UAE’s IHC eyes overseas operations of Russia’s Lukoil amid US sanctions

UAE’s IHC eyes overseas assets of Russia’s Lukoil

Lukoil has been hit by sanctions introduced last month on both it and Rosneft

Adnoc's XRG clears all hurdles for Covestro buy

Abu Dhabi oil giant's Dh246-per-share offer in 2024 valued Covestro at Dh47.6 billion

A guest looks at her phone as she stands at the booth of the Abu Dhabi National Oil Company (ADNOC), during the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) in Abu Dhabi on November 3, 2025.

Petrofac sacks 200 UAE staff, payout fears grow

UAE engineers talk to Gulf News about rushed layoffs and unpaid EOSB

Petrofac’s restructuring plans collapsed after a key contract was terminated.

Oil falls on Ukraine peace plan

WTI drops for third session toward $58 a barrel; Brent closes near $63 on Thursday

If there is progress on a peace deal in Ukraine and sanctions against Russia are removed, that would add more supply to a market facing a large surplus next year.

Trump plans massive expansion of offshore oil drilling

US set to offer 34 lease sales, allowing for drilling in an area the size of the Amazon

Boats pull an oil boom behind them as they skim the oil from the surface near where the Deepwater Horizon oil platform sank as work continues to contain the leak on May 9, 2010 in the Gulf of Mexico.

Why India seeks tankers for Mideast oil

Sanctions on Russian producers force India to seek alternatives

A crude oil tanker. Roughly a dozen vessels have been chartered to ship crude to India from countries including Saudi Arabia, Kuwait, Iraq and the United Arab Emirates and ferry it across the Arabian Sea, according to shipbroker reports.

Aramco signs 17 new US deals worth over $30 billion

Deals build on 34 MoUs, agreements announced in May, which had total value of $90 billion

Saudi Aramco signs 17 new deals worth over $30 billion with US companies

Pakistan to build an island to boost oil exploration

Construction will be completed in February, and operation will start immediately after

The artificial island will come up about 30 kilometres off the coast of the southern Sindh province.

Oil falls on signs Russia’s port resumes operations

Two tankers moored Sunday at Novorossiysk indicate operational activity at the terminals

Tankers mooring at Novorossiysk, a Black Sea Port, suggest operational activity.

DP World starts ops at Tartus Port under $800m plan

New harbour tug, Al Fath, arrives, appoints Fahad Al Banna as CEO of DP World Tartus

DP World begins operations at Tartus Port under $800 million modernisation plan

Dana Gas to assess key gas fields in Syria

Deal with Syrian Petroleum Company aims to boost domestic gas output and power recovery

Under the MoU, Dana Gas will conduct a detailed technical assessment of the identified fields and prepare a development plan aimed at increasing national gas production.

1,020MW hydro project to boost Bhutan's supply by 40%

Milestone: Project to significantly enhance country's power generation capacity

PM Modi, Bhutan King inaugurate Punatsangchhu-II Hydropower Project (Photo/X@MEAIndia)

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