Saudi Aramco, ADNOC in talks on LNG projects

Saudi Arabian Oil Co. (Saudi Aramco) and UAE’s Abu Dhabi National Oil Co. (ADNOC) are discussing investments in liquefied natural gas (LNG) projects in the United States. According to sources, Aramco is in talks to invest in phase two of Sempra Infrastructure’s Port Arthur LNG project in Texas, which would be an expansion of the

Startup company Amogy raises funding for zero emission shipping solutions

Amogy, an American startup focused on developing ammonia-powered ships, has raised $139m in funding in a round led by South Korean conglomerate SK Innovations. Other investors include Singapore’s state holding company Temasek, the corporate-venture arm of oil giant Saudi Aramco, plus the investment firms AP Ventures and DCVC. Japan’s Mitsui OSK Lines (MOL), one of

Saudi Aramco enters into refinery building contract with Sinopec

Sinopec has signed a deal with Saudi Aramco to build a Phase II 16 million-ton-a-year refining project. Sinopec has signed a framework agreement with Saudi Aramco to build a Phase II 16 million-ton-a-year refining project and 1.5 million-ton-year ethylene units in Gulei, Fujian. The project is expected to be completed and operating by the end

Yara teams up with Amogy for shipping projects

Yara Clean Ammonia has partnered up with US-based energy tech startup Amogy to explore the latter’s ammonia-to-power system as a zero-emissions solution for use in future shipping projects. The Amazon and Saudi Aramco-backed Amogy has developed a platform, already demonstrated in a drone and heavy-duty tractor, which relies on ammonia cracking technology in which hydrogen

Saudi Arabia transfers 4% of Aramco to wealth fund

Saudi Arabia has transferred 4% of the shares in state-controlled Saudi Aramco to the country’s sovereign wealth fund, the Public Investment Fund (PIF), the government said today, in a move aimed at supporting efforts to restructure the kingdom’s economy and diversify it away from oil. The transfer, which was announced by Saudi Crown Prince Mohammad

Saudi Aramco CEO warns of anxiety if investment in fossil fuels is cut sharply

Amin Nasser, CEO of Saudi Aramco, the world’s largest oil producer, urged world leaders on Monday to continue investing in fossil fuels that warm the world. The assumption that we can move to clean energy “evening” is “terribly flawed.” In a statement at the World Oil Conference in Houston, Texas, Nacelle said that moving to

Asia refiners to get full Saudi crude supplies in October

Saudi Aramco has notified at least seven buyers across Asia that it would supply full contractual volumes of crude oil in October, though none of them asked for additional supplies despite deep price cuts, sources with knowledge of the matter said on Monday. The full allocation comes as the Organization of the Petroleum Exporting Countries