ADNOC’s offshore operations are supporting the company’s goal to increase production capacity to five million bbl/d by 2030 and enable gas self-sufficiency for the United Arab Emirates (UAE), ADNOC said.
Brent crude futures snapped a three-day rally on Dec. 24 in light trading before the Christmas holidays, but the benchmark ended the week higher, with the market focusing on next steps by OPEC+ and the impact of the Omicron variant.
Baker Hughes announced an order with longtime partner Qatar Petroleum to supply multiple main refrigerant compressors (MRCs) for Qatar Petroleum’s North Field East (NFE) project, executed by Qatargas, on Sept. 29.
Fugro has completed the first phase of its multidisciplinary offshore site investigation for Qatargas’ North Field production sustainability’s compression phase on July 21.
A third of the world’s seaborne oil—almost 17 MMBbl/d—passes through the strait, which narrows to just 21 miles and has long been a strategic chokepoint in the Persian Gulf.
OPEC+ to extend cuts but Iran’s oil minister laments the growing influence of Russia and Saudi Arabia.
Cut in imports from Iran is cited for reduction.
Iraq has signed a contract with China’s CNOOC to conduct a seismic survey for two oil exploration blocks, the oil ministry said on Jan. 31.