Oil and Gas News Magazine - December 2024

In this issue

ENERGY GOES GREEN

COP29: RICH FAIL TO WALK THE TALK ON CLIMATE FUNDS

Carbon markets deal ray of hope amidst complexities

Arab Group stood by fossil fuel at summit

EVEN before the final declaration in Baku, the 22-member Arab Group had made it clear it won't accept any text at COP29 that pushed for transitioning away from fossil fuel, media reports said.

1 min

COP29: RICH FAIL TO WALK THE TALK ON CLIMATE FUNDS

At the close of the 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, the world's negotiators failed to meet the expectations of developing nations, leaving many disappointed over the commitment made by developed countries towards climate finance.

2 mins

KEY CLIMATE ACHIEVEMENTS AMID GLOBAL CHALLENGES

COP29 makes strides on carbon markets, transparency, and adaptation, though climate funding, the centrepiece of agreements that deliver progress across all climate pillars, remains a major hurdle

4 mins

Carbon markets deal ray of hope amidst complexities

A landmark deal was reached by leaders at COP29 on carbon credit trading, establishing new rules for how countries can trade emissions reductions and create funding opportunities to combat climate change.

3 mins

First Biennial Transparency Reports a milestone

COP29 has marked a significant milestone in global climate transparency with the first submissions of Biennial Transparency Reports (BTRS) under the Paris Agreement.

2 mins

Sulzer Chemtech advances CC, efficiency technologies

Sulzer Chemtech leads in mass transfer solutions to reduce CO2 emissions, improve energy efficiency, and drive innovation in sustainable energy solutions across various industrial sectors, Dr Rafic Traboulssi tells OGN

4 mins

CCS makes notable progress but frameworks still lacking

A comprehensive policy approach, including incentives and stronger regulatory frameworks, is essential to overcome challenges and accelerate CCS deployment, says a global report

5 mins

MEA renewable energy growth drives demand for grid flexibility

As renewable energy capacity grows, the region will require significant upgrades to existing energy infrastructure to ensure reliability, stability, and resilience in the face of new energy needs

5 mins

Pioneering sustainable fertiliser transition

Stamicarbon is developing new technologies to address global food demand by enhancing agricultural productivity and reducing environmental impact, focusing on fossil-free feedstock alternatives in the nitrogen fertiliser industry, Deepak Shetty tells OGN

5 mins

KSA sets benchmark for sustainability in Mideast

Through strategic investments, innovative technologies, and a focus on green infrastructure, the Kingdom is building a future that is both economically diversified and environmentally sustainable, says a report

5 mins

A new chapter in the GCC for gas analytical market

The joint venture combines Kanoo Energy's in-depth regional knowledge with Adage Automation's technological expertise to make significant contributions to the gas analytics sector

2 mins

Midland methane leaks dubbed 'super emitters'

The detection of more than 50 methane leaks in the region underscores the environmental challenges that come with large-scale production, says Momentick

3 mins

Oil States launches world-first low impact workover package

The LIWP is specifically engineered to empower operators to safely and cost-effectively plug and abandon aging subsea wells while minimising wellhead loads and streamlining operations

1 min

Carbon capture tech critical to boost Mideast climate action

Carbon capture solutions could be a key factor for climate action efforts and could significantly contribute to the Middle East's decarbonisation goals and help fast-track progress, Matt Spalding tells OGN

3 mins

Thermal energy impacts finance, sustainability

UNLEASHING the green power of geothermal energy is a dream rapidly coming true thanks to its promise to deliver on-demand power and heat 24/7.

2 mins

GEODE bridging gap between oil & gas and geothermal

Collaboration between oil and gas, and geothermal industries is essential for meeting clean energy demands, with GEODE accelerating geothermal technology development to become a key component of the future energy landscape, Karine Kleinhaus tells OGN

3 mins

Italian firms to remain aligned with UAE's energy goals

Italian companies are at the forefront of sustainable innovation in the energy sector, and we see a clear alignment between Italy's approach and the UAE's sustainability goals, Valerio Soldani tells OGN

5 mins

Achieving cyber resilience in the oil and gas industry

The rising threat of cyberattacks and data breaches requires industry operators to implement comprehensive, long-term strategies using all available technologies, with focus on system lifecycle and supply chain management, Steven Kenny tells OGN

4 mins

CMAG to unlock Africa's critical minerals potential

THE Critical Minerals Africa Group (CMAG) has been launched by global leaders in the critical minerals industry to unlock Africa's full potential in the critical minerals sector.

1 min

Africa has 45pc global clean energy potential

IN a speech at the 29th Conference of the Parties (COP 29), Dr Akinwumi Adesina, President and Chairman of the Boards of Directors of the African Development Bank Group, highlighted Africa's vast natural capital.

1 min

Africa MDBs need 2.4pc for methane funding

A study by AfriCatalyst on the role of multiAn lateral development banks (MDBs) in supporting methane reduction initiatives in Africa reveals that MDBs would need to allocate just 2.4 per cent of their assets to meet the $48 billion annual funding requirement for reducing methane emissions by 2030.

1 min

Ghana positions itself as Africa's LNG hub

GHANA has emerged as -a globally competitive oil and gas market due to policy reforms and regulatory changes.

1 min

Adipec facilitates over $10bn deals

MORE than $10 billion in deals were facilitated at the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) 2024, underscoring its significance in the energy sector.

2 mins

Adnoc launches work on low-carbon Ruwais LNG

ADNOC, the Abu Dhabi National Oil Company, has announced the launch of its low-carbon Ruwais liquefied natural gas (LNG) project in the AI Dhafra Region.

1 min

Aramco, Rongsheng in deal for Sasref expansion

SAUDI oil giant Aramco has anSA nounced that it has, along with its key affiliate Saudi Aramco Jubail ReCompany finery (Sasref) signed a development framework agreement with Chinese group Rongsheng Petrochemical at a special event in Beijing that paves the way for expansion of a vital Sasref faclity in Jubail.

1 min

ITA expands decarbonisation efforts in Bahrain, UAE

THE Industrial Transition Accelerator (ITA) has announced partnerships with the governments of the UAE and Bahrain to expand its efforts in industrial decarbonisation across the Middle East and North Africa (Mena) region.

1 min

TotalEnergies installs methane devices

AS part of its ambition to aim for near-zero methane emissions by 2030, TotalEnergies announces that the company is going a step further in the monitoring and reduction of its methane emissions with the deployment of continuous, real-time detection equipment at all of its operated Upstream sites.

1 min

India, donor countries abandon energy transition partnership

INDIA will not proceed with the Just Energy Transition Partnership (JETP) initially discussed with donor countries like the US and Germany, aimed at aiding its transition from fossil fuels, particularly coal.

1 min

Singapore allocates $74 million for green marine energy

SINGAPORE'S of S State, Alvin Tan, announced a SGD$100 million ($74 million) government investment to boost green growth in the marine and offshore energy sector over the next five years at OSEA 2024. The three-day tradeshow attracted over 500 exhibitors and 15,000+ attendees from 100 countries.

1 min

More countries declare support for plans to triple nuclear power

AT the COP29 UN climate change conference in Baku, Azerbaijan, six additional countries El Salvador, Kazakhstan, Kenya, Kosovo, Nigeria, and Turkey have joined the call to triple global nuclear energy capacity by 2050, reported World Nuclear News.

2 mins

AMETEK launches quartz microbalance analyser

AMETEK Process Instruments has introduced its next-generation quartz crystal microbalance (QCM) moisture analyser, the 3050OLV, a modern update to a product with over 25 years of reliability and performance.

1 min

New Emerson solution reduces energy costs

EMERSON has introduced its Energy Manager solution, a pre-engineered hardware and software offering designed to simplify industrial electricity monitoring.

1 min

Clariant catalysts to help cut emissions at Hengli's plant

CLARIANT, a sustainability-focused chemical company, has installed its EnviCat N2O-S catalyst at Hengli Petrochemical's nitric acid plant in Dalian, China.

1 min

WEG launches W80 AXgen motor

WEG, a global leader in motor manufacturing, has launched the W80 AXgen electric motor, designed for Original Equipment Manufacturers (OEMs).

1 min

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The definitive news source for the energy markets of the Middle East with a unique global perspective OGN provides authoritative information, OGN magazine is dedicated to deliver the latest news on industry developments in carbon and non-carbon sources of energy, contract information and support for business development strategies for companies concerned with the energy sector. The Platform provides authoritative information, business intelligence, country reports and quality analysis for covering all aspects of the upstream, midstream and downstream sectors across the Middle East Region.