydrocarbons are set to meet about three-quarters of the expected 500% surge in power demand from data centers, as the AI boom and global economic growth push energy demand “accelerating across every dimension,” Sultan Al Jaber, ADNOC chief executive, said on Tuesday. The surge in AI use and the data centers to handle the technologies are set to
(World Oil) – ADNOC will maintain its investments at $150 billion over the next five years as it targets growth in production capacity at home and expands internationally. The company’s board approved the spending plan that’s in line with the previous layout that was announced three years ago. Since then, Abu Dhabi’s biggest oil producer has carved out an international investment
(World Oil) – The United Arab Emirates, long one of OPEC’s key oil producers, is pivoting to U.S.-tested fracing techniques to tap its “very promising” unconventional gas resources, with the intention of ramping up output amid forecasts for surging demand. Abu Dhabi National Oil Co. is tapping new sources of natural gas in its deserts and coastal waters to meet local
(Oil Price) – Concern has been rising that artificial intelligence is killing jobs, and there is evidence to support this. But in the energy industry, executives are loving AI. A fifth of energy companies are already using the technology, and an overwhelming majority of executives believe AI is a force for good. For energy, it has been. AI is driving energy demand much
(Oil Price) – The advance in AI and the surge in data center build-out have pushed global energy investment needs to $4 trillion annually, Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC chief executive, said on Monday. Large oil producers have been warning for years that investment in supply needs to rise to meet constantly growing global energy demand.
(Oil Price)– The prospect of a contango is casting a shadow over oil markets, with the entire 2026 WTI futures curve now trading below $60 per barrel—beneath breakeven levels for most new shale wells. TotalEnergies CEO Patrick Pouyanné and Vitol’s Russel Hardy warn that prices this low could cut U.S. shale output by 200,000 to 300,000 barrels per day next
(World Oil)– A looming surge in liquefied natural gas supply through the end of the decade is poised to create demand that won’t go away, said an ADNOC Gas executive. Prices of the super-chilled fuel are widely expected to drop as a number of LNG projects go online in the coming years, including Abu Dhabi National Oil Co.’s plant at
(Oil Price) – Abu Dhabi’s oil and gas giant ADNOC has drilled some horizontal wells and tested oil to the surface at a shale play in the United Arab Emirates operated by EOG Resources, the chief executive of the U.S. shale giant said at a conference. In May, EOG Resources was awarded a new oil exploration concession for Unconventional Onshore Block 3 (UCO3) by Abu
(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
