Posts filtered by tags: Abu Dhabi National Oil Co[x]


 

#UAE oil discoveries bolster ADNOC bid to reach 5 million bpd capacity: minister | Reuters

UAE oil discoveries bolster ADNOC bid to reach 5 million bpd capacity: minister | Reuters United Arab Emirates’ Energy Minister Suhail al-Mazrouei said on Monday the latest oil discoveries are part of state-owned Abu Dhabi National Oil Co’s efforts to increase production capacity to 5 million barrels per day by 2030.The UAE on Sunday announced the discovery of two billion barrels of conventional oil reserves and 22 billion barrels of unconventional oil reserves.The discoveries “reflect the const...
Tags: Travel, Uae, Reuters, Suhail Al Mazrouei, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Mazrouei, Reuters United Arab Emirates ' Energy


#AbuDhabi Plans $122 Billion in Oil Spending to Boost Output - Bloomberg

Abu Dhabi Plans $122 Billion in Oil Spending to Boost Output - Bloomberg Abu Dhabi will invest 448 billion dirhams ($122 billion) in oil and natural gas over the next five years as it seeks to raise production capacity, even while OPEC restricts its output.The Gulf emirate’s top body for energy policy, the Supreme Petroleum Council, approved the budget for Abu Dhabi National Oil Co., the state-run WAM news agency reported on Sunday. The investment plan will contribute to growth and expansion “in...
Tags: Travel, Wam, Opec, Bloomberg, United Arab Emirates, Abu Dhabi, Uae, Gulf, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Supreme Petroleum Council, Bloomberg Abu Dhabi


Oil-Rich #AbuDhabi to Start Trading in Crude Futures From March - Bloomberg

Oil-Rich Abu Dhabi to Start Trading in Crude Futures From March - Bloomberg Oil-rich Abu Dhabi will open a commodities exchange in March to rival those of Middle Eastern neighbors and allow investors to trade its crude using futures contracts for the first time.The ICE Futures Abu Dhabi exchange will open on March 29 and offer contracts based on the emirate’s flagship Murban crude grade, pending regulatory approvals, Intercontinental Exchange Inc. said in a statement Monday. The Atlanta-based op...
Tags: Travel, Atlanta, Bloomberg, United Arab Emirates, Abu Dhabi, Intercontinental Exchange Inc, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Bloomberg Oil, Rich AbuDhabi, Rich Abu Dhabi, OPEC Murban


#UAE Signals It’ll Atone For Pumping Too Much Oil in July, August - Bloomberg

UAE Signals It’ll Atone For Pumping Too Much Oil in July, August - Bloomberg:The United Arab Emirates sent a fresh signal it will make up for pumping too much oil in the past two months, as crude prices come under renewed pressure from sagging energy demand and rising coronavirus infections.Abu Dhabi National Oil Co., which produces almost all the UAE’s crude, has indicated to refiners and traders that reductions in oil shipments for October will continue through November.Adnoc will cut 25% of s...
Tags: Travel, Russia, Bloomberg, United Arab Emirates, Abu Dhabi, Uae, Organization of Petroleum Exporting Countries, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Upper Zakum, Lulu Das


Adnoc CEO Discusses #AbuDhabi Property Deal With Apollo - Bloomberg

Adnoc CEO Discusses Abu Dhabi Property Deal With Apollo - Bloomberg:Sultan Al Jaber, chief executive officer of United Arab Emirates' state-owned energy producer Abu Dhabi National Oil Co., or Adnoc, discusses its deal with Apollo Global Management. The private equity giant is investing $2.7 billion in Abu Dhabi’s property market along with a group of pension and insurance funds, in one of the largest real estate deals in the Middle East. The Apollo-led consortium will buy 49% of a property-leas...
Tags: Travel, Bloomberg, Middle East, United Arab Emirates, Abu Dhabi, Apollo Global Management, ADNOC, Rupert Neil Bumfrey, Al Jaber, Abu Dhabi National Oil Co, AbuDhabi Property Deal With Apollo Bloomberg, Abu Dhabi Property Deal With Apollo Bloomberg, Adnoc Al Jaber


Apollo’s Zelter on #AbuDhabi Property Deal With Adnoc - Bloomberg

Apollo’s Zelter on Abu Dhabi Property Deal With Adnoc - Bloomberg:Apollo Global Management Co-President Jim Zelter discusses the private equity giant's decision to invest $2.7 billion in Abu Dhabi’s property market along with a group of pension and insurance funds, in one of the largest real estate deals in the Middle East. The Apollo-led consortium will buy 49% of a property leasing unit established by United Arab Emirates' state-owned energy producer Abu Dhabi National Oil Co., or Adnoc, Zelte...
Tags: Travel, Bloomberg, Middle East, United Arab Emirates, Abu Dhabi, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Zelter, AbuDhabi Property Deal With Adnoc Bloomberg, Abu Dhabi Property Deal With Adnoc Bloomberg, Apollo Global Management Co, Jim Zelter, Adnoc Zelter


Middle East Deals: #AbuDhabi Adnoc Seeks Investors for $21 Billion Gas Pipeline - Bloomberg

Middle East Deals: Abu Dhabi Adnoc Seeks Investors for $21 Billion Gas Pipeline - Bloomberg:Abu Dhabi is considering bringing local investors into its natural-gas pipeline network, according to people familiar with the matter, just months after raising cash from foreign funds.State-owned Abu Dhabi National Oil Co. is discussing moving its 51% holding in the pipelines into a special-purpose vehicle, according to the people. It would then sell about 20% of the vehicle to one or more local funds, g...
Tags: Travel, United Arab Emirates, Abu Dhabi, State, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, AbuDhabi Adnoc, Billion Gas Pipeline Bloomberg, Abu Dhabi Adnoc


Adnoc Considers Stake Sale in $5 Billion of Properties - Bloomberg

Adnoc Considers Stake Sale in $5 Billion of Properties - Bloomberg:Abu Dhabi National Oil Co. is exploring the possibility of selling a stake in its real estate portfolio, the latest effort by the state-owned energy producer to raise funds and attract foreign investors.Initial estimates value the properties at about $5 billion, according to people familiar with the matter, who asked not to be identified because talks are private. The plan is in its inception stage and could still change, they sa...
Tags: Travel, Singapore, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Properties Bloomberg


#AbuDhabi’s Adnoc Forms Venture For Petrochemical Investment - Bloomberg

Abu Dhabi’s Adnoc Forms Venture For Petrochemical Investment - Bloomberg:Abu Dhabi National Oil Co. formed a venture with a state holding company to boost investment in petrochemical projects, part of the emirate’s drive to expand beyond raw crude into more valuable products.Adnoc and its partner, ADQ, agreed to invest in and manage downstream activities at the planned Ruwais Derivatives Park, they said in a statement. They will complete a feasibility study this year.The partners, both based in ...
Tags: Travel, United Arab Emirates, Abu Dhabi, Middle Eastern, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Ruwais Derivatives Park


#AbuDhabi Sells $10 Billion Stake in Pipelines to Consortium - Bloomberg

Abu Dhabi Sells $10 Billion Stake in Pipelines to Consortium - Bloomberg:Abu Dhabi sold a $10.1 billion stake in its natural-gas pipelines to a group of six investors including Global Infrastructure Partners, Brookfield Asset Management Inc. and Singapore’s sovereign wealth fund, in the biggest infrastructure acquisition so far this year.The buyers will have a 49% holding in a new subsidiary for the pipelines set up by Abu Dhabi National Oil Co., which will retain the rest of the shares, the sta...
Tags: Travel, Singapore, Abu Dhabi, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Consortium Bloomberg


Middle East Oil, OPEC: #AbuDhabi Follows Saudis in Raising Crude Prices Amid OPEC+ Cuts - Bloomberg

Middle East Oil, OPEC: Abu Dhabi, Saudi Arabia Lift Prices - Bloomberg:Abu Dhabi boosted pricing for its main Murban crude grade one day after Saudi Arabia posted sharply higher prices of its own, adding weight to efforts by producers to extend a rally in oil while they also limit supply.Government-owned producer Abu Dhabi National Oil Co. raised July pricing for its flagship grade by $5.45 a barrel, according to a statement on Monday. Murban swung to a premium over the benchmark from a discount...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, United Arab Emirates, Abu Dhabi, Saudi Aramco, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Abdulaziz bin Salman, Abu Dhabi Saudi Arabia


#AbuDhabi Said to Near Pipeline Stake Sale to GIP-Backed Group - Bloomberg

Abu Dhabi Said to Near Pipeline Stake Sale to GIP-Backed Group - Bloomberg:Abu Dhabi’s state-owned energy producer is close to selling a multibillion-dollar stake in its natural gas pipelines to an investor group backed by Global Infrastructure Partners and Brookfield Asset Management Inc., in what is set to be one of the year’s biggest infrastructure deals.The buyers could sign an agreement with Abu Dhabi National Oil Co. for a 49% stake in the pipelines this month, according to people with kno...
Tags: Travel, South Korea, Abu Dhabi, Brookfield Asset Management Inc, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Global Infrastructure Partners, GIC Pte, AbuDhabi Said, Abu Dhabi Said, NH Investment Securities Co, GIP Backed Group Bloomberg, Snam SpA Ontario Teachers ' Pension Plan Singapore


Gulf News, Middle East, #AbuDhabi Oil Refining and China Demand - Bloomberg

Gulf News, Middle East, Abu Dhabi Oil Refining and China Demand - Bloomberg:Abu Dhabi National Oil Co.’s main refinery is boosting efforts to sell fuel in China, where the economy is starting to recover from the coronavirus, according to Eni SpA, a partner in the plant.The Ruwais refinery resumed operations after shutting for scheduled maintenance, Peter Sahota, an Eni senior vice president for investor relations, said on a conference call. Adnoc did general turnaround work on all units of the r...
Tags: Travel, Europe, China, Rome, Eni, Far East, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Eni SpA, Sahota, Peter Sahota, Adnoc Refining


GIP Consortium Is Said to Seek $8 Billion Loan for Adnoc Deal - Bloomberg

GIP Consortium Is Said to Seek $8 Billion Loan for Adnoc Deal - Bloomberg: An ADNOC employee performs maintenance duties at the Borouge 3 petrochemical plant, at the company's Ruwais refinery.   Photographer: Christophe Viseux/Bloomberg An investor group backed by Global Infrastructure Partners and Brookfield Asset Management Inc. is seeking a loan of about $8 billion to finance the potential purchase of a stake in Abu Dhabi National Oil Co.’s natural gas pipelines, according to ...
Tags: Travel, Singapore, GIC, Brookfield Asset Management Inc, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Global Infrastructure Partners, SNAM, GIC Pte, Adnoc Deal Bloomberg, Borouge, Christophe Viseux Bloomberg An, Snam SpA Ontario Teachers Pension Plan


Petrofac says #AbuDhabi National Oil Co ends $1.65 bln Dalma gas contracts - Reuters

Petrofac says Abu Dhabi National Oil Co ends $1.65 bln Dalma gas contracts - Reuters:Oilfield services provider Petrofac said on Thursday Abu Dhabi National Oil Company (ADNOC) has terminated the $1.65-billion worth of contracts it had awarded to its Emirati unit for the Dalma gas development project.The contract was awarded to Petrofac Emirates two months ago and Petrofac said on Thursday it was “committed to working” with state-owned ADNOC in the coming weeks to explore alternative options. AD...
Tags: Travel, Saudi Arabia, Iraq, Opec, Petrofac, Reuters, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Abu Dhabi National Oil Company Adnoc, Dalma, Petrofac Emirates, AbuDhabi National Oil Co


GIP, Brookfield in Talks to Team Up for Adnoc Gas Pipelines - Bloomberg

GIP, Brookfield in Talks to Team Up for Adnoc Gas Pipelines - Bloomberg:Global Infrastructure Partners and Brookfield Asset Management Inc. are among investors in talks to jointly bid for a stake in Abu Dhabi National Oil Co.’s natural gas pipelines, which could be valued at about $15 billion, people with knowledge of the matter said.Italian infrastructure operator Snam SpA, Ontario Teachers Pension Plan, Singapore sovereign fund GIC Pte and a Korean firm are in discussions to join the same cons...
Tags: Travel, Brookfield, Brookfield Asset Management Inc, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Global Infrastructure Partners, GIC Pte, IFM Investors Pty, Adnoc Gas Pipelines Bloomberg, GIP Brookfield, Snam SpA Ontario Teachers Pension Plan Singapore


BlackRock no longer in the race for ADNOC's gas pipeline assets - sources

BlackRock Inc has dropped out of the race to become an investor in Abu Dhabi National Oil Co's (ADNOC) natural gas pipeline assets, two sources familiar with the matter said.
Tags: Money, businessNews, Blackrock, BlackRock Inc, ADNOC, Abu Dhabi National Oil Co


BlackRock, Snam Said to Bid for Stake in Adnoc Gas Pipelines - Bloomberg

BlackRock, Snam Said to Bid for Stake in Adnoc Gas Pipelines - Bloomberg:BlackRock Inc., KKR & Co. and Italian infrastructure operator Snam SpA are among suitors that made initial bids for a stake in Abu Dhabi National Oil Co.’s natural gas pipelines, which could be valued at about $15 billion, people familiar with the matter said.They’re competing with other bidders including Australian fund manager IFM Investors Pty and Ontario Teachers Pension Plan that submitted first-round offers in recent ...
Tags: Travel, Singapore, Abu Dhabi, Ontario, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Global Infrastructure Partners, GIC Pte, IFM Investors Pty, BlackRock Snam, Adnoc Gas Pipelines Bloomberg, BlackRock Inc KKR Co, Snam SpA


#UAE News: #AbuDhabi Cuts Oil Prices as Oil War Widens - Bloomberg

UAE News: Abu Dhabi Cuts Oil Prices as Oil War Widens - Bloomberg: Processing tanks at the Ruwais refinery and petrochemical complex, operated by Abu Dhabi National Oil Co., in Al Ruwais, United Arab Emirates, on May 14, 2018.    Photographer: Christophe Viseux/Bloomberg Abu Dhabi took a cue from Saudi Arabia and cut pricing for its crude as the world’s biggest producers prepare to flood oil markets in a race for market share.Abu Dhabi National Oil Co. announced forward pricing f...
Tags: Travel, Saudi Arabia, Russia, Opec, United Arab Emirates, Dubai, Abu Dhabi, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Abu Dhabi Cuts Oil Prices, Al Ruwais United Arab Emirates, Christophe Viseux Bloomberg Abu Dhabi


Oil Continues Decline Amid Intensifying OPEC Market Share Battle - Bloomberg

Oil Continues Decline Amid Intensifying OPEC Market Share Battle - Bloomberg:Oil’s rebound from its biggest crash in a generation halted after Saudi Arabia said it would boost its production capacity, and the United Arab Emirates said it would raise output.Futures fell as much as 4.3% in New York. The battle for market share intensified as Saudi Aramco announced plans to boost its oil production capacity to 13 million barrels a day and Abu Dhabi National Oil Co. vowed to pump as much as possible...
Tags: Travel, New York, Saudi Arabia, Opec, Bloomberg, United Arab Emirates, Saudi Aramco, Mizuho Securities USA, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Trump Administration, Bob Yawger


Oil Resumes Decline as Saudis, #UAE Vow Further Output Boost - Bloomberg

Oil Resumes Decline as Saudis, U.A.E. Vow Further Output Boost - Bloomberg:Oil’s rebound from its biggest crash in a generation halted after Saudi Arabia said it would boost its production capacity, and the United Arab Emirates joined them in raising supplies.Brent crude fell 3.4% in London after being up almost 7% earlier. Saudi Aramco said Wednesday it was making maximum efforts to boost its oil production capacity to 13 million barrels a day from 12 million after pledging to supply a record 1...
Tags: Travel, London, Saudi Arabia, White House, Opec, Bloomberg, United Arab Emirates, Donald Trump, Trump, Saudi Aramco, Rupert Neil Bumfrey, Abu Dhabi National Oil Co


#UAE News: Abu Dhabi to Boost Oil Output, Join OPEC Price War - Bloomberg

UAE News: Abu Dhabi to Boost Oil Output, Join OPEC Price War - Bloomberg:Abu Dhabi National Oil Co. will boost crude supply to customers to more than 4 million barrels a day in April as OPEC’s third-biggest producer joins an oil supply battle sparked by Saudi Arabia and Russia.Adnoc is also accelerating plans to boost output to 5 million barrels a day, the company said in a statement.Supplying that much crude to the market would mean adding more than 1 million barrels a day to what the United Ar...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, United Arab Emirates, Abu Dhabi, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Boost Oil Output Join OPEC Price War Bloomberg, Boost Oil Output Join OPEC, Russia Adnoc


Bahrain News: May Sell Stake in Oil Assets in IPO After Aramco - Bloomberg

Bahrain News: May Sell Stake in Oil Assets in IPO After Aramco - Bloomberg:Bahrain may transfer some of its oil and natural gas assets into a proposed state-run fund in which it could sell shares to investors, as the smallest Gulf Arab country seeks to balance its budget.The government is working on the project and may decide to proceed with it later this year, Oil Minister Mohammed bin Khalifa Al Khalifa said in an interview. It’s still deciding which assets to put into the proposed fund and ho...
Tags: Travel, Saudi Arabia, Bahrain, Aramco, Saudi Aramco, Persian Gulf, Finance Ministry, Gulf Arab, Al Khalifa, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Aramco Bloomberg, Neighboring Saudi Arabia, Mohammed bin Khalifa Al Khalifa


#Dubai, #AbuDhabi Find Natural Gas in Drive to End Qatar Imports - Bloomberg

Dubai, Abu Dhabi Find Natural Gas in Drive to End Qatar Imports - Bloomberg:Dubai and Abu Dhabi made what could be the world’s largest natural gas discovery since 2005 as the two biggest sheikhdoms in the United Arab Emirates aim to push the country to energy self sufficiency.The Jebel Ali reservoir located between the two emirates has 80 trillion cubic feet of gas resources, according to tweets by Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi’s crown prince, and Sheikh Mohammed bin Rashid Al M...
Tags: Travel, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Mohammed bin Rashid Al Maktoum, Jebel Ali, ADNOC, Rupert Neil Bumfrey, Wood Mackenzie Ltd, Abu Dhabi National Oil Co, Dubai Supply Authority, End Qatar Imports Bloomberg, Dubai Abu Dhabi Find Natural Gas, Sheikh Mohammed bin Zayed Al Nahyan Abu Dhabi, Liam Yates


Adnoc’s $15 Billion Gas Pipeline Said to Attract BlackRock, GIP - Bloomberg

Adnoc’s $15 Billion Gas Pipeline Said to Attract BlackRock, GIP - Bloomberg:BlackRock Inc., Global Infrastructure Partners and KKR & Co. are among suitors considering bidding for a stake in natural gas pipelines being sold by Abu Dhabi’s state-owned energy giant, people familiar with the matter said.Australia’s IFM Investors Pty and Ontario Teachers’ Pension Plan are also weighing offers for a stake in Abu Dhabi National Oil Co.’s gas pipeline unit, according to the people. A deal could value th...
Tags: Travel, Australia, United Arab Emirates, Abu Dhabi, Persian Gulf, Ontario Teachers, KKR Co, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, BlackRock GIP Bloomberg, BlackRock Inc Global Infrastructure Partners, IFM Investors Pty


Oil-Storage Demand at Top Mideast Hub Drives Brooge Expansion - Bloomberg

Oil-Storage Demand at Top Mideast Hub Drives Brooge Expansion - Bloomberg:Brooge Petroleum and Gas Investment Co. plans to expand its crude-storage capacity six-fold at the Middle Eastern port of Fujairah to meet “huge” demand at the busiest oil-trading hub in the region.The United Arab Emirates-based business will sign contracts by the end of the first quarter, or soon after, to lease out the additional capacity, Chief Executive Officer Nicolaas Paardenkooper said in an interview. It will compl...
Tags: Travel, United Arab Emirates, Middle Eastern, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Nicolaas Paardenkooper, Paardenkooper, Brooge, Top Mideast Hub Drives Brooge Expansion Bloomberg, Brooge Petroleum and Gas Investment Co, Fujairah the world


UAE to double renewable energy portfolio in next 10 years - ADNOC

The United Arab Emirates grew its renewable energy portfolio by more than 400% in the last 10 years, and is on track to double that again in the coming decade, Abu Dhabi National Oil Co. chief executive Sultan al-Jaber said on Monday.
Tags: Money, businessNews, United Arab Emirates, ADNOC, Jaber, Abu Dhabi National Oil Co


#UAE to double renewable energy portfolio again in next ten years - ADNOC - Reuters

UAE to double renewable energy portfolio again in next ten years - ADNOC - Reuters:The United Arab Emirates grew its renewable energy portfolio by more than 400% in the last 10 years, and is on track to double that again in the coming decade, Abu Dhabi National Oil Co.[ADNOC.UL] chief executive Sultan al-Jaber said on Monday.ADNOC “will increase our carbon capture utilization and storage program by 500% ... to capture the same amount of C02 as 5 million acres of forest,” Jaber also told a sustai...
Tags: Travel, United Arab Emirates, Abu Dhabi, ADNOC, Jaber, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, ADNOC Reuters


Indonesia to sign billions of dollars of energy and trade deals in #AbuDhabi - Reuters

Indonesia to sign billions of dollars of energy and trade deals in Abu Dhabi - Reuters:Indonesian President Joko Widodo will oversee the signing of $18.8 billion worth of energy and trade deals on a visit to Abu Dhabi, including Pertamina’s deal with Abu Dhabi National Oil Co to upgrade a West Java refinery, ministers said on Tuesday.Some of the deals have been under discussions for some time, while others, such as Pertamina’s purchase of LPG from ADNOC, are new.Widodo will witness the signings ...
Tags: Travel, Indonesia, Southeast Asia, Joko Widodo, Abu Dhabi, West Java, Widodo, Pertamina, ABU DHABI Reuters, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Sheikh Mohammed bin Zayed al Nahyan, AbuDhabi Reuters


#AbuDhabi to Open ICE-Operated Exchange for Murban Oil Futures - Bloomberg

Abu Dhabi to Open ICE-Operated Exchange for Murban Oil Futures - Bloomberg:Oil-rich Abu Dhabi plans next year to start a commodities exchange to offer trading in the emirate’s first crude futures contract.The platform will be based in Abu Dhabi’s financial district and operated by Intercontinental Exchange Inc., according to people with knowledge of the situation. Atlanta-based ICE will be the majority owner, with Abu Dhabi National Oil Co. and several European and Asian oil companies and trader...
Tags: Travel, Atlanta, Abu Dhabi, Intercontinental Exchange Inc, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Murban Oil Futures Bloomberg