LNG

Abu Dhabi's sovereign wealth fund Mubadala Energy has backed Kimmeridge’s $13 billion Commonwealth LNG project in Louisiana with equity financing, enabling the project to reach financial close.

Saudi Arabian Oil Company (Aramco), the world’s largest seller of crude oil, reported that annual net income more than doubled to $110 billion and confirmed plans to boost natural gas output by 50 percent.

Italian energy company Eni signed an agreement for the sale of a 20 percent interest to Mubadala Petroleum from Eni’s share in the Nour North Sinai Offshore block after Mubadala had previously invested in the Zohr field that enabled the Egyptians to re-start LNG exports.