Energy News

Aramco completes $6 billion bond issuance

Aramco, one of the world’s leading integrated energy and chemicals companies, has completed a bond issuance of $6 billion. The issuance is comprised of three tranches of USD-denominated senior unsecured...

Aramco awards over $25 bn in contracts for strategic gas expansion

Aramco has announced the awarding of contracts exceeding $25 billion as part of its strategic plan to expand gas production by over 60 percent...

Aramco signs 20-year LNG purchase deal with NextDecade

Aramco has signed a non-binding Heads of Agreement (HoA) with NextDecade Corporation to buy LNG from the US-based company. Aramco, as part of the 20-year liquefied...

EIA Projects 8% Increase in Permian Basin Crude Oil Production for 2024

The U.S. Energy Information Administration (EIA) forecasts a significant boost in crude oil production from the Permian Basin, predicting an average output of about...

Saudi Arabia to Raise Over $11.2 bn in Aramco Share Sale

Saudi Arabia is set to raise more than $11.2 billion by selling shares in its oil giant Aramco, after pricing the stock at the...

Capex of energy companies up 10% to $390 bn: EIA

U.S. Energy Information Administration (EIA) has released its Financial Review of the Global Oil and Natural Gas Industry: 2023, indicating capital expenditure increased 10...

Energy Trade Value Between U.S. and Canada Drops in 2023 Amid Falling Prices

The value of energy trade between the United States and Canada decreased in 2023, marking a significant drop from the record levels seen in...

IEA report on Energy Technology R&D Budgets

The estimated total public energy research, development and demonstration (RD&D) budget for IEA member countries increased by 5 percent reaching USD 26.4 billion in 2023. This was...

IEA Lowers 2024 Oil Demand Forecast, Increasing Divergence with OPEC

On Wednesday, the International Energy Agency (IEA) reduced its forecast for 2024 oil demand growth, widening the gap with the Organization of the Petroleum...

OPEC Maintains Strong Oil Demand Forecast for 2024, Shifts Focus to OPEC+

The Organization of the Petroleum Exporting Countries (OPEC) reaffirmed its forecast for robust growth in global oil demand in 2024, expecting a rise of...

Shell to sell Energy and Chemicals Park in Singapore to CAPGC

Shell Singapore has reached an agreement to sell its Energy and Chemicals Park in Singapore to CAPGC. CAPGC is a joint venture between Chandra Asri...