SK On, SK Innovation’s battery subsidiary, reported its first-ever quarterly profits in the third quarter of this year after years of operating losses since its spinoff in 2021. During its earnings conference call on Monday, the battery maker reported an operating profit of 24 billion won ($17.4 million) in the July-September period, a significant turnaround from last year’s 86.1 billion won deficit, largely driven by inventory clearance and enhanced cost structure. Its sales fell

MANAMA, Bahrain, Nov. 4, 2024 /PRNewswire/ -- At Gateway Gulf 2024, an investment forum hosted by the Bahrain Economic Development Board (Bahrain EDB), Aluminium Bahrain B.S.C. (Alba) and Daiki Aluminium Industry Company Ltd. reaffirmed their strategic partnership by announcing their intention to form a joint venture 'Alba-Daiki Sustainable Solutions (ADSS)' which will establish a cutting-edge, sustainable aluminium dross processing facility in the Kingdom of Bahrain. At Gateway

RIYADH, Saudi Arabia, Nov. 3, 2024 /PRNewswire/ -- The Future Investment Initiative (FII) Institute wrapped up Day 3 of its 8th annual gathering in Riyadh, with an "Investment Day" under the theme of "Infinite Horizons: Investing Today, Shaping Tomorrow." Leaders, investors, and innovators explored avenues to drive impactful investment in emerging markets, venture capital, and sustainable growth strategies, setting the stage for the future of global finance and economic

SK Innovation and SK E&S, both part of South Korea’s SK Group, officially completed their merger Friday, forming the largest privately owned integrated energy company in the Asia-Pacific region, with a combined asset value of 105 trillion won (around $76.1 billion). What does the merger mean for SK Innovation? With SK E&S now folded into SK Innovation, the newly merged company can tap into an expanded portfolio that includes oil, chemicals, liquefied natural gas, power generati

South Korea's state-run oil company said Thursday it has signed an agreement with Kuwait Petroleum Corporation to store 4 million barrels of oil from the Middle Eastern country that can be accessed in case of a global energy crisis, adding to Seoul's efforts to secure a stable supply of energy sources. Under the agreement, the Korea National Oil Corp. (KNOC) will store the barrels in the southeastern industrial city of Ulsan, where they can be supplied domestically when needed. "A

HONG KONG, Oct. 31, 2024 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces that Mero3 Project has commenced production safely. Mero field is located in the Santos Basin pre-salt southeastern offshore Brazil, about 180 kilometers away from Rio de Janeiro, in a water depth of between 1,800 and 2,100 meters. Mero3 Project will be developed by the traditional deep-water Pre-salt development mode, FPSO+Subse

MANAMA, Bahrain, Oct. 31, 2024 /PRNewswire/ -- Global industry leaders will converge in Bahrain for the highly anticipated second edition of the Gateway Gulf Investment Forum, scheduled to take place on November 3-4, 2024, at the Four Seasons Hotel Bahrain Bay. Hosted by the Bahrain Economic Development Board (Bahrain EDB) with the support of senior government officials across the Kingdom's finance, investment and industry portfolio, the forum will tackle global challenges and trends under the b

Saudi Arabia is on Wednesday expected to open the first meeting of a new "international alliance" to press for the establishment of a Palestinian state, state media said. The "International Alliance to Implement the Two-State Solution" was unveiled last month on the sidelines of the UN General Assembly, Saudi state media reported at the time, bringing together Arab and Islamic countries and European countries. This week's meeting in Riyadh is expected to last for two day

Next Show Dates Announced Sept 2 to 4, 2025 KUALA LUMPUR, Malaysia, Oct. 30, 2024 /PRNewswire/ -- Oil and Gas Asia (OGA), the largest oil, gas, energy and petrochemicals trade show in Southeast Asia, achieved unprecedented success at its recent 2024 edition with record-breaking attendance to mark its 20TH edition anniversary. OIL AND GAS ASIA 2024 HITS NEW HEIGHTS WITH RECORD ATTENDANCE AT 20th ANNIVERSARY EDITION Themed "Powering Progress Towards a Sustainable Energy Lan

HONG KONG, Oct. 30, 2024 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces its wholly owned subsidiary, CNOOC Africa Holding Ltd., has entered into the Exploration, Development & Production Contract (EDPC) with Midland Oil Company (Md.O.C) for Block 7 in the Republic of Iraq. The contract was signed for Block 7, which is mainly located in Province Diwaniyah, with an area of 6,300 square kilomet

BALI, Indonesia, Oct. 29, 2024 /PRNewswire/ -- Nestled deep within Ubud's tranquil jungle, The Kayon Jungle Resort is the ultimate romantic hideaway for couples seeking luxury, privacy, and nature's embrace. This secluded 5-star resort offers an intimate sanctuary where love and luxury meet, perfect for honeymooners, anniversary celebrations, or romantic getaways. Every detail at The Kayon Jungle Resort is thoughtfully designed to create unforgettable memories for couples looking to reconne

BANGKOK, Thailand, Oct. 29, 2024 /PRNewswire/ -- TotalEnergies ENEOS has successfully completed the installation of a 1.8 megawatt-peak (MWp) floating solar photovoltaic (PV) system project in Thailand with S. Kijchai Enterprise, a Thailand-based manufacturer of wood-based panels. This is the second PV system that TotalEnergies ENEOS has installed for the company within 4 years and the first floating solar PV system for TotalEnergies ENEOS in Asia Pacific. With over 3,000 modules installed,

Hankook Tire announced on Tuesday that it has incorporated three types of carbon black, a byproduct of the combustion of various petroleum products, into tire production as part of its efforts to create a circular economy. Last year, Hankook Tire launched the Tire-to-Tire Circular Economy Model consortium together with HD Hyundai Oilbank and HD Hyundai OCI to upcycle waste tires and develop carbon black. HD Hyundai Oilbank sources recovered carbon and pyrolysis oil, or bio-oil, from end-of-life

President Yoon Suk Yeol said Tuesday that North Korea's troop deployment in Russia constituted security threats to both South Korea and the world, denouncing what he calls "illegal" military cooperation between Pyongyang and Moscow. Yoon made the remark during a Cabinet meeting amid North Korea's deployment of its troops in western Russia, with all signs suggesting that the North's troops may soon be ready for battlefield deployment against Ukraine forces. "This ill

HONG KONG, Oct. 28, 2024 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) today announces its operating results for the third quarter of 2024. In the first three quarters of 2024, CNOOC Limited continued to increase its reserves and production, while effectively controlling costs and enhancing efficiency. Net production and net profit rose remarkably year over year ("YoY"), both hitting record highs fo