The OPEC+ oil cartel is facing its biggest crisis since a price war at the start of the coronavirus pandemic.
Sultan Al Jaber
Intercontinental Exchange (ICE) has begun trading Murban Futures, the fruition of the plan launched in November 2019.
The day before US President Joe Biden was inaugurated in Washington DC, Adnoc’s CEO was speaking in support of the ties that bind the two.
Adnoc, Mubadala Investment and ADQ have signed a memorandum of understanding (MoU) on launching the Abu Dhabi Hydrogen Alliance.
Adnoc has signed on to decarbonisation plans with the Japanese Ministry of Economy, Trade and Industry (METI) while also securing support for the launch of its new Murban future.
Eni and Thailand’s PTT Exploration and Production (PTTEP) have won the first offshore block in Abu Dhabi’s second bid round, Adnoc has announced.
Occidental Petroleum has won the exploration rights to Abu Dhabi Onshore Block 5, Adnoc has reported.
Adnoc has launched its second trading arm, focusing on refined products.
Total and Adnoc have signed a strategic framework agreement on CO2 reductions and carbon capture, utilisation and storage (CCUS).
Intercontinental Exchange (ICE) plans to launch ICE Futures Abu Dhabi (IFAD) and the world’s first futures contracts based on Murban crude oil on March 29, 2021.
There are brighter days ahead for the oil industry, but companies must be agile and cut costs, Adnoc’s CEO Sultan Al Jaber said in opening remarks to the Adipec conference.
Adnoc is considering how best to meet the world’s changing energy needs, although oil and gas will “remain at the heart” of the company’s business model, said Sultan Al Jaber.
Adnoc has launched an artificial intelligence (AI) joint venture with Abu Dhabi’s Group 42.
An Apollo Global Management-led group will pay $2.7 billion to Adnoc for a 49% lease in various properties.
A group of international investors is buying a stake in ADNOC’s gas pipeline assets, which are valued at $20.7 billion.
There are “signs that the market has tightened in recent weeks and the OPEC++ agreement … is working to start to rebalance the market,” ADNOC’s CEO Sultan Ahmed al-Jaber said in comments at the company’s ‘Virtual Majlis’.
Abu Dhabi is taking steps to cement its position as a reliable supplier through the launch of the Murban Futures contract.
The Abu Dhabi National Oil Company (ADNOC) has today announced a six block licencing opportunity in conjunction with the Supreme Petroleum Council (SPC).
Oil markets will probably balance by the end of next year, with prices rising in the medium term, according to Sultan Al Jaber, the new head of Abu Dhabi National Oil Co.