UAE LABOUR MOHRE HEALTH INSURANCE

UAE Cabinet meet: New structure for MoHRE, mandatory health insurance soon

Sheikh Mohammed chaired the Cabinet meeting which approves key decisions on enhancing the UAE’s labour market competitiveness

Aramco CEO: “We should abandon the fantasy of phasing out oil and gas”

Amin Nasser, CEO of Saudi Aramco, has made the remarks at the 2024 CERAWeek being hosted in Houston, Texas this week

Israel’s NewMed says BP, ADNOC offer on hold

BP and ADNOC made their offer a year ago, with an aim to access the gas-rich areas in the Eastern Mediterranean

Kuwait’s Q8 to buy 50% of Italian biodiesel producer EcoFox

Kuwait oil company Q8 to buy 50% of Italian biodiesel producer EcoFox

Q8 supplies aviation fuel to more than 70 international airports and holds stakes in three refineries in Italy, Vietnam and Oman

IEA raises oil demand outlook again but still lags OPEC

IEA raises oil demand outlook again but still lags OPEC

Brent crude oil rose as much as 80 cents a barrel towards $85 after the IEA report was released, touching its highest since November

saudi arabia non-oil activity

Saudi Arabia hits important economic milestone: Non-oil activities at 50% of GDP

The data points to a positive trajectory for the kingdom’s economy, driven by diversification, and growth across multiple sectors

oil

Oil prices at four-month high as revised IEA outlook signals tighter market

Near-term growth in global oil and liquids production will be driven primarily by the US, Guyana, Canada and Brazil, offsetting voluntary production cuts by OPEC+

Oil hovers near 3-week high on Middle East tensions

OPEC, IEA oil demand forecasts since 2008: A comparison

OPEC and the IEA, the world’s most closely watched forecasters of oil demand growth, are further apart than they have been for at least 16 years in their views on fuel use

UAE - GREECE

UAE-Greece talks: Masdar, Mubadala expand partnership

Trade volumes between the UAE and Greece surged by 6.2 per cent during the first nine months of 2023, underscoring the resilient bilateral economic relations

Saudi Aramco eyes more China investments

Aramco sees China demand growing, eyes more investments

The state-owned energy giant has been ramping up its China presence in a string of deals in refining and petrochemicals

Aramco

Aramco boosts 2023 dividends 30% with second-highest profit on record

Aramco’s shares were up about 1.7 per cent to SAR32.3 a share, slightly above their 2019 IPO price of SAR32

LNG expansion plans to squeeze out competitors

Saudi Aramco, UAE’s ADNOC in talks to invest in US LNG projects: Reports

Saudi Aramco is in talks to invest in phase 2 of Sempra Infrastructure’s Port Arthur LNG project in Texas

Saudi Arabia transfers 8% Aramco stake to PIF

Saudi Arabia doubles sovereign fund’s stake in Aramco

The fund has held a 4 per cent stake in Aramco since 2022 and indirectly holds another 4 per cent that was transferred last year to Sanabil

How ADNOC generated $500m in extra value from AI solutions

How ADNOC generated $500m in extra value from AI solutions

The oil firm’s use of AI technologies abated up to one million tonnes of carbon dioxide emissions between 2022 and 2023

Aramco

Aramco completes acquisition of 100% equity stake in Chile’s Esmax

The deal, which was first announced last September, represents the company’s first downstream retail investment in South America

Oil prices surge after OPEC+ extends output cuts

Oil nudges higher after OPEC+ extends output cuts

OPEC+ is extending voluntary oil output cuts of 2.2 million barrels per day into the second quarter and this is expected to cushion the market

Oil hovers near 3-week high on Middle East tensions

OPEC+ producers extend oil output cuts to second quarter

The oil demand outlook is uncertain for this year but OPEC expects another year of relatively strong demand growth of 2.25 million bpd

Oil price advances as spreads signal market strength

Oil rises, markets await OPEC+ decision amid mixed demand drivers

A decision on extending the cuts is expected in the first week of March, with individual countries expected to announce their decisions

ADNOC closes acquisition of 24.9% stake in OMV

ADNOC buys 25% stake in 68-year-old Austrian chemical group

The company said it intends to nominate two representatives to the OMV supervisory board

Masdar takes 49% stake in British offshore wind farm

UAE’s Masdar acquires 49% stake in British offshore wind farm

Construction of the mega-facility could start in late 2025, with the first 800 megawatts (MW) of electricity expected to come online by 2029

UAE announces fuel prices for March 2024

UAE hikes petrol, diesel prices for March 2024

The fuel price committee increased the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 16 fils per litre in March

OPEC+ reportedly mulls extending voluntary oil output cuts

OPEC+ to consider extending voluntary oil output cuts, sources say

OPEC+’s de facto leader Saudi Arabia has said that the cuts could continue past the first quarter if needed

Saudi Aramco signs $6bn supply chain agreement

Aramco inks $6bn supply chain deal, boosts Jafurah field gas reserves

The deals cover the supply of a range of products comprising strategic commodities, such as instrumentation, and electrical and drilling equipment

UAE set to announce fuel prices for September soon

UAE motorists face higher fuel prices for March

Will the UAE’s fuel price committee hike or cut rates for petrol and diesel today? Keep posted here to find out as we break the news

LNG expansion plans to squeeze out competitors

Qatar’s new LNG expansion plans to squeeze out competitors

The Gulf state plans an 85 per cent expansion in LNG output from its North Field’s current 77 million metric tons per year to 142 mtpa by 2030

UAE to announce petrol prices for March soon

UAE to announce petrol prices for March: will rates increase?

The fuel price committee increased the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 6 fils per litre in February

Qatar unveils new plan to further boost LNG production

Qatar plans new gas output boost amid global price collapse

The expansion may not be the last for Qatar as appraisals of the Gulf state’s gas reservoirs would continue and production might be expanded further

Oil hovers near 3-week high on Middle East tensions

Oil hovers near 3-week high on Middle East tensions, China demand

A bearish International Energy Agency report last week revised the 2024 oil demand growth forecast downward as the world shifts to cleaner energy

Saudi Aramco likely to issue a bond in 2024

Saudi Aramco likely to issue a bond in 2024, CFO says

The state-owned energy firm last tapped global debt markets in 2021, when it raised $6bn from the sale of a three-tranche sukuk

Why ADNOC is teaming up with BP for Egypt gas venture

Here’s why ADNOC is teaming up with BP for Egypt gas venture

The deal, which is subject to regulatory approvals, is likely to be completed in the second half of this year