Osaka Gas' president claims that it has no immediate requirement for additional US LNG.
Osaka Gas' president stated on Wednesday that the company does not need to purchase more liquefied gas from the United States as it already has enough to last until the middle of next decade. U.S. president Donald Trump pushes energy sales to Asian allies, while threatening tariffs on trade. This is reviving Alaska LNG's stagnated LNG ambitions. Last month, Shigeru Ishiba, the Japanese Prime Minister, and Donald Trump discussed a 20 million ton per year Alaska LNG Project…
UAE renewables firm Masdar weighs possible IPO, sources say
Three people familiar with the situation have confirmed that Masdar, Abu Dhabi's state owned renewables company, is considering a public offering. Two sources said that the company was considering a dual listing, one in New York and another in Abu Dhabi, to raise funds for renewable projects. A third person confirmed that Masdar had held informal discussions with banks. Two people have said that an IPO will not happen before 2026. One person said that the company might not even pursue an IPO.
Sources: Masdar, the UAE's solar energy company, is in negotiations with Endesa for a $200 million deal.
According to a document and two sources who are familiar with the matter, Masdar Abu Dhabi Renewable Energy Company and Endesa Spanish Power Utility are close to a deal in which Masdar would pay approximately $200 million for a 49% stake in Endesa's solar portfolio. The agreement for the approximately 450 megawatts portfolio would build on the partnership that already exists between the two companies, and further expand Masdar’s operations in Spain. It sees Spain as a key country for its European expansion.
Osaka Gas predicts that domestic thermal power will reach 3.2 GW in 2026
Osaka Gas is Japan's second largest city gas supplier. It said that its thermal power generation capacity in Japan will reach 3.2 gigawatts (3.2 gigawatts) by 2026, with the planned start-up of two 600 megawatt gas-fired units in Himeji. The current thermal capacity of the company is 2 GW. The utility announced Thursday that the first 600-MW unit at its Himeji Power Station will be launched in January 2026. The second unit will follow in May 2026.
Financial Times – March 13,
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Intel named Lip-Bu Tan, a former board member who has worked in the chip industry for many years, as its new CEO on Wednesday. Pat Gelsinger was ousted by the board of the struggling U.S.-based chipmaker back in December. Keir starmer, the British Prime Minister, will pledge on Thursday…
Tanzania announces that it will launch a round of oil exploration licensing in May
Tanzania announced on Thursday that it would launch its fifth round of oil and gas licensing in May, in which 26 explorations blocks will be auctioned to attract new investment to the hydrocarbon sector in east Africa. Charles Sangweni of the Petroleum Upstream Regulatory Authority in Tanzania (PURA), the director general, said that 23 blocks are located offshore in the Indian Ocean, while three others are in Lake Tanganyika. This will be the first round of oil and gas licenses in Tanzania for more than 10 years.
ADNOC signs LNG supply contract with Japan's Osaka Gas
Abu Dhabi National Oil Company announced on Thursday that it had signed an agreement for 15 years to supply Japan’s Osaka Gas liquefied gas from the Ruwais Project. The agreement to supply LNG up to 0.8 mtpa is the fourth contract signed for the Ruwais LNG Project, where energy giants Shell, BP TotalEnergies, and Japan's Mitsui all have a 10% share. ADNOC stated in a press release that the LNG will primarily come from the Ruwais LNG Project, which is due to be completed in 2028.
Tanzania hopes to complete talks on LNG project by June
Tanzania has begun discussions with investors about tax incentives for a project that is stalled to build a $42 billion plant of liquefied gas in the country. Energy Minister Doto Biteko announced this on Tuesday. He added the talks might be concluded by June. The mega-gas project in Tanzania is operated by Equinor, Shell, Pavilion Energy, Medco Energi, and Tanzania's National Oil Company TPDC. Proposed government changes to an agreement reached in financial 2023 have slowed down the development.
Austrian OMV and ADNOC are interested in acquiring Nova Chemicals
Austria's OMV, and Abu Dhabi National Oil Company's (ADNOC), said that they were considering a joint-venture to purchase Canada's Nova Chemicals, if the owner of Nova Chemicals, Abu Dhabi's sovereign wealth fund Mubadala agrees. According to a press release, the proposed acquisition would create an international polyolefins group that would include Nova Chemicals Borealis, and Borouge. ADNOC and OMV are in discussions since 2023 regarding a merger between Borouge and Borealis.
Shell downplays Namibia's oil discovery as a blow to the country
Shell has written down $400 million in oil discoveries offshore Namibia, which it considered commercially unviable. This is a major blow to Namibia's attempts to become a crude-producing country. Shell, its partners QatarEnergy, and Namibia's National Oil Company discovered hydrocarbons in block PEL39 2022. This discovery along with a second TotalEnergies in a block nearby sparked colossal global interest in this southern African nation that has no oil or gas production.
Arcius Energy, a joint venture between BP and ADNOC’s XRG, will supply Egypt's gas.
BP and Abu Dhabi National Oil Company’s international investment arm XRG announced on Monday that they had closed a deal to create a natural gas joint-venture in Egypt. ADNOC is expanding its efforts abroad. Arcius Energy is a joint venture owned by BP (51%), and XRG (49%). The joint venture will initially operate in Egypt. Naser Saif Al Yafei is a former ADNOC executive who was appointed as Arcius CEO. Most recently, he was responsible for strategy, sustainability, and transformation in ADNOC Gas.
ADNOC, the state oil company of UAE, has established an international investment arm XRG
ADNOC, the state-owned oil company of the United Arab Emirates, announced on Wednesday that it had launched XRG. This investment firm focuses on low-carbon energy sources and chemicals. It is valued at over $80 billion. When it starts operating in 2025's first quarter, the company will focus initially on "transformational global investments". This is according to a statement from its parent Abu Dhabi National Oil Company. ADNOC made a series of acquisitions, including in the gas and chemical industries.
Al Nowais, according to Italy's Maire, has bought 5% of Nextchem in order to target the Middle East
It was reported by Italy's Maire on Wednesday that Yousef Al Nowais bought a 5% share in Nextchem. This valued the subsidiary of the engineering company at $1.33 billion. Al Nowais is one of the company's shareholders and has owned a stake of 4.73% for more than 10 years. He paid 62.5 millions euros for 5% in Nextchem which provides technology solutions for companies working on energy transition. The move was made to boost Nextchem's service in the Middle East.
Pemex's Deer Park refinery reduces operations following fatal accident
The Deer Park refinery of the Mexican national oil company Pemex, near Houston, will be operating at a reduced level this weekend following a deadly leak two days ago. The state-owned oil company added that it continues to investigate the cause of last Thursday's hydrogen sulfide gas leak that killed two contract workers while injuring 35 others during work on a unit at the 312,500-barrel-per-day (bpd) refinery. Mexico's Energy Minister said that she expects the facility to resume normal operations by the end of Friday.
Pemex reports two deaths and five injuries from an oil leakage at a refinery in Texas
Two people were believed to have died and five were being treated for injuries on Thursday after a chemical release at Pemex's 312,500-barrels-per-day Deer Park oil refinery in Texas, the Mexican national oil company said. According to two anonymous sources familiar with the refinery's operations, a contractor who worked there is believed to be the one responsible for opening a hydrogen sulfide line. The gas was deadly and the worker died after being exposed to it.
Masdar, a UAE-based company, buys Brookfield Saeta in a $1.4 billion deal
The United Arab Emirates renewable energy company Masdar announced on Tuesday that it had reached an agreement with Canada's Brookfields to purchase green energy firm Saeta Yield in a $1.4 billion deal. Masdar will acquire 745 megawatts in Spain and Portugal (mostly wind assets) and 1.6 gigawatts in projects in development. This is one of the biggest deals of this kind in the Iberian Region. It is Masdar’s second major green energy deal to be signed in Spain in the last few months…
Uganda announces it will issue new oil exploration licenses in the next fiscal year
The finance minister announced on Wednesday that Uganda will issue new oil exploration licenses during the fiscal year 2025/2026, which runs from July to June. This is to boost investment in the sector as well as the overall economic growth. Early last year, the last licensing round for this east African nation launched in 2019 ended. The country awarded the final two blocks of the five offered. He said that in order to achieve greater investments and growth overall, the government will issue more exploration licenses.
ADNOC will supply Indian Oil with LNG over a 15-year period
Abu Dhabi Media Office announced on Monday that the Abu Dhabi National Oil Company had agreed to a 15-year contract with Indian Oil for 1 million metric tonnes of liquefied gas per year. Government media said that the LNG will mostly come from ADNOC Ruwais LNG Project. ADNOC is a company with big ambitions. It has big plans for gas and LNG. Along with renewable energy, petrochemicals, and petrochemicals, it considers these as the pillars of its future growth.
Santos' new CFO shines spotlight on succession in top jobs
The Australian energy giant Santos announced on Thursday that Sherry Duhe, a former Woodside and Newcrest executive, has been appointed as its chief financial officer. This announcement comes amid heightened market speculation regarding a possible change in the top position. Duhe will replace Anthea McKinnell as chief financial officers. McKinnell leaves Santos after more than half a century. Kevin Gallagher, CEO of Santos in 2021…
Exxon and Abu Dhabi's ADNOC will partner in the delayed Texas hydrogen project
The Abu Dhabi National Oil Company will purchase a 35% stake in Exxon Mobil Corp.'s low-carbon hydrogen project proposed in Texas. Both companies announced a one-year delay in the start-up until 2029. ADNOC's investments show a confidence in the multi-billion-dollar project, which Exxon had threatened to abandon if the U.S. Government restricted tax credits. The final investment decision was pushed back to 2025 from 2024. Exxon-ADNOC refused to reveal the value of the deal.
