B Investments sells its entire stake in TotalEnergies Egypt to Adnoc
B Investments exits TotalEnergies Egypt: BPE Partners’ B Investments has agreed to sell its entire 6.38% stake in TotalEnergies Egypt to TotalEnergies Marketing Afique (TEMA) for USD 27.6 mn, the company said in a statement. This came alongside a separate BPE Partners-backed vehicle’s exit of its 9% stake to TEMA for USD 39 mn, handing TEMA […]
Fertiglobe, Scatec, Orascom, Sovereign Fund of Egypt start commissioning of “Egypt Green”, Africa’s first integrated green hydrogen plant, during UN Climate summit
Today marks the start of the commissioning of the first phase of the green hydrogen plant in Ain Sokhna, Egypt, during an event at COP27 attended by Egyptian President, Abdel Fattah El-Sisi and the Norwegian Prime Minister, Jonas Gahr Støre. The facility is the first integrated green hydrogen plant in Africa, and when fully developed […]
Saudi’s Petromin Corp enters the bidding race for Wataniya Petroleum
The bidding war for the army’s Wataniya Petroleum is heating up: Saudi industrial oils giant Petromin is throwing its hat in the ring in what’s shaping up into a bidding war for Wataniya Petroleum, Bloomberg reports, quoting sources familiar with the matter. The company will compete with each of Qalaa Holdings’ Taqa Arabia, Dubai’s state-owned […]
Abu Dhabi’s Sovereign Wealth Fund joins Adnoc in Wataniya bid
Abu Dhabi’s sovereign wealth fund ADQ is joining forces with Abu Dhabi National Oil Company (Adnoc) in its takeover bid for military owned Wataniya Petroleum, with the aim of making a stronger offer for the company, the local press reports, citing unnamed sources. Adnoc was reportedly in the process of appointing advisors last month, and […]
Adnoc, Taqa Arabia in the running for a stake in Wataniya Petroleum
Adnoc, Taqa Arabia in the running for Wataniya: A number of investors at home and abroad have expressed interest in acquiring a majority stake in the military-owned oil distribution company Wataniya Petroleum, Bloomberg reported on Thursday. Buyer #1: State-owned Abu Dhabi National Oil Company (Adnoc), which produces most of the UAE’s oil, is interested in […]
ADNOC Distribution looking to expand into Egypt, North Africa – COO
ADNOC Distribution eyeing entry into Egyptian market? Emirati fuel retailer ADNOC Distribution is looking at Egypt as a potential market for its planned expansion out of the UAE, COO Mohammad Al Hashimi tells Bloomberg TV (watch, runtime: 7:15). Al Hashimi said that he sees Egypt as a “great market” with “massive growth,” positive macro indicators, […]
El Molla talks investment in Egypt with Heads of UAE Oil Companies at WEC
Oil Minister Tarek El Molla met yesterday with Emirati Minister of State and CEO of the Abu Dhabi National Oil Company (ADNOC) Sultan Al Jaber to talk investing in Egypt’s oil and gas sector, according to a Ministry statement. El Molla also discussed the ongoing cooperation in airplane refueling in Egyptian airports with Emirates National […]
Egypt’s PM discusses oil & gas cooperation with ADNOC chief
Egypt’s Prime Minister Sherif Ismail met yesterday with the head of the Abu Dhabi National Oil Company (ADNOC) Sultan Jaber, according to a Cabinet statement. The two discussed oil and gas cooperation, as well as increasing Emirati investments in Egypt’s oil refining, petrochemicals, and LNG sectors. (Source: Enterprise.press)
Eni sells 10% stake in Zohr to UAE's Mubadala for $934 million
Eni sells 10 percent of Egypt’s Shorouk concession to Mubadala Petroleum. Italian oil company Eni said on Sunday it would sell a 10 percent stake in the Shorouk concession in Egypt’s Zohr gas field to Mubadala Petroleum of the United Arab Emirates for $934 million. Eni currently holds through its subsidiary IEOC a 60 percent stake […]
Oil and Gas Professionals Unlock Challenges and Opportunities at ADIPEC 2017
• Technical Industry Panel Discussions Provide Roadmap for a Rapidly Changing Energy Landscape. • ADIPEC Brings Together Over 10,000 Industry Professionals, Thought Leaders and Technical Experts to Drive Oil and Gas Industry Agenda. Transformation, diversification and evolution will be top keywords at the world’s leading annual conference for oil and gas professionals, the Abu Dhabi International Petroleum […]
