WorldOil Dramatic meetings leave OPEC+ in relationship-mending mode Differences between the Saudis and the UAE prevented the cartel from reaching a clear agreement on whether to delay a planned production increase. Traditionally stalwart allies, a fissure has emerged between the two Persian Gulf exporters as Abu Dhabi pursues a more independent oil policy. ADNOC considering purchase of key UAE offshore oilfield services firm Abu Dhabi National Oil Co. is a potential contender to buy a local offshore oil-services firm that counts the state-owned crude producer among its major clients, according to people familiar with the matter. ADNOC taps China’s BGP for world’s largest 3D onshore/offshore seismic survey project The award underscores the important role seismic surveying plays in enabling ADNOC to identify and explore new hydrocarbon resources as highlighted by the recent major discoveries of recoverable unconventional oil resources and conventional oil reserves. ADNOC commits $122 billion to boost oil and gas output Officials in Abu Dhabi privately floated the idea last week that the nation could leave OPEC, a highly unusual step that could destabilize oil markets. Energy Minister Suhail Al-Mazrouei later said the UAE “has always been a committed member,” though he didn’t address the country’s future in the cartel. UAE builds tension within OPEC over oil production caps Discord within OPEC has grown since late summer, when the UAE breached its quotas and got a stern warning from Saudi Arabia. Emirati policy makers seem increasingly frustrated by what they see as an unfair allocation of production caps, as their economy reels from falling oil revenue and the coronavirus pandemic. ADNOC inks long-term LNG deal with world’s largest independent trader “These agreements demonstrate the market’s growing confidence in demand for natural gas. LNG is a fuel that can support the transition to clean energy, especially in many Asian markets where switching to gas will result in significant environmental gains," said Fatema Al Nuaimi, CEO of ADNOC LNG. ADNOC and TOTAL deliver first unconventional gas from the UAE This achievement marks a significant milestone towards future full field development and is an important step towards ADNOC’s target of producing 1 billion scfd of gas from the concession before 2030, ultimately enabling gas self-sufficiency for the UAE. UAE’s TAQA to allow foreigners to buy stock for the first time Abu Dhabi National Energy Co., as Taqa is formally known, will let outsiders hold 49% of its shares effective immediately, the board said in a statement on Tuesday. OPEC’s Saudi, UAE ministers discuss output deal adjustments “With the consensus of everybody, we could navigate with this agreement and tweak this agreement, subject to what we may see in the future,” Saudi Energy Minister Prince Abdulaziz Bin Salman said at a virtual session of the Abu Dhabi International Exhibition and Conference on Monday. ADNOC pursues onshore field operations efficiencies with $324 million contract ADNOC Onshore, a subsidiary of ADNOC, awarded the three contracts which will see the procurement and construction of flowlines and wellhead installations across several onshore oil fields in the Emirate of Abu Dhabi.