Acquisition of ConocoPhillips’ northern Australia business with operating interests in Darwin LNG, Bayu-Undan, Barossa and Poseidon for US$1.39 billion plus a $75 million contingent payment subject to FID on Barossa

"As we convene today, short term energy demand has continued to soften in response to current downside risks in the global economy. However, over the medium and long-term, the outlook remains positive, solid, and robust. By 2040, three times the amount of energy consumed by all of Europe will be added to global energy demand. In the face of current economic headwinds, we need to control costs, while staying focused on capital efficiency and targeted long-term investment," Dr. Al Jaber noted.

The Abu Dhabi National Oil Company (ADNOC) announced, today, the award of multi-billion-dollar contracts for the procurement of casing and tubing as it drives value through its smart approach to procurement. The combined scope of the three contracts awarded is one of the world’s largest in this category, maximizing value for ADNOC across its drilling value chain and underpinning its strategy to deliver a more profitable upstream business.

The new cost estimate of $60 billion for the refinery was given to Saudi Arabia’s energy minister Khalid al-Falih at a meeting with Indian Oil Minister Dharmendra Pradhan last month in New Delhi, said the four sources familiar with the talks between the two ministers.

ADNOC Distribution today reported that its first-half 2019 net profit increased by 4.3 percent, to AED1.173 billion, compared with the same period last year.

Eni and ADNOC announced that they have closed their strategic partnership, announced in January, through which Eni acquired a 20% equity interest in ADNOC refining. The final cash price is approximately $3.24bn. The partners, which include Austria’s OMV, also set up a new trading joint venture.

ConocoPhillips (NYSE: COP) reported second-quarter 2019 earnings of $1.6 billion, or $1.40 per share, compared with second-quarter 2018 earnings of $1.6 billion, or $1.39 per share.

Russian oil giant Lukoil plans to acquire a 5 percent stake in the Ghasha offshore gas project in the UAE, according to CEO Vagit Alekperov.

ADNOC and CNOOC signed an agreement to collaborate in the upstream and downstream oil and gas sector

ADNOC has signed an agreement with Indonesia's state energy company Pertamina to collaborate in both countries and internationally. Indonesia' foreign ministry said that the partnership could be worth up to $2.5bn.