"The Shaheen project will increase chemical yields while reducing operating costs, thus making it more competitive especially in a low-margin environment," a Refinitiv analyst said of Saudi Arabia's investment.
Three maritime sources told Reuters that a drone was suspected to have attacked the oil tanker. An Israeli official said Iran was responsible for the attack, using a Shahed-136 drone, the type it has been supplying to Russia for use in Ukraine.
A focus of the deal was settling a dispute over a potential gas field in Lebanon’s offshore Block 9 that extends into Israeli waters. TotalEnergies is the operator of Block 9 with a 60% interest. Eni holds 40%.
The U.S. Treasury Department in early November imposed sanctions on a wide network of companies, people and vessels accused of concealing the Iranian origins of shipments and exporting them around the world.
Here’s a roundup of the latest E&P headlines, including a new startup and bid round from the past week in the upstream oil and gas industry.
Saudi Arabia's Public Investment Fund will anchor BlackRock's Middle East infrastructure strategy as the world's biggest fund manager.
Through the implementation of two emissions-reducing initiatives, APA Corp. was able to reach its ESG target at its Egyptian operations ahead of schedule.
“The most important thing is for people to see America’s largest natural gas producer here at COP27 as a symbol that we’re going to be a leader in energy transition,” EQT CEO Toby Rice told Reuters on the sidelines of COP27.
Saudi Aramco's carbon capture and storage facility is expected to contribute to the 44 million tonnes of CO2 Saudi Arabia plans to capture by 2035.
Nasser bin Hamad Al Khalifa, chairman of the kingdom’s energy investment and development arm Nogaholding, has updated Bahrain King Hamad bin Issa Al Khalifa on the discoveries, an official statement said without disclosing estimated reserves.