The MoU calls for South Korean firms to help build at least two small-to-medium sized nuclear reactors in Saudi.
ADNOC said on Wednesday it raised benchmark Murban crude prices to $56.55 per barrel, up $10.15 from the previous month.
Khalid al-Buainain took early retirement for personal reasons and his departure will take effect on Sunday.
Rowan said it was in talks with Saudi Aramco to extend contracts for four of its drillships and was looking to win contracts for three jack-up rigs.
Pearl GTL can produce 140,000 barrels per day of gas-to-liquids products and 120,000 barrels per day of natural gas liquids and ethane.
Higher OSPs would come as a vote of confidence by the OPEC kingpin in oil demand recovery.
The 400,000 barrels per day refinery is part of a $20 billion plan to develop an industrial city in Jizan.
Oil fell on Tuesday after a bigger-than-anticipated rise in U.S. crude oil stocks.
The price of crude rebounded from a near six-year low to around $60 per barrel this month.
Brent futures dropped below $60 a barrel and U.S. contracts hovered around $50.30.
The state-owned company might use some of the proceeds from a $1.5 billion long-term loan for its expansion plans.
Regional governments should ditch existing, outdated roadmaps for installing solar, says expert.
The project will involve building processing facilities, wellheads and pipelines for gas in Turaif.
Brent crude oil prices slipped below $59 a barrel on Thursday.
The estimate suggested the country is hewing tightly to the strategy of protecting market share rather than cutting production to try to inflate prices.
Exports fell by 362,000 barrels per day from 7.296 million bpd in November 2014.
The first shipment is expected to be received by March, according to sources.
Analysts said that the drop was a reaction to soaring prices of the past two weeks, which many say was overblown.
Not a single crude oil tanker has departed Libya in the past week, industry sources say.
Brent has jumped by almost 40 per cent in the last four weeks, supported by a sharp fall in U.S. oil drilling.
Dubai’s only utility also said it would distribute a cash dividend for the year of Dhs500 million to the government.
Security challenges created by groups such as ISIL are impacting oil investments, which will affect future production, an expert said.
Analysts said that downward pressure may come from the refined products market in the next quarter.
The Gulf state plans to deploy 120 oil and gas rigs by the start of next year, up from 80 rigs now.
The price of Brent crude has increased by more than 30 per cent in the last four weeks.
Omair said the current market surplus was less than 1.8 million barrels per day.
Antimony trioxide is mostly used as a flame retardant and a catalyst in the production of plastics.
Prime Minister Ibrahim Mahlab signed MoUs with Kuwaiti companies involving projects due to start in three to five years.
Benyan replaces Mohammed Al Mady, who was appointed as the president of the country’s military industries corporation.
OPEC officials have expressed cautious optimism about the price recovery and noted signs of higher demand.