Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

UK’s Petrofac gets over $600 million carbon capture contract from ADNOC Gas

UK’s Petrofac gets over $600 million carbon capture contract from ADNOC Gas

(Reuters) -UK oil services firm Petrofac said on Tuesday it got a more than $600 million contract from ADNOC Gas for the Habshan carbon capture and storage (CCS) project, as the Abu Dhabi-based company steps up its decarbonisation plan.

Energy producers globally have identified CCS as key to cutting emissions without scaling back oil and gas output, and have started to invest in such technology at a time countries around the world are increasingly pushing towards cleaner fuels.

CCS technology removes carbon dioxide produced by industrial processes from the atmosphere, or captures it at the point of emission, and stores it underground.

The engineering, procurement and construction contract from ADNOC Gas would be a boost for Jersey-based Petrofac, which in August posted a half-yearly loss, hurt by subdued activity at its largest unit of engineering and construction.

The ADNOC contract involves delivery of carbon capture units, associated pipeline infrastructure and a network of wells for carbon dioxide recovery and injection, the London-listed company said in a statement.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Nivedita Bhattacharjee, Dhanya Ann Thoppl and Sharon Singleton)


Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post