Middle East

ADNOC Gas Awards $3.6 Billion Contract to Expand UAE Gas Processing

State oil giant Abu Dhabi National Oil Company's gas unit, ADNOC Gas, said on Wednesday it awarded a $3.6 billion contract to expand its gas processing infrastructure in the United Arab Emirates.

India's GAIL Close to Finalizing Qatar LNG Purchase Deal

The deal would be part of GAIL's plans to lock in new supply contracts by 2030 to diversify its gas imports and hedge against supply disruptions like those seen after Russia's invasion of Ukraine last year, when LNG prices surged to a record high.

Israel Energy Minister Backs More Natural Gas Exports

Israel's energy minister said on Wednesday that more of the country's natural gas reserves should be earmarked for export, amid renewed interest in offshore exploration and an ongoing debate on whether the gas should be kept for domestic use.

India's ACME Group Gets $490 Million in Funding for Oman Project

Indian renewable energy company ACME Group said on Friday it raised $487.98 million in fresh funding from infrastructure finance firm REC, to start its green hydrogen and ammonia project in Oman.

Iraq Renews Deal to Supply Lebanon Up to 2 Million Tons of Crude for A Year

Iraq renewed its agreement to provide Lebanon with up to 2 million tons of crude oil for a year, Lebanese energy ministry said in a statement on Friday.

Global News July 2023

Latest industry developments from around the world!

Global Construction Update: LNG Markets, Resurgent China Kindle Pipeline Projects

(PGJ) — Global midstream markets continue to face near-term headwinds and economic uncertainties, but Europe’s rapid transition from Russian energy and projected higher demand in Asia continue to drive midstream expansion in those regions and others that supply them.

Riyadh, Tokyo to Cooperate on Energy Security, Hydrogen and Ammonia

Saudi Arabia said on Sunday it remains committed to securing oil supplies for Japan and will continue cooperating with Tokyo on clean hydrogen, ammonia, and recycled carbon fuels.

Indian Oil Signs Long Term LNG Import Deals with ADNOC LNG, TotalEnergies

Indian Oil Corp., the country's top refiner, has signed long-term LNG import deals with United Arab Emirates' s Abu Dhabi Gas Liquefaction Co. Ltd. (ADNOC LNG) and France's TotalEnergies.

Iraq-Iran Gas-for-Oil Barter Would Likely Violate US Sanctions

A barter of Iranian natural gas for Iraqi oil as described by the Iraqi prime minister this week would likely violate U.S. sanctions on Tehran unless the U.S. issued a waiver permitting it, three former U.S. officials said on Thursday.

Brent Oil Hovers Above $81 After Supply Disruptions

Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria.

Qatar Expects Record Volume of LNG Offtake Signings This Year

About 40% of new global LNG output will come from Qatar by 2029, said Minister of Energy Saad al-Kaabi at the LNG 2023 conference. The country last year approved expansion projects that will boost its LNG output by 64% to 126 million tons per year by 2027.

ADNOC Invests $1.34 Billion in 186-Mile Expansion of UAE Gas Pipeline Network

(P&GJ) — ADNOC Gas is set to revolutionize natural gas distribution in the Northern Emirates of the United Arab Emirates with an ambitious expansion plan, increasing its pipeline network by approximately 300 km (186 miles) from over 3,200 km (1,988 miles) to over 3,500 km (2,174 miles).

Engie Bets on Korean Demand with $7 Billion Oman Green Ammonia Project

The approximately $7 billion project will consist of five gigawatts of new wind and solar, an electrolyzer producing 200,000 tons of hydrogen each year, and dedicated hydrogen pipelines to bring the gas to an ammonia production plant near the port of Duqm.

Leviathan Partners in Israel to Invest $568 Million in Third Gas Pipeline

Partners in the Israeli offshore gas project Leviathan said on Sunday they would invest $568 million to build a third pipeline that will allow increased natural gas production and exports.

ADNOC Selects Petrofac for $700 Million Gas Compressor Plant Project at Habshan Complex

(P&GJ) — ADNOC Gas Processing has selected Petrofac to undertake a significant new engineering, procurement and construction project at its Habshan Complex.

Report: Israel's Gas Reserves Grew by 40% Over Past Decade

Israel's gas reserves grew from 780 billion cubic meters (Bcm) in 2012 to 1,087 Bcm at the end of 2022, while 119 Bcm was extracted over the same period, the report said.

Israel Preliminarily Approves Gas Field Development Off Gaza Strip

While Egypt and Israel have been producing gas in the eastern Mediterranean for years, the Gaza Marine field, about 30 km (20 miles) off the Gaza coast, has remained undeveloped due to political disputes and conflict with Israel, as well as economic factors.

Iraq Invites Foreign Bids for 11 Natural Gas Blocks to Reduce Reliance on Iranian Imports

Iraq on Sunday invited foreign companies to bid for contracts to explore and develop natural gas reserves in 11 new blocks as the OPEC member seeks to produce much-needed natural gas for power stations and cut imports that weigh on the country's budget.

Turkey, Iraq to Discuss Resuming Oil Exports Through Iraq-Turkey Pipeline

Turkey halted Iraq’s 450,000 bpd of northern exports through the Iraq-Turkey pipeline on March 25 after an arbitration ruling by the International Chamber of Commerce.

Oil Prices Partially Recover After US, Iran Deny Reported Nuclear Deal

Oil fell by more than $3 on the report that the U.S. would give Iran sanctions relief to export oil in return for Tehran reducing uranium enrichment.

US Crude Oil Exports to Gain Tail Winds from Saudi July Output Cut

U.S. crude oil exports, already running close to a record level hit in March, should get a further boost next month from deep production cuts in Saudi Arabia, analysts said on Monday, noting that this will also further deplete U.S. crude inventories, which have been hovering near historic lows.

Lukoil Raises Oil Output at Iraq's West Qurna 2 to 480,000 bpd

Russia's Lukoil has increased oil production at Iraq's southern West Qurna 2 oilfield by 80,000 barrels per day (bpd) to a total of 480,000 bpd, an oil official told Reuters on Thursday.

QatarEnergy and PetroBangla Sign 15-Year LNG Supply Deal

QatarEnergy has signed a 15-year supply deal for LNG with Bangladesh's state-owned PetroBangla for 1.8 million tonnes a year starting in 2026, CEO Saad al-Kaabi said on Thursday.

Source: QatarEnergy to Sign Long-Term Asian LNG Supply Deal on Thursday

QatarEnergy will sign a long-term LNG supply deal with an Asian entity on Thursday, a source with direct knowledge of the matter told Reuters.

Air Products Signs $1 Billion Deal for Gas Processing Facility in Uzbekistan

Industrial gases maker Air Products and Chemicals said on Thursday it had signed a $1 billion deal with the Republic of Uzbekistan government and Uzbekneftegaz JSC to acquire, own and operate a natural gas processing facility in the country.

Iraq Oil Minister: Saudi Aramco to Develop 400 MMcf/d Iraqi Gas Field

Saudi oil giant Aramco will develop a gas field in Iraq that could produce more than 400 million cubic feet of gas per day, Iraqi Oil Minister Hayan Abdel-Ghani said on Thursday.

China Prioritizing Turkmenistan Over Russia in Next Big Pipeline Project

China is accelerating the building of a long-delayed Central Asian pipeline to source gas from Turkmenistan even as Russia pushes its own new Siberian connection, as Beijing juggles its energy security needs with diplomatic priorities.

Oil Rises as US Gasoline Supplies Tighten, Saudi Says: 'Watch Out'

Oil prices rose on Tuesday on forecasts for a tighter gasoline market and a warning from the Saudi energy minister to speculators that raised the prospect of further OPEC+ output cuts.

Iraq's Kurdish Oil Output Falls as Pipeline Outage Continues

Oil production in Iraq's Kurdistan region continues to drop as export flows to Turkey's Ceyhan port show few signs of restarting after a stoppage that has lasted almost two months.