Aramco Agrees to Acquire Valvoline’s Global Products Business

Saudi Aramco announced on Monday the signing of an equity purchase agreement to acquire Valvoline Inc. global products business (“Valvoline Global Products” or “VGP”) for US$2.65 billion.

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Eni confident it will replace Russian gas by 2025

Italian energy group Eni believes it will be able to completely replace Russian gas imports by 2025 as uncertainty over Moscow energy supplies to Europe forces countries to seek alternative sources.

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ADNOC Drilling lands $2bn in contracts

ADNOC Drilling has been awarded two substantial contracts totaling $2bn for the Hail and Ghasha development project in the United Arab Emirates (UAE).

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EU Countries Seek Deal on Weakened Plan to Cut Winter Gas Use

Europe faces a further gas squeeze this week, after Russian Gazprom said it would again slash flows through the Nord Stream 1 pipeline

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Sonatrach: Gas supplies to Spain temporarily suspended

The Spanish technical teams are working to carry out the necessary repairs and restore the gas supply to Spain as soon as possible

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Libya to increase oil production to 1.2mln bpd in two weeks - NOC

Current oil production is at 860,000 bpd, compared with 560,000 bpd before resuming production, NOC added

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Putin discusses oil market with Saudi crown prince who hosted Biden last week

The conversation took place six days after U.S. President Joe Biden visited the prince in Saudi Arabia - highlighting the kingdom importance to both Washington and Moscow at a time when Russia war in Ukraine is roiling global energy markets

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Mena Power Projects Forum to focus on $250bln worth of projects

The combined committed and planned investments in the Mena power sector will exceed a total of $250bln including $93bln committed and $157bln planned, according to a report by Arab Petroleum Investments Corporation

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