Gazprom Neft, Mubadala Sign Tech Pact
Gazprom Neft, is the third largest oil producer in Russia, and Mubadala Petroleum (Abu Dhabi, UAE) have entered into a memorandum of understanding in the field of technological cooperation.The partners agreed to work together to create new technologies that include the development of innovative solutions in oil production and digitization of production processes.Gazprom…
Egypt Okays BP, Mubadala Acquisition of Stake in Eni's Noor Concession
Egypt’s petroleum ministry has signed an agreement for UK Petroleum giant British Petroleum (BP) and UAE investment fund Mubadala to buy a 45 percent stake in the country's Noor offshore natural gas concesion in the Mediterannean from Italy’s Eni.In the concession, which is in participation with Egyptian Natural Gas Holding Company (EGAS), Eni as operator through its subsidiary, IEOC, now holds a 40 percent interest.
Cepsa Appoints Musabbeh Al Kaabi as Chairman
Spanish multinational oil and gas company Cepsa announced that Musabbeh Al Kaabi was named as Chairman in succession to Suhail Al Mazrouei at a meeting of the Board of Cepsa.This follows the appointment by Mubadala, as sole shareholder, of Saeed Al Mazrouei, Ahmed Saeed Al Calily and Bakheet Al Katheeri as members of the Board for a statutory period of four years.The three new board members…
Cepsa Postpones Bumper IPO, Blames Market Rout
Spain's Cepsa postponed what would have been the largest oil company listing in a decade on Monday, the latest IPO to succumb to a global sell-off in equity markets.Cepsa's owner, Abu Dhabi state investor Mubadala, had planned to raise about 2 billion euros ($2.3 billion) by selling 25 percent of Cepsa.Markets have been roiled by anxiety about a potential trade war between the United States and China…
Asian Oil, Gas Producers Stepping up Activity after Long Lull
Asia's oil and gas producers are starting to revive projects aimed at deflating years of ballooning energy imports after new investment dried up following the 2014 industry crisis. Spending has so far been driven mainly by state oil companies such as India's ONGC, Thailand's PTTEP and PetroVietnam, which need to produce more oil and gas to ensure their countries' energy security…
Russia's Rosneft in Talks with Mubadala on East Siberian Fields
Russia's Rosneft, the world's top listed oil company by output, is in talks with Mubadala Petroleum to jointly develop two east Siberian projects, Tass Yuriakh and Verkhnechonskoye, the Kremlin said on Monday. The Kremlin did not give any further details in documents prepared for President Vladimir Putin's meeting with Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan on Tuesday. (Reporting by Katya Golubkova)
EmiratesLNG to Start Operations Mid-2018
EmiratesLNG, a joint venture between UAE state-controlled International Petroleum Investment Co (IPIC) and Mubadala Petroleum, will start output from a yet-to-be-built liquefied natural gas (LNG) import facility by mid-2018. "It's a strategic project for this country and we are moving forward with it," Musabbeh al-Kaabi, chief executive officer of Mubadala Petroleum, told reporters on the sidelines of an energy event in Abu Dhabi.
Tanzania Shelves Plans to Review Mining, Gas Contracts
Tanzania's tax authority has scrapped plans to review mining and gas contracts, after its announcement of the move last week rattled investors in the east African country's rich gold and natural gas resources. The Tanzania Revenue Authority (TRA) said last week it was seeking technical assistance to renegotiate mining development agreements (MSAs) and energy production sharing agreements (PSAs).
Tanzania Receives Five Bids for Oil & Gas Blocks
Russian, Chinese firms submit bids. Four blocks fail to attract bidders. Tanzania, a hotspot for natural gas exploration, has received five bids for just half of the eight oil and gas blocks it offered in its latest bidding round, its upstream regulator said on Wednesday. Tanzania, which has made big discoveries of natural gas off its southern coast, had offered seven deep-sea offshore blocks and one block in Lake Tanganyika.
