Eni announces a significant gas and condensate discovery in Egypt, with the drilling of the Denise W 1 exploration well in the Temsah Concession, located offshore in the Eastern Mediterranean.
Oil prices rose on April 7 as a US deadline pressured Iran to reopen the Strait of Hormuz, with President Trump threatening attacks. Brent hit $111.21, WTI reached $114.73, reflecting heightened Middle East tensions.
Iraq could restore crude oil exports to around 3.4 million barrels per day within a week provided the Iran war ends and the Strait of Hormuz reopens, the head of the country’s state-run Basra Oil Company said.
Fluor Corporation signed a contract with X-energy to support an advanced nuclear project at Dow’s Seadrift site in Texas, initially delivering FEL-2 services covering planning, feasibility, cost control, and risk mitigation.
Adnoc Gas has confirmed shareholder approval of all agenda items at its Annual General Meeting including a record $3.584 billion dividend for 2025, with a final dividend of $896 million payable in May.
IEP Process Solutions, a leader in analytical solutions and a subsidiary of the Centena Group, has secured a multi-million-dirham contract to supply advanced analyser systems for a strategic utilities project supporting industrial operations in Abu Dhabi.
Arcius Energy, backed by BP and Adnoc’s XRG, approved a $500 million final investment decision to develop Egypt’s Harmattan gas field in the El Burg offshore concession, aiming to boost natural gas production for domestic demand.
Oil prices climbed on Monday as markets reacted to US President Donald Trump's threat of further action against Iran and set a Tuesday evening deadline linked to the reopening of the Strait of Hormuz.
The eight OPEC+ countries, namely the UAE, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, have announced an adjustment to oil production levels, reaffirming their joint commitment to supporting stability in global oil markets, said a report.
Senior UAE authorities have reported damage at a major plant of leading petrochemicals company Borouge located in Abu Dhabi after falling debris from an air defence interception ignited three fires, but no injuries were reported. Earlier, authorities said operations at the plant were suspended because of the blaze.
