SINGAPORE: China’s Sinopec, expected to be the next major Chinese buyer of US liquefied natural gas (LNG), is planning to review terms of a potential $16 billion supply deal with Cheniere Energy Inc after a sharp drop in LNG prices, industry officials said.
That could delay sign-off on a deal that would help Beijing meet ambitious targets it set for US energy purchases in a Phase 1 trade agreement it signed with the United States on Wednesday.
Sinopec, officially named China Petroleum & Chemical Corp,"...

The GCC’s renewable energy market, which grew nine-fold to $11 billion from 2008 to 2016, is set to grow exponentially in the next few years, two key forums at the the World Future Energy Summit (WFES) in Abu Dhabi heard.

The Energy Expo & Forum and the Solar Expo & Forum are running from January 13 to 16 at the WEFS.

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MUSCAT, JAN 15 – The current electricity pricing policy in the Gulf Cooperation Council (GCC) countries is unsustainable. Decades of subsidies have led to high consumption rates and wasted power, costing billions of dollars, according to a new study entitled ‘Electricity pricing reform: A bitter pill for GCC industries’, published by Strategy & Middle East, part of the PwC network. The region needs reform to achieve its ambitious industrialization agenda and have an economically viable electricity sector."...

The World Future Energy Summit, the Middle East’s largest future energy and sustainability event, opened today with tens of thousands of international attendees and hundreds of exhibitors driving new business deals, exchanging knowledge, and experiencing innovations.

Major business announcements have included the inauguration of the India Pavilion with its many"...

The 2020 edition and Saudi Arabia’s first International Petroleum Technology Conference (IPTC) opens today in Dhahran, participated by over 8,000 oil and gas professionals.

The conference will run under the theme ‘Vision to Prosperity: A New Energy Era Emerges’ till January 15 at the Dhahran Expo under the patronage of His Royal Highness Prince Mohammed"...

NEW YORK: Royal Dutch Shell Plc is looking to sell its oil refinery in Anacortes, Washington, according to three people familiar with the matter.
If completed, this and other asset sales currently under way would reduce Shell’s North American refining operations to large plants on the US Gulf Coast, said the people, speaking on condition of anonymity as the talks are private.
Oil and gas major Shell has publicly committed to selling more than $5 billion of assets per year in 2019 and 2020. The Netherlands-based"...

MUSCAT, JAN 8 – The first green service station, an environment-friendly initiative, was launched in Rusayl on Wednesday.
The innovative facility, which supports the national plans of alternative energy and sustainable development initiatives, is the latest in a long list of environmental preservation practices adopted by the Oman Oil Marketing Company (OOMCO).

The list comprises a range of unique eco-friendly features including solar"...

Tristar Group, a global integrated energy logistics company, has acquired more than 11,000 sq m of logistic land in the Port of Duqm in Oman.

The plot will have a 3,048-sq-m covered warehouse with a capacity of 5,000 pallet position and an open yard for future expansion. The logistics warehouse project will offer 3PL and 4PL services, the company said.

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Muscat: Oman's total production of crude oil and condensate in December 2019 reached 30,08 million barrels, with a daily average of 970,466 barrels, the monthly report published by the Ministry of Oil and Gas (MOG) shows.

The total exported quantities of Oman crude oil during December 2019 reached 28.56 million barrels, with a daily average of 921,325 barrels, the report further added.

Chinese imported volume of Oman's crude oil during the month, recorded 82.76 per cent of the total exports"...

MUSCAT, JAN 7 – A renewable energy development plan unveiled recently by the Oman Power and Water Procurement Company (OPWP) — the sole buyer of electricity in the Sultanate — envisions the procurement of 3,050 megawatts (MW) of renewables-based capacity by 2025, representing 16 per cent of total electricity output by this timeframe. This compares with a minimum 10 per cent share for renewables set by the Omani government by the 2025 milestone. Indeed, by 2030, renewable energy projects may account for roughly"...