The new target is part of ADNOC’s expanded In-Country Value (ICV) program which aims to drive an additional $49 billion back into the UAE economy by 2028. ADNOC’s previous 2027 target for local manufacturing of $19 billion worth of products was delivered ahead of schedule following the award of two contracts for metal pipes and...Continue Reading

Block also increased oil production to 151,184 bbls and gas production to 283 MMcf, resulting in an average daily production rate of 543 boed. Additionally, the company raised $2 million via a secured loan to undertake drilling operations on Project I and completed the Project IV farm-out, achieving a carried work program valued at over...Continue Reading

Georgia’s Car Re-Export Trade Faces Uncertain Future | OilPrice.com Eurasianet Eurasianet is an independent news organization that covers news from and about the South Caucasus and Central Asia, providing on-the-ground reporting and critical perspectives on… More Info Premium Content By Eurasianet – May 27, 2024, 1:00 PM CDT Georgia’s re-export of cars to Russia and...Continue Reading

The well remains on schedule to begin drilling in June 2024 and is targeting 163 MMbbl of unrisked prospective oil resources or 843 Bcf of unrisked prospective natural gas resources based on the most recent prospective resources report. SourceContinue Reading

OPEC Remains Optimistic About Global Oil Demand | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Related News By Michael Kern – May 27, 2024, 12:30 PM CDT The global economy has been relatively resilient in recent months, which has led OPEC to continue to anticipate robust...Continue Reading

Oil Prices Jump as Europe Hints at June Rate Cuts | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Premium Content By Michael Kern – May 27, 2024, 12:00 PM CDT Oil prices increased over 1% on Monday due to speculation about rate cuts. The European Central...Continue Reading

EU Adopts Rules on Methane Emission Limits for Fossil Fuel Imports | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 27, 2024, 11:30 AM CDT The European Union approved on Monday a set of rules and regulations that will impose methane emissions limits and monitoring of...Continue Reading

New Battery Tech Could Kill Two Major Decarbonization Challenges With One Stone | OilPrice.com Haley Zaremba Haley Zaremba is a writer and journalist based in Mexico City. She has extensive experience writing and editing environmental features, travel pieces, local news in the… More Info Premium Content By Haley Zaremba – May 27, 2024, 11:00 AM CDT...Continue Reading

Top German Utility to Build 1.6 GW Offshore Wind Farms in the North Sea | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Related News By Tsvetana Paraskova – May 27, 2024, 10:30 AM CDT Utility giant...Continue Reading

Sam Altman-Backed Nuclear Startup Signs Major Data Center Contract | OilPrice.com ZeroHedge The leading economics blog online covering financial issues, geopolitics and trading. More Info Premium Content By ZeroHedge – May 27, 2024, 10:00 AM CDT Oklo has signed a non-binding letter of intent with Wyoming Hyperscale for a 10-year power purchase agreement. Oklo is...Continue Reading