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German energy company Wintershall reported that the government of the United Arab Emirates had given it an approval for the development of the Gash gas field for 40 years. The gas field is located near the coast of the Persian Gulf. Thus, the German company now owns a 10 percent stake in the development concession. In addition to Wintershall, Italian company Eni with a 25% stake is a partner of state-owned oil company UAE ADNOC. According to ADNOS estimates, by the middle of 2028, 1.5 billion cubic feet of gas and 120,000 barrels of oil and condensate will be extracted per day at the gas field.
Alibaba Group Holding Ltd's (BABA) co-founder Jack Ma sold $8.2 billion worth of shares, reducing his stake in the company over the past year from 6.2% to 4.8%. The Chinese e-commerce company released its annual report on Friday. The divestment ...
Berkshire Hathaway Inc.’s (BRK.A, BRK.B) Chief Executive Officer Warren Buffett announced on Monday that its energy unit agreed to purchase the natural gas transmission and storage assets of utility company Dominion Energy Inc. (D.N) ...
Russian oil and gas condensate production dropped to 9.39 barrels per day (bpd) in May, nearing its target in accordance to a deal with the Organization of the Petroleum Exporting Countries (OPEC+). The figures come from the country’s ...
SoftBank Group Corp. (SFTBY) announced on Thursday morning that it plans to sell 5% of its stake in SoftBank Corp., a separately listed Japanese wireless mobile company. The move would raise 310.2 billion Yen ($2.9 billion) through securities ...
U.S. Natural gas has been set as the most expensive energy commodity for the first time in more than a decade as the COVID-19 pandemic continues to disrupt demand in other regions. U.S. Gas futures gained up to 10% to $1.815 per million BTU ...
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