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The Latest Breaking News from ADNOC

Oil flows through Strait of Hormuz won’t return to normal until next year even if war ended tomorrow, warns energy boss

Disruption to exports through the waterway has sparked fears of a global economic crisis

The Independent UK

New UAE oil pipeline bypassing Hormuz 50% complete ahead of 2027 start

Iran, which has attacked vessels to assert control over the Strait, has expanded its definition of the waterway to include the UAE's Gulf of Oman coastline. The U.S. has imposed its own blockade on Iranian ports and attempted an aborted operation to reopen the chokepoint.

The Economic Times

UAE's main gas complex to resume full capacity next year after attacks

Dubai's major gas processing complex, a global giant, faces a delayed return to full capacity until 2027 following Middle East conflict. Operator ADNOC Gas reported a 15% income drop due to regional instability and market challenges, with the Strait of Hormuz blockade expected to cost millions. Full restoration is anticipated…

The Economic Times

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Dubai residents take shelter as UAE intercepts Iranian missile and drone strike

Euronews journalists reported hearing explosions from air defence intercepts above Dubai after a missile alert on Monday, as the UAE said Iran struck an ADNOC-linked tanker in the Strait of Hormuz.

Euronews

The UAE’s OPEC exit signals strategic shift as Gulf unity faces new test over oil policy

The UAE's exit from OPEC signals a strategic shift, raising questions about Gulf coordination and the organisation's future.

Euronews

Tehran accused of ‘weaponising’ Hormuz as oil gains ahead of US-Iran talks

Abu Dhabi’s oil chief says nearly 230 vessels sit loaded with crude and ready to sail

The Independent UK

Weaponising Strait of Hormuz is 'economic terrorism': UAE minister warns of global fallout

Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC) said on Monday that weaponising the Strait of Hormuz is an act of 'economic terrorism' while highlighting the global consequences that affect far…

The Times of India

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The UAE’s Energy Playbook Is Paying Off Amid Global Turmoil

As global energy markets enter an unprecedented crisis, the world’s attention instinctively turns to the largest traditional producers

inkl

Hungary's MOL to buy Serbia's Russia-owned NIS oil company if US approves

Hungary’s MOL Group energy company said on Monday they have signed a preliminary agreement to buy a 56.15% stake in Serbia’s Russia-owned main oil supplier that has been sanctioned by the United States

The Independent UK

UAE president chairs ADNOC board meeting as company backs €130bn investment plan

The focus is on scaling production, reserves, and investment over the next five years as ADNOC deepens its role in global oil and gas markets.

Euronews

Shell Secures 15-Year LNG Deal With UAE's ADNOC

Shell PLC (NYSE:SHEL) shares are trading lower on Tuesday. The company’s subsidiary, Shell International Trading Middle East Limited FZE, penned a 15-year deal with Abu Dhabi National Oil Company (ADNOC).

Benzinga

Australian Market Struggles With Closing Top Deals

Australia’s inability to close top MA deals is becoming a growing frustration. The collapse of Abu Dhabi National Oil Company’s (ADNOC) $18.7 billion takeover bid for Santos (OTCPK: SSLZY) (the nation’s biggest supplier of natural gas) earlier this month is just the latest example. Valuation disputes, regulatory hurdles, and unexpected…

Benzinga

Is selling off Santos to a foreign buyer in Australia’s national interest? First, define national interest

The prospect of handing control of the energy company to overseas buyers has raised a series of concerns. But many of them are nebulous

The Guardian - AU

Australia wants more foreign investment. That’s why a $29 billion bid for Santos puts the Treasurer in a tricky position

The Australian origins of Santos have made an indelible mark on the company’s very name. The energy giant was first incorporated in 1954 under the acronym for “South Australia Northern Territory Oil Search”. It was publicly listed on the Adelaide Stock Exchange that same year.

The Conversation

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The Guardian - UK

How ‘out of touch’ Tony Blair became a serious threat to climate action

Even before his call for a net zero ‘reset’, there had been criticism of ex-PM’s lucrative links with fossil fuel nations

Euronews

Tesla’s fall in Europe will only hand the keys to Beijing

With the US, the UK and much of Europe ramping up incentives for domestic production, no wonder China is scrambling to maintain its competitive edge, Saman Rizwan writes.

The Guardian - UK

Revealed: ‘extremely concerning’ industry influence over UN aviation body

Exclusive: Firms outnumber green groups at environmental talks, with related events sponsored by fossil fuel companies

StockNews.com

3 Energy Stocks With Unmatched Dividend Potential

Robust global demand and restrained supplies will support oil prices in the future, propelling the energy sector’s growth prospects. Given the industry tailwinds, solid energy stocks Energy Transfer (ET), Weatherford International (WFRD), and Shell (SHEL) could be ideal additions to your portfolio for reliable dividends. Read more.

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StockNews.com

3 Undervalued Energy Stocks With Room to Rally

As the global energy landscape evolves, the combination of favorable commodity pricing and increasing energy demand rallies energy stocks. Given this backdrop, it might be wise to consider investing in three undervalued energy stocks: Weatherford International (WFRD), VAALCO Energy. (EGY), and Matrix Service Co (MTRX) for long-term growth. Read on….

StockNews.com

3 Undervalued Oil Stocks to Close out 2024 With Momentum

The oil sector looks poised to grow due to steady growth in oil and natural gas consumption forecasted. Therefore, it could be wise to explore investments in robust oil stocks such as Obsidian Energy (OBE), Weatherford International (WFRD), and Energy Transfer (ET). Keep reading….

StockNews.com

3 Energy Stocks With Low PE Ratios and High Dividends

Energy market is still robust as prices remain elevated amid geopolitical issues and steady demand. Therefore, investors could consider investing in low P/E energy stocks Enterprise Products Partners (EPD), Energy Transfer (ET), and Weatherford International (WFRD), which also offer high dividends. Read more.

The Guardian - UK

Cop29 host Azerbaijan set for major fossil gas expansion, report says

Exclusive: Those with ‘interest in keeping world hooked on fossil fuels’ should not oversee climate talks, say report authors

International Business Times

UAE Oil Giant ADNOC Swoops On German Chemicals Firm Covestro

German chemicals group Covestro said Tuesday it had accepted a takeover bid from UAE state energy company ADNOC, as one of the key sectors in Europe's largest economy is gripped by crisis.

The Guardian - UK

Abu Dhabi state oil company reportedly looked at buying BP

Adnoc decided move was not right fit but it is latest sign of foreign buyers circling UK firms

The Hindu

India to build first commercial crude oil strategic storage

India, the world’s third biggest oil consumer and importer, plans to build its first commercial crude oil strategic storage as part of efforts to shore up stockpiles as insurance against any supply disruption.

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