Richard A. Calleri

NMDC Energy Makes Historic Market Debut with UAE’s Biggest IPO of 2024 On Wednesday, NMDC Energy, a unit of NMDC Group, officially listed its shares on the Abu Dhabi Exchange (ADX), raising around Dh3.22 billion in the UAE’s largest IPO of the year. Despite an initial 9% dip, the closing price of Dh3.02 still represents an impressive 8% gain on the IPO offer price of Dh2.80. The offering, which saw a 31.3 times oversubscription, raised Dh88 billion in investment and reflects the confidence the market has in NMDC Energy’s future. This moment marks a significant step forward for the company, with a strong foundation in engineering, procurement, and construction services for the energy sector. While short-term volatility due to market conditions affected the share price, experts maintain that the long-term outlook remains strong, particularly as demand for oil and gas continues to fuel growth in the region. The listing is a testament to Abu Dhabi’s vision and NMDC Energy’s ambitious plans for the future. We are excited to see how NMDC Energy shapes the sector and continues to grow! #NMDC #Energy #IPO #ADX #BusinessGrowth #Investment #UAE #AbuDhabi #OilAndGas #Engineering #Procurement #Construction

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OQEP appoints United Securities as liquidity provider ahead of listing MUSCAT: OQ Exploration and Production (OQEP), Oman’s largest pure-play oil and gas exploration and production company and the nation’s only wholly government-owned upstream operator, has announced the appointment of United Securities LLC as the Liquidity Provider for its upcoming listing on the Muscat Stock Exchange (MSX). This appointment comes as OQEP undertakes Oman’s largest-ever initial public offering (IPO), aiming to list its ordinary shares later this month. Read more: https://lnkd.in/dqarJvP8 OQ Exploration & Production United Securities LLC Muscat Stock Exchange S.A.O.C @Financial Services Authority #OQEP #MSX #IPO #Oman #OmanBiz

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https://lnkd.in/dy8GGxYA Very proud of this important milestone in Chemanol’s history. The diversification of the company’s product mix away from commodities type products and pricing is the only sustainable way forward and is our strategy since joining the company 2 and a half years ago. This is the first time that this has happened since the company’s creation over 3 decades ago. We have a healthy pipeline of projects that are being developed at different stages. I congratulate the shareholders, board members and the #chemanol team for this important achievement! Saudi Vision 2030 - Ministry of Energy - Ministry of Industry and Mineral Resources - Ministry of Investment - INVEST SAUDI - Royal Commission for Jubail and Yanbu - Jubail and Yanbu Industrial Cities Services Company (JABEEN) - Oil Sustainability Program (OSP) برنامج استدامة الطلب على البترول - Energy Capital Group - برنامج جودة الحياة | Quality of Life Program - Visit Saudi - Local Content And Government Procurement Authority - iktvaAramco - iktva - aramco - Saudi Tadawul Group - Capital Market Authority - Synergy Consulting, Inc. - Saudi Aramco Total Refining and Petrochemical Company (SATORP) - TotalEnergies - Watar Partners - Pinnacle Capital

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Don’t miss the invaluable insights from energy experts from Masdar (Abu Dhabi Future Energy Company), HSBC, Morgan Stanley, Payne Instiute and Colorado School of Mines during the ADIPEC Finance & Investment Conference session on ‘What is the future of climate finance?’. Evaluate the state of the energy transition and explore how industry leaders are navigating and mobilising the capital flows and investment needed to achieve a successful transition at the pace and scale society expects. The energy transition represents an unprecedented investment opportunity, with governments, energy companies, and financial institutions tasked with providing the capital to decarbonise the energy ecosystem. The Finance & Investment Conference will offer a platform for experts across finance, energy, and policy to activate the finance and investment needed to fast-track the global energy transition. Book your delegate pass at https://bit.ly/4dbKM3o Mazin Khan, Zoë Knight, Martijn Rats, Morgan Bazilian #ADIPEC #ADNOC #Finance #Investment #Decarbonisation #EnergyTransformation #LowCarbon 

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I am honored to invite you to visit the Alive Capital LinkedIn page to read about our achievements that are the pillars for the future. Thank you to everyone who has supported us along the way, and a special thanks to my dedicated team for their hard work and to Energy Industry Review for the excellent article. 🔗 Visit Alive Capital's LinkedIn page to see our latest update. #AliveCapital #EnergyManagement #RenewableEnergy #EnergyIndustryReview

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According to Dr. Fereidun Fesharaki, Founder and Chairman of FGE, crude oil prices are expected to increase to $85-87 per barrel in the near future. The strong demand for crude oil is projected to persist for the remainder of the year. The fundamentals of crude oil remain robust during this period. Although there are ongoing issues in the Middle East, the impact on supply is minimal. The adoption of electric vehicles in China has been highly effective, and the demand for Chinese oil continues to grow. Currently, gas prices are also strong. Dr. Fesharaki shares his views in an interview with ET NOW #Oil #Crude #MiddleEast #China

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BP abandons goal to cut oil output, resets strategy BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, according to three sources. BP’s strategy was unveiled in 2020, with a pledge to cut output by 40% and growing renewables rapidly by 2030. BP then scaled back in February last year to a 25% reduction. This would leave it producing 2 million barrels per day at the end of the decade, as investors focused on near-term returns rather than the energy transition. BP had invested billions low-carbon businesses and sharply reduced its oil and gas exploration team since 2020. But supply chain issues and sharp increases in costs and interest rates have put further pressure on the profitability of many renewables businesses. The company is now targeting several new investments in the Middle East and the Gulf of Mexico to boost its oil and gas output, sources said. This includes three new projects in Iraq: in the Majnoon field, and an existing project in the giant Rumaila oilfield. BP also recently signed an agreement to explore the Kirkuk oilfield, which they say will also include power plants and solar capacity. Despite these clear lack of commitment to cutting output the company continues to target net zero emissions by 2050. A BP spokesperson said: “The direction is the same – but we are going to deliver as a simpler, more focused, and higher value company”. BP rival Shell has also slowed down its energy transition strategy since CEO Wael Sawan took office in January, selling power and renewable businesses and scaling back projects including offshore wind, biofuels and hydrogen. The shift at both these companies produces a worrying pattern for climate action. #climateaction #bigoil #climatefinance #ESG

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BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP's strategy was the sector's most ambitious with a pledge to cut output by 40% while rapidly growing renewables by 2030. BP scaled back the target in February last year to a 25% reduction, which would leave it producing 2 million barrels per day at the end of the decade, as investors focused on near-term returns rather than the energy transition.

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UAE’s NMDC Group said on Friday that the initial public offering (IPO) of its subsidiary, NMDC Energy, has been oversubscribed within hours of the first day of its subscription period, as investors rushed to snap up shares in what is expected to be the UAE’s biggest listing this year. The construction and dredging services firm is offering 1.15 billion shares at an offer price of Dhs2.8 apiece. The group seeks to raise $877m through the IPO. “Strong early investor interest in the NMDC Energy IPO sends a clear message about confidence in both the solid fundamentals and significant growth potential of the business. This IPO will support the expansion of NMDC Energy, accelerate innovation and deliver long-term value to shareholders,” said Yasser Zaghloul, group CEO of NMDC. NMDC is offering the shares in two tranches — institutional investors and retail investors – between August 30 and September 4, with trading debut scheduled for September 11, 2024 on the Abu Dhabi Securities Exchange. The company’s IPO drew Al Ataa Investment as a cornerstone investor, which agreed to buy 142.5 million shares, representing approximately 12.39 per cent of the offering. First, Abu Dhabi Bank is the lead manager for the sale, with Abu Dhabi Commercial Bank, WIO Bank, and Al Maryah Community Bank acting as receiving banks. NMDC Group | Abu Dhabi Securities Exchange | #IPO | #AbuDhabi

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After hearing oil producers complain that energy security always focused on supply issues, I thought to address the demand side of the equation. This is the paper I gave at last year's IAEE conference in Riyadh. https://lnkd.in/dyTtfHm5

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𝙎𝙖𝙪𝙙𝙞 𝘼𝙧𝙖𝙢𝙘𝙤'𝙨 𝙎𝙩𝙧𝙖𝙩𝙚𝙜𝙞𝙘 𝙋𝙖𝙧𝙩𝙣𝙚𝙧𝙨𝙝𝙞𝙥𝙨 𝙞𝙣 𝙩𝙝𝙚 𝙂𝙡𝙤𝙗𝙖𝙡 𝙇𝙉𝙂 𝙈𝙖𝙧𝙠𝙚𝙩 🔹 Strategic Expansion: Saudi aramco continues strengthening its presence in the global #LNG market through strategic #partnerships with leading international companies. 🔹 Key Companies: ✔️ MidOcean Energy: Aramco has signed definitive agreements to acquire a strategic minority stake in MidOcean Energy for $500 million. MidOcean, founded and managed by EIG Global Energy Partners, is currently acquiring interests in four Australian LNG projects for $2.15 billion, aiming to build a diversified global LNG business. This strategic partnership marks Aramco's first international LNG investment and extends its collaboration with EIG. ✔️ Peru LNG: Represents a significant investment for MidOcean Energy, who manages the first LNG export facility in South America. ✔️ SK Earthon: Acquired a 20% stake in Peru LNG. ✔️ Tokyo Gas: Part of MidOcean’s acquisition of Australian LNG projects. ✔️ Mitsubishi Corporation: Collaborated with MidOcean to establish a high-quality integrated LNG company. 🔹 Management Statements: During the Q1 2024 earnings call, Aramco's CFO stated that the company has taken initial steps in this area, saying, "𝙏𝙝𝙞𝙨 𝙞𝙨 𝙖 𝙫𝙚𝙧𝙮 𝙨𝙢𝙖𝙡𝙡 𝙨𝙩𝙚𝙥 𝙨𝙤 𝙛𝙖𝙧. 𝙒𝙚 𝙖𝙧𝙚 𝙡𝙤𝙤𝙠𝙞𝙣𝙜 𝙩𝙤 𝙞𝙣𝙘𝙧𝙚𝙖𝙨𝙚 𝙩𝙝𝙖𝙩... 𝙞𝙣𝙘𝙧𝙚𝙖𝙨𝙚 𝙩𝙝𝙚 𝙨𝙞𝙯𝙚, 𝙨𝙥𝙚𝙘𝙞𝙛𝙞𝙘𝙖𝙡𝙡𝙮 𝙞𝙣𝙘𝙧𝙚𝙖𝙨𝙚 𝙩𝙝𝙚 𝙗𝙪𝙮𝙞𝙣𝙜 𝙨𝙞𝙯𝙚, 𝙗𝙪𝙞𝙡𝙙𝙞𝙣𝙜 𝙤𝙪𝙧 𝙇𝙉𝙂 𝙩𝙧𝙖𝙙𝙞𝙣𝙜 𝙘𝙖𝙥𝙖𝙗𝙞𝙡𝙞𝙩𝙮... 𝙖𝙣𝙙 𝙬𝙚 𝙗𝙚𝙡𝙞𝙚𝙫𝙚 𝙩𝙝𝙞𝙨 𝙧𝙚𝙥𝙧𝙚𝙨𝙚𝙣𝙩𝙨 𝙖 𝙨𝙞𝙜𝙣𝙞𝙛𝙞𝙘𝙖𝙣𝙩 𝙫𝙖𝙡𝙪𝙚 𝙘𝙧𝙚𝙖𝙩𝙞𝙤𝙣 𝙤𝙥𝙥𝙤𝙧𝙩𝙪𝙣𝙞𝙩𝙮 𝙛𝙤𝙧 𝙪𝙨." 🔹 Goals and Vision: 🔅 Aramco aims to increase #gas production by 50% over 2021 by 2030. This expansion will meet domestic energy demands and support the production of blue hydrogen and ammonia, crucial to the Kingdom's long-term energy strategy. Aramco has emphasized that increased gas output will be used domestically to replace crude oil in electricity generation, freeing up oil for export, with no current plans to convert this output into LNG within Saudi Arabia. 🔅 The company is engaged in international discussions, particularly in the US and Australia, to further its LNG ventures, including ongoing talks about investing in the second phase of Sempra Infrastructure’s Port Arthur LNG project in Texas. 🔹 Global Ambition: These moves highlight Aramco's ambition to become a significant player in the global LNG market, strategically positioning itself to benefit from the growing global demand for cleaner energy sources while aligning with international energy market dynamics. #Aramco #LNG #Investments #CleanEnergy #EIG_Global_Energy_Partners #MidOceanEnergy #PeruLNG #SKEarthon #TokyoGas #MitsubishiCorporation

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Check out the latest Tank Tiger Blog analyzing the impact of Middle East tensions on the oil markets. #WTI Read the full article here: https://lnkd.in/ej54nBtm

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”That oil markets have not preemptively priced in rising Middle East tensions says a lot about expectations for decelerating global demand, OPEC+ plans to up supply, the continued impact of US shale, and more.” S&P Global Daniel Yergin joined @SquawkCNBC today to discuss the state of the energy sector, impact of Mideast tensions on oil supplies, and more. Watch now: https://okt.to/8I2OWG #CERAWeek

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The Federal Government, led by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, signed consolidated guidelines for fiscal incentives in the oil and gas sector. The guidelines aim to deliver a competitive Internal Rate of Return (IRR) for Oil & Gas Projects and attract over $10 billion in new investments within the next 12-18 months. This initiative follows President Bola Ahmed Tinubu's recent directive to revitalise the Nigerian oil and gas sector. The Special Adviser to the President on Energy, Mrs Olu Verheijen, highlighted that the guidelines were developed through extensive collaboration across finance and petroleum ministries, and involving key regulatory bodies. Read the full article here: https://lnkd.in/eJbru5bQ These measures underscore Nigeria’s commitment to reaching its long-term oil production target of 4 million barrels per day while enhancing gas supply reliability to boost export earnings and fuel industrialisation. Government representatives and industry leaders will converge at NOG Energy Week 2024 to deliberate on the guidelines and potential results. For more information about NOG Energy Week 2024, visit https://lnkd.in/gSDnrQB8 #NOG2024 #NOGEnergyWeek2024 #NOGEnergyWeek #Nigeria #Energy #WestAfrica #dmgevents #dmgNigeriaevents #dmgNigeria

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https://lnkd.in/e9UayAin Interesting to see the Chevron and ExxonMobil poking around in #shale #naturalgas in Algeria. The geology is definitely favorable but will need to see on the above-ground conditions and the economics. In the early days of shale all the majors were staking out international positions. Outside of Argentina and China those dreams generally faded due to a range of factors including above ground risk, service capacity and access to markets - all of which ultimately added costs. But modern shale wells look very different than they did even 5 years ago, with longer laterals, more accurate landing of horizontals, fracking of multiple wells at once and large-scale water recycling. And some see a brighter future for gas in Europe as it looks to back out more Russian volumes (even if it is taking more LNG). It will be interesting to see if the US majors can make Algeria work.

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Libya’s Ministry of Oil & Gas has announced plans for a new oil and gas licensing round, set for early 2025, targeting onshore and offshore areas in the Sirte, Murzuq, and Ghadames basins. The goal is to increase production to 1.6 million barrels per day by the end of 2025. 🔗Explore Further: https://hubs.la/Q02ZMszG0 The licensing round is aimed to stabilize Libya's economy, attract international investment, and address infrastructure challenges. Join us at the Libya Energy & Economic Summit (LEES) in Tripoli, taking place from 18-19 January 2025, a premier international forum for private sector investment that will showcase opportunities for international energy companies to produce resources in libya's key basins. 📖 Download the program: https://hubs.la/Q02ZMrFb0 📩 Book your seat now: https://hubs.la/Q02ZMrf_0 #LEES2025 #Libya #Investment #OilandGas #RenewableEnergy #GlobalEnergyTrade #Licensing #Production #Development #Revitalization #EconomicGrowth #Hydrocarbon #Onshore #Offshore

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AEW 2024 Launches Upstream O&G Forum Amid African LNG Market Expansion Africa’s upstream #oil and #gas sector is attracting substantial investments, with an $800-billion capital expenditure program focusing on #LNG alongside traditional deep-water oil projects currently underway. This investment cycle is expected to boost Africa’s #LNG production capacity at a time when global gas demand is on the rise. Responding to this environment, African Energy Week (#AEW) 2024 will host a two-day Upstream Exploration & Production (E&P) Forum spotlighting Africa’s LNG prospects. The forum will feature a series of strategic sessions and presentations, highlighting major LNG and floating LNG (FLNG) developments and investment opportunities shaping the sector. Read more here: https://lnkd.in/eYW8V6zv

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