China, UAE Sign Exploration, Refining Agreement
China National Offshore Oil Co (CNOOC) has signed an agreement with Abu Dhabi National Oil Co (ADNOC) on upstream exploration and development, oil refining and liquefied natural gas trade, ADNOC said on Monday.
The agreement was signed during a three-day state visit to China by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed, Reuters reported.
Under the agreement, the companies will share the latest know-how in developing ultra-acidic natural gas fields, according to ADNOC’s statement.
They will consider using CNOOC’s engineering arms, Offshore Oil Engineering Co Ltd and China Oilfield Services Ltd, as contractors for design, purchase and construction as well as oilfield service providers for ADNOC.
The two firms will also look at potential opportunities to work with both these companies on offshore oil and gas field assets in Abu Dhabi, the statement said.
They will look into working together on LNG marketing and purchasing.
In oil refining and petrochemicals, ADNOC will consider opportunities for investing in CNOOC’s existing refineries, and potential collaborations in new integrated refining and petrochemical assets in China, the statement said.
source: Financial Tribune
Top News
El Salvador sitting on $3 trillion worth of unmined gold, president says
Gold price could extend record run into 2025, Heraeus says
Trump tariff risk roils gold and silver as New York prices jump
Rio Tinto’s $2.5 billion lithium plan is a win for Milei
Copper price jumps on China policy, but we’ve been here before
Zimbabwe wants 26% free-carry stake in new mining projects
Glencore ties up with Cyclic Materials in copper recycling push
Lithium supply surplus set to stay with battery makers’ help
China tightens rules to curb methane emissions from coal mines
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Skeena advances Eskay Creek permitting, unlocks Orion funding
US foreign investment panel split on Nippon-US Steel deal
Norge Mining acquires Europe’s largest natural graphite producer
Australia’s CEFC invests $75m in homegrown critical minerals
Forensic technology aids Brazil’s crackdown on illicit Amazon gold trade
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
BHP seeks Brazil growth to emerge from shadow of mining disaster
Norilsk Nickel plans to sell all it produces in 2025
Gold price could extend record run into 2025, Heraeus says
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Skeena advances Eskay Creek permitting, unlocks Orion funding
US foreign investment panel split on Nippon-US Steel deal
Norge Mining acquires Europe’s largest natural graphite producer
Forensic technology aids Brazil’s crackdown on illicit Amazon gold trade
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
