WorldOil OPEC ministers see a path to more oil output increases OPEC and its allies can likely continue reviving oil production, two key Middle East members said as the group prepares to consider its next supply hike. ADNOC to raise $750MM from drilling unit IPO Abu Dhabi National Oil Co. is seeking to raise about $750 million from its drilling unit’s IPO, in what would rank among one of the largest share sales in the United Arab Emirates. ADNOC forms strategic alliance with rig builder Helmerich and Payne ADNOC Drilling will acquire eight FlexRig land rigs from HandP for $86.5 million, after which HandP will make a $100 million cornerstone investment into ADNOC Drilling’s recently announced initial public offering. Abu Dhabi’s Taqa looks to sell UK, Dutch oil and gas assets Taqa wants to divest itself of at least 17 fields plus stakes in the Sullom Voe shipping terminal, and the Brent and SAGE pipelines in the UK In a separate sales process, it is offering 32 Dutch oil and gas licenses, of which five are directly operated by the company. Pakistan invests $305 million to explore for oil in UAE’s Persian Gulf The award extends the scope of energy cooperation between the UAE and Pakistan, which imports about 100,000 barrels of Emirati oil a day. Abu Dhabi sovereign fund Mubadala Investment Co. owns a stake in a refinery in Pakistan. UAE agrees on OPEC oil production hikes, with deal-breaking conditions The United Arab Emirates said it won’t accept a plan by other members of OPEC+ to extend the group’s agreement to curb oil production beyond April 2022, unless it’s allowed to have a higher baseline for its own cuts. OPEC’s latest standoff puts the oil cartel’s survival at risk A high-stakes game of oil diplomacy pits Saudi Arabia against long-time ally Abu Dhabi. And the result of their fight will shape not just the price of oil for the next year, but the future of the global energy industry. UAE debates OPEC-leading net zero 2050 goals The United Arab Emirates could become the first nation among the Organization of the Petroleum Exporting Countries to set a net-zero goal, a move that would please Western countries pushing for stronger climate commitments but won't require it to sell less oil. China joins consortium taking a 49% equity stake in Aramco Oil Pipelines Co. China’s Silk Road Fund and Hassana Investment Co., controlled by the Saudi Arabian government, joined a group investing $12.4 billion in Saudi Aramco’s oil pipelines. Saudis, Dubai and UAE’s ADNOC grapple for joint ownership of Egypt’s Wataniya Petroleum Whichever company wins would partner with Egypt’s sovereign wealth fund in taking joint full ownership of Wataniya Petroleum, a fuel distribution firm that has more than 200 filling stations and is run by the North African nation’s military.