The sale, valued at $1.28 billion, was previously declined by the regulator last year, but there's now renewed hope that it can proceed, a move considered vital for attracting much-needed investment into Nigeria's oil and gas sector.

The move aligns with the UAE's broader vision to leverage its hydrocarbon wealth while reducing its dependence on fossil fuels.

The enhanced liquidity positions Jadestone favorably as it prepares for the commencement of its Akatara gas project.

In a statement ahead of the United Nations COP28 climate talks in Dubai, Sultan al-Jaber, the Emirati president-designate, appealed to oil and gas companies to be at the forefront of climate solutions.

BASF, in its pursuit of exiting its energy business Wintershall Dea, has drawn interest from companies such as TotalEnergies and Equinor for the oil and gas unit, according to a report in the German newspaper Handelsblatt.

Eni believes that this discovery could be tied to the Bontang LNG facilities on the coast of East Kalimantan, further optimizing its ullage capacity.

This project, known as Yggdrasil, aims to provide a stable and environmentally friendly power supply with low emissions.

While the development of recent offshore gas discoveries at Gorgon, Uchuva, and Orca has been identified as crucial, several uncertainties and hurdles need to be addressed, according to energy industry intelligence group Wood Mackenzie.

Under a significant contract, TechnipFMC will supply flexible pipes for pre-salt fields offshore Brazil. This includes the design, engineering, and manufacture of 14 kilometers of gas injection riser pipes and the provision of associated services, such as packing and storage.

 Equinor and Ithaca Energy's decision to proceed with the Rosebank deepwater oilfield project in the West of Shetland basin could pave the way for the approval of more fields, according to a report by Wood Mackenzie.