ADNOC

Indian Oil Corporation (IOC), the nation's largest oil firm, has signed a USD 7-9 billion deal to import LNG from UAE on a long-term 14-year contract. IOC signed a long-term deal to receive 1.2 million tonnes per year of LNG from the United Arab Emirates beginning 2026 for 14 years. "ADNOC Gas has signed a 14-year sales and purchase agreement with Indian Oil Corporation Ltd (IOC) for the export of up to 1.2 million tonnes per annum (mtpa) of Liquefied Natural Gas (LNG) to India's largest integrated and diversified energy company which will be supplied from Das Island liquefaction facility," ADNOC Gas said in a statement. The deal was signed on the sidelines of India Energy Week here. "The agreement, valued in the range of USD 7 billion to USD 9 billion over its 14-year term signifies a major step forward in the partnership with IOC and we look forward to supporting India's plans to make gas 15 per cent of its primary energy basket by 2030," it added. The deal with IOC is the secon

The takeover will value the German company at €62 per share and hinges on the Abu Dhabi oil producer receiving at least 50 per cent plus one share in its tender offer

ADNOC has big ambitions in gas and LNG, which along with renewable energy and petrochemicals it sees as pillars for its future growth, putting it in competition with regional rivals Qatar

Other oil majors Shell, BP and Total Energies are also expected to invest, the report said

NewMed said all parties had agreed to pause negotiations, although Abu Dhabi National Oil Co (ADNOC) and BP have reaffirmed their interest in the deal

"We are in ongoing and open-ended negotiations and cannot comment further," OMV said in a statement

A state-run oil giant in the United Arab Emirates said on Monday it has moved up its target for achieving net zero emissions in its operations to 2045, as the country prepares to host UN climate talks later this year. The Abu Dhabi National Oil Company, known as ADNOC, said it is also committed to acheiving zero methane emissions by 2030. Methane is a greenhouse gas that is 80 times more potent than carbon dioxide in the short term. Earlier this year, ADNOC earmarked USD 15 billion for an array of green initiatives, including the development of hydrogen power, carbon capture facilities and the planting of mangroves. The company had previously committed to net zero the balancing of greenhouse gas emissions to the point that the amount removed from the atmosphere is equal to the amount emitted by 2050. The UAE, an OPEC member that produces over 3 million barrels of crude oil a day, will host the global climate talks known as COP28 from November 30 to December 12 in Dubai. It has

TotalEnergies would supply 0.8 million tpy LNG to IOC under the 10 year deal, it said. TotalEnergies would supply LNG to IOC from its global portfolio

Under the terms of the agreement, through its subsidiary, ADNOC Gas will supply TotalEnergies LNG, which will be delivered to various export markets around the world

"The role of Maharashtra government is crucial in acquiring the land," the source said

Delays in acquiring a 15,000-acre land parcel have almost stalled the project, initially planned for 2025, and boosted costs by 36% to $60 billion, as per estimates made in 2019

Officials said the agreement represents a reworking of India's gas sourcing strategy as the country aims to aggressively source LNG from a wider list of nations

RIL derives over 60 per cent of its revenue and nearly 55 per cent of its operating profit from its oil-to-chemicals (O2C) business

TA'ZIZ is joint venture between Abu Dhabi National Oil Co (ADNOC) and sovereign wealth fund ADQ

CDS Gen Bipin Rawat, his wife Madhulika Rawat and 11 other persons on board have died in a chopper crash in Tamil Nadu on Wednesday

A deal could follow after testing investor appetite and market conditions, sources said

Integrated plant will have a capacity to produce 940,000 tonnes of chlor-alkali, 1.1 million tonnes of ethylene dichloride and 360,000 tonnes of PVC annually

Saudi Aramco and Adnoc are still committed to investing in the planned $44 billion west coast refinery-cum-petrochemical project, the Chairman of the project's lead Indian partner said on Thursday

The Union Cabinet on Wednesday allowed Abu Dhabi National Oil Co (ADNOC) to trade half of the crude oil it has stored in Indian underground strategic reserves. Till now, ADNOC, which has hired half of 1.5 million tonnes underground storage at Mangaluru, was allowed to commercially use 35 per cent of the oil stored. It could trade or sell another 15 per cent with the explicit approval of the government. The Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi, allowed ADNOC to commercially use 50 per cent of the oil it has stored in the reserves, an official said. The flexibility allowed will encourage the company to store more oil in the three reserves India has built as insurance against supply and price disruptions. The official said while ADNOC bears the cost of oil, India has the first right over its usage in an emergency. This guarantees energy security without spending money on oil. Besides hiring half of the Mangaluru capacity, ADNOC had also

In September, India's oil minister said the refinery would cost more than the originally planned $45 billion.