Adnoc

HPCL inks $3 billion LNG deal with UAE's Adnoc Gas during president's visit

Hindustan Petroleum Corporation Ltd (HPCL) has signed a USD 3 billion deal to buy liquefied natural gas from the Abu Dhabi National Oil Company Gas (ADNOC Gas), making it the UAE's top customer, the firm said. The two firms signed a Sales and Purchase Agreement (SPA) during a very brief two-hour visit to India by UAE President Sheikh Mohammed bin Zayed Al Nahyan for talks with Prime Minister Narendra Modi on Monday. Abu Dhabi's state firm will supply 0.5 million tonnes of LNG a year to HPCL for 10 years starting 2028. "This agreement converts a previously signed Heads of Agreement between the two companies into a long-term SPA and is valued at approximately USD 2.5-3 billion over its (10 year) duration, for the export of 0.5 million tonnes per annum (mtpa) of liquefied natural gas (LNG)," ADNOC Gas said in a statement. HPCL said it will receive the LNG at its 5 million tonnes per annum LNG import terminal at Chhara, Gujarat. "The supplies under this agreement will support HPCL in

Abu Dhabi's Adnoc makes $19-billion takeover bid for LNG producer Santos

Adnoc's investment arm XRG PJSC joins peers including Saudi Aramco in targeting LNG, tapping the potential of one of the fastest-growing fossil fuel markets

Indian Oil Corp inks 14-year LNG supply pact worth $7-9 bn with UAE's ADNOC

Indian Oil Corporation (IOC), the nation's largest oil firm, has signed a USD 7-9 billion deal to import LNG from UAE on a long-term 14-year contract. IOC signed a long-term deal to receive 1.2 million tonnes per year of LNG from the United Arab Emirates beginning 2026 for 14 years. "ADNOC Gas has signed a 14-year sales and purchase agreement with Indian Oil Corporation Ltd (IOC) for the export of up to 1.2 million tonnes per annum (mtpa) of Liquefied Natural Gas (LNG) to India's largest integrated and diversified energy company which will be supplied from Das Island liquefaction facility," ADNOC Gas said in a statement. The deal was signed on the sidelines of India Energy Week here. "The agreement, valued in the range of USD 7 billion to USD 9 billion over its 14-year term signifies a major step forward in the partnership with IOC and we look forward to supporting India's plans to make gas 15 per cent of its primary energy basket by 2030," it added. The deal with IOC is the secon

Adnoc to buy chemical producer Covestro for €12 bn in its biggest deal

The takeover will value the German company at €62 per share and hinges on the Abu Dhabi oil producer receiving at least 50 per cent plus one share in its tender offer

ADNOC agrees to supply Indian Oil with 1 MMT LNG per year for 15 years

ADNOC has big ambitions in gas and LNG, which along with renewable energy and petrochemicals it sees as pillars for its future growth, putting it in competition with regional rivals Qatar

No decision yet on ADNOC LNG project tie-up after Nikkei report: Mitsui

Other oil majors Shell, BP and Total Energies are also expected to invest, the report said

BP, ADNOC suspend $2 bn deal to acquire 50% stake in Israel's NewMed

NewMed said all parties had agreed to pause negotiations, although Abu Dhabi National Oil Co (ADNOC) and BP have reaffirmed their interest in the deal

ADNOC's $30 bn chemicals deal with Austria's OMV stalls over disagreements

"We are in ongoing and open-ended negotiations and cannot comment further," OMV said in a statement

UAE state oil firm moves up its net zero emissions climate target to 2045

A state-run oil giant in the United Arab Emirates said on Monday it has moved up its target for achieving net zero emissions in its operations to 2045, as the country prepares to host UN climate talks later this year. The Abu Dhabi National Oil Company, known as ADNOC, said it is also committed to acheiving zero methane emissions by 2030. Methane is a greenhouse gas that is 80 times more potent than carbon dioxide in the short term. Earlier this year, ADNOC earmarked USD 15 billion for an array of green initiatives, including the development of hydrogen power, carbon capture facilities and the planting of mangroves. The company had previously committed to net zero the balancing of greenhouse gas emissions to the point that the amount removed from the atmosphere is equal to the amount emitted by 2050. The UAE, an OPEC member that produces over 3 million barrels of crude oil a day, will host the global climate talks known as COP28 from November 30 to December 12 in Dubai. It has

Indian Oil signs long term LNG import deals with ADNOC LNG, TotalEnergies

TotalEnergies would supply 0.8 million tpy LNG to IOC under the 10 year deal, it said. TotalEnergies would supply LNG to IOC from its global portfolio

ADNOC Gas signs three-year LNG supply agreement with TotalEnergies

Under the terms of the agreement, through its subsidiary, ADNOC Gas will supply TotalEnergies LNG, which will be delivered to various export markets around the world

Centre mulls building several refineries, not one UAE-Saudi plant

"The role of Maharashtra government is crucial in acquiring the land," the source said

India may split planned mega refinery into several refineries: Reports

Delays in acquiring a 15,000-acre land parcel have almost stalled the project, initially planned for 2025, and boosted costs by 36% to $60 billion, as per estimates made in 2019

Emergency bid: GAIL inks agreement with ADNOC to secure LNG supply

Officials said the agreement represents a reworking of India's gas sourcing strategy as the country aims to aggressively source LNG from a wider list of nations

Reliance Industries inks pact for $2-bn UAE deal; in talks with ADNOC

RIL derives over 60 per cent of its revenue and nearly 55 per cent of its operating profit from its oil-to-chemicals (O2C) business

Reliance inks pact for UAE chemical project; in talks with ADNOC

TA'ZIZ is joint venture between Abu Dhabi National Oil Co (ADNOC) and sovereign wealth fund ADQ

LIVE: Cremation of CDS Bipin Rawat, his wife to be held on Friday

CDS Gen Bipin Rawat, his wife Madhulika Rawat and 11 other persons on board have died in a chopper crash in Tamil Nadu on Wednesday

Abu Dhabi's ADNOC weighs IPO of logistics and services unit next year

A deal could follow after testing investor appetite and market conditions, sources said

ADNOC and Reliance Industries to set up petrochemical project in Abu Dhabi

Integrated plant will have a capacity to produce 940,000 tonnes of chlor-alkali, 1.1 million tonnes of ethylene dichloride and 360,000 tonnes of PVC annually

Aramco, Adnoc committed to $44 bn west coast refinery project: IOC Chairman

Saudi Aramco and Adnoc are still committed to investing in the planned $44 billion west coast refinery-cum-petrochemical project, the Chairman of the project's lead Indian partner said on Thursday