The announcement comes just ahead of a June 1 meeting in Vienna of the OPEC+ alliance
SABIC’s fall in net profit is attributed to lower revenues, lower results and losses from discontinued operations
The joint venture aims to explore, develop, and invest in wind projects in Bahrain, with a capacity of up to 2 gigawatts.
The deals bring the total hydrogen production in Oman to 1.38 million tonnes per year
The agreement on coal marks a significant step in the direction indicated last year by the COP28 United Nations climate summit to phase out fossil fuels
The fuel price committee increased the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 19 fils per litre in May
Statevolt will occupy a site spanning 60 hectares in RAKEZ, and is anticipated to generate up to 2,500 direct jobs
ADNOC has eyed acquisitions of foreign companies in part to help boost its gas portfolio
The potential deal aligns with the energy firm’s strategy to expand its downstream presence in key high-value markets
The treaty is meant to address plastics through their entire lifecycle – from when they are produced, to how they are used and then disposed of
The weakening signs in physical markets have been driven by peak refinery maintenance, extra supply from the US, and a recovery from outages at some producers
The geopolitical risk premium in oil prices had been unwinding this week on the perception that the US could ensure tensions were managed
The Abu Dhabi-listed firm said there was no guarantee a deal would happen and, if it were to, under what terms
Analysts said prolonged tensions through the second quarter this year have largely priced oil at $85-$90 per barrel
Meanwhile, OPEC also sees global economic growth of 2.8 per cent in 2024
The biomethane plant is expected to have a 28-million cubic meter capacity per crop and will be Atvos’ first one based on sugar cane wastes
Shell has said it believes gas and LNG will play a critical role in the energy transition by replacing more polluting coal in power plants
Investors will look to economic data and monetary policy for potential clues on the outlook for oil demand
While Asia’s crude demand is robust, the same can’t be said for its refinery margins, which have been squeezed by higher oil prices
BlackRock and KKR bought the stake for $4bn in 2019 in a landmark deal
OPEC+ members, led by Saudi Arabia and Russia, last month agreed to extend voluntary output cuts of 2.2 million barrels per day to support the market
According to reports, ENEC, owned by Abu Dhabi’s ADQ, has been holding talks to invest in the UK
Europe’s firm demand, softness in US supply growth coupled with a possible extension of OPEC+ cuts through 2024 outweigh downside risk from persistent softness in China’s demand
QatarEnergy has finalised a number of charter contracts with several Asian ship owners to bolster its shipping fleet by 19 LNG vessels
In the UAE, fuel prices have steadily risen month-on-month for Special 95, Super 98 and EPlus 91 in 2024 thus far
The petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Arab Gulf region
Over two million gallons of blended sustainable aviation fuel (SAF) will be delivered to Schiphol’s fuelling system throughout 2024
This year, international oil prices have been strong, with Brent holding above $80 a barrel
In a sign of how bullish investors were becoming most buying came from the creation of new long positions
Under the 15-year time-charter party agreements, Nakilat will charter out the vessels to affiliates of QatarEnergy, facilitating the seamless transportation of LNG to key destinations worldwide