SOCAR has released new data on oil and gas reserves in Azerbaijan

The brand value of ADNOC, the national company of the UAE, has reached $18.9 billion. According to Brand Finance, ADNOC is considered the fastest-growing brand in the global oil and gas sector and the second-fastest growing brand among Middle Eastern companies.

British oil and gas company Shell reduced its adjusted profit in the fourth quarter of 2024 by 39% compared to the previous quarter, below analysts’ expectations. According to a press release, the profit in Q4 was $3.66 billion, compared to $6.03 billion in the previous quarter. The company’s consensus forecast was $4.1 billion. Adjusted EBITDA decreased to $14.28 billion from $16.01 billion in the previous quarter.

Gas reserves in Europe’s underground storage facilities (UGS) fell below 55.5% as of January 27, according to data from Gas Infrastructure Europe (GIE). However, the gas volumes in storage remain the fourth-highest ever recorded for January. Since the start of the heating season, the EU has withdrawn approximately 47 bcm of gas from UGS. The total gas storage volume currently stands at 61.5 bcm.

At the beginning of this week, the European Commission announced the continuation of negotiations with Kyiv regarding the supply of gas to Europe via Ukraine, adding that it intends to involve Hungary and Slovakia in these talks.