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Fossil Energy

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Illustration; Source: ADNOC L&S
Fossil Energy

Shipbuilding giants rake in $2.5 billion from UAE player’s LNG fleet expansion rush

ADNOC L&S has gone on a spending spree to bolster its liquified natural gas (LNG) carriers’ arsenal with multiple newbuild vessels.

about 2 years ago
South Pars (SP) Phase 11; Source: IOEC
Fossil Energy

Russia and Iran enhance energy ties as Gazprom walks off with fresh gas supply deal

Gazprom has signed a strategic MoU on facilitating pipeline supplies of Russian natural gas to Iran with the National Iranian Gas Company.

about 2 years ago
Kingdom 2 jack-up rig; Source: Lamprell
Fossil Energy

Newbuild jack-up rig leaves UAE yard and sets sail to Saudi Arabia

Lamprell has completed the construction and delivery of a second of 20 planned newbuild offshore jack-up rigs, destined to work in Saudi Arabian waters.

about 2 years ago
Leviathan field; Source: NewMed Energy
Fossil Energy

Chevron-operated Mediterranean gas field ready to get export boost show on road

Following government approval, partners in a gas field offshore Israel are expected to reach a decision on expanding its natural gas exports.

about 2 years ago
West Tucana jack-up rig; Source: Seadrill
Fossil Energy

Three oil & gas rigs say their goodbyes to Seadrill’s offshore drilling fleet

Seadrill has sold three jack-up rigs deployed in Qatar to its ex-joint venture partner, Gulf Drilling International (GDI).

about 2 years ago
Illustration; Source: Westwood
Fossil Energy

Namibia’s discoveries seen as silver lining: Global drilling costs up but exploration success rate down

High-impact exploration average discovery size is declining while costs have risen for the fifth consecutive year.

about 2 years ago
FPSO Energean Power works at the Karish field offshore Israel; Source: Energean
Fossil Energy

Energean bids farewell to Egypt, Italy, and Croatia as assets fetch $945 million

Energean has set the divestment of its portfolio in Egypt, Italy, and Croatia in motion for an enterprise value (EV) of up to $945 million.

about 2 years ago
After ExxonMobil, Petrobras and Equinor, another energy major hires French firm
Fossil Energy

After ExxonMobil, Petrobras and Equinor, another energy major hires French firm

French provider of tubular solutions Vallourec has secured a contract extension with Abu Dhabi National Oil Company (ADNOC) to continue supplying tubes and connections for offshore and onshore oil and gas fields. Vallourec and the National Oil Company of Abu Dhabi signed a two-year extension to the

about 2 years ago
Illustration; Source: DNV
Fossil Energy

DNV: Oil & gas witnessing confidence resurgence while energy transition price tag hampers net-zero aspirations

A new survey from DNV pinpoints the cost of the energy transition as the biggest barrier to meeting the net zero targets.

about 2 years ago
Illustration; Source: AG&P LNG
Fossil Energy

Global LNG markets facing oversupply while key importing regions work on curbing demand

The new wave of LNG supply is set to flood the market amid demand uncertainty, according to the Institute for Energy Economics and Financial Analysis (IEEFA).

about 2 years ago
Sattelite photo showing the 2021 oil spill off the coast of Baniyas, Syria; Credit: Planet Labs
Fossil Energy

More than 750 oil slicks spotlight pollution risks in Mediterranean Sea

757 oil slicks, covering 1.9 million hectares in the Mediterranean Sea, have been identified between July 2020 – January 2024.

about 2 years ago
ADNOC
Fossil Energy

Go-ahead for ADNOC’s huge LNG project prompts $5.5 billion deal for its development

ADNOC has made a final investment decision (FID) for its giant liquefied natural gas (LNG) project, which is envisioned as a lower-carbon intensity development.

about 2 years ago
Illustration; Source: Wintershall Dea
Fossil Energy

Wintershall Dea closing its UAE chapter with exit from massive offshore sour gas project

Wintershall Dea has decided to divest its stake in a giant sour gas development off the coast of the UAE to Thailand’s PTTEP.

about 2 years ago
Illustration; Source: ADNOC Logistics and Services
Fossil Energy

Twofold increase in LNG vessel orders playing out against the backdrop of elevated newbuilding prices

The number of LNG newbuilding values is perceived to be at a record high with twice as many newbuild orders in 2024 as there were last year.

about 2 years ago
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