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Occidental’s DAC goals offer potential lifeline for oil
Monday 2nd of October 2023US upstream independent Occidental Petroleum's far-reaching ambitions to remove CO2 from the air might extend a lifeline for the producer's core oil business in the coming decades, albeit one that has been met with intense scepticism by environmental groups
African countries are already booking stakes in Tanzania’s $42 Billion LNG project
Sunday 14th of May 2023Tanzania's liquefied natural gas (LNG) project cost rises to $42 billion, surpassing initial estimates and making it the largest energy project in eastern and southern Africa. The project aims to develop Tanzania's 57.54 trillion cubic feet of discovered gas by 2028, with participation from Shell and Equinor as lead partners, positioning Tanzania as the region's LNG giant. Despite the increased cost and extended timeline, neighboring countries like Uganda and Kenya have already signed agreements to purchase Tanzania's LNG, showcasing the potential for regional energy cooperation and utilization of clean energy resources.
Kuwait’s KPC and Shell sign deal to share oil and gas expertise
Sunday 14th of May 2023Kuwait’s state-owned energy company Kuwait Petroleum Corp and international major Shell have signed an MoU for exchanging know-how and expertise across various divisions of the fossil fuel sector. KPC said in a statement on Saturday that the memorandum of understanding (MoU) was inked as part of the approach by the corporation and its subsidiary companies to benefit from top international companies in the oil and gas industries. The accord implies no financial liabilities, the statement added. The MoU was signed, last Wednesday, by the KPC Deputy Chairman and CEO Sheikh Nawaf Saud Al-Sabah and Shell CEO Wael Sawwan.
Could Carbon Markets Become Larger Than Oil And Gas?
Tuesday 9th of August 2022Carbon markets today are estimated to be worth over $100 billion and are expected to grow in the coming years. This potential spike in value could lead to a great opportunity for both the environment and investors. Has a new gold rush started? Let’s take a closer look.
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Value of oil, gas projects hits $15 bln
Tuesday 19th of July 2022According to a report by the MEED magazine, the value of oil and gas projects executed by Kuwait in 15 years, specifically during the period between 2005 and 2021, amounted to about $ 14.9 billion, reports Al-Anba daily. The year 2016 witnessed the largest awarding of oil and gas contracts ever, as Kuwait awarded contracts worth $ 4.2 billion
Upstream M&A deals reached a three-year high of $181 billion in 2021
Friday 21st of January 2022Global upstream merger and acquisition (M&A) deals rebounded to pre-Covid-19 levels in 2021, reaching a total of $181 billion, a 70% increase over 2020, Rystad Energy research shows. The total deal value for 2021 was the highest in three years and almost reached the highs seen in 2017 and 2018 of $205 billion and $199 billion, respectively.
Copper supply deficit of 6 million tons by 2030 threatens renewables, EVs, as investment lags demand
Friday 14th of January 2022Global demand for copper, an essential component in manufacturing electric vehicles (EVs) and consumer electronics, will outstrip supply by more than six million tonnes by 2030, Rystad Energy projects. A deficit of this magnitude would have wide-reaching ramifications for the energy transition as there is currently no substitute for copper in electrical applications. Significant investment in copper mining is required to avoid the shortfall.