OPEC+’s de facto leader Saudi Arabia has said that the cuts could continue past the first quarter if needed
The deals cover the supply of a range of products comprising strategic commodities, such as instrumentation, and electrical and drilling equipment
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
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
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
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
A bearish International Energy Agency report last week revised the 2024 oil demand growth forecast downward as the world shifts to cleaner energy
The state-owned energy firm last tapped global debt markets in 2021, when it raised $6bn from the sale of a three-tranche sukuk
The deal, which is subject to regulatory approvals, is likely to be completed in the second half of this year
The company’s board proposed a final cash dividend of 2.0 fils per share (approximately Dhs2.2bn), including a variable dividend of 0.7 fils
OPEC raised its world oil demand forecasts for the medium and long term in its annual outlook published in October
Titan Lithium Industries has signed a 50-year land lease agreement with KEZAD to build the plant in Khalifa Industrial Area (KEZAD Al Ma’mourah)
Dubai Municipality, which leads the project, has partnered with ENOC, BESIX Middle East, and Marubeni Middle East and Africa Power
Aramco chief executive Amin Nasser said he expected oil demand to increase to 104 million bpd this year and to 105 million bpd in 2025
For FY2023, ADNOC Gas’ robust performance continued, with net income reaching $4.72bn, significantly exceeding market expectations
The level of spare capacity – or the perception of how much is available – can influence world oil prices.
The government has lined up Citigroup, Goldman Sachs and HSBC for the sale, which could take place in the second or third quarter of this year
Non-OPEC output from Norway and Guyana is increasing while Russia is exporting more crude in February than it planned
In 2024, ENOC will continue to offer industry-leading high-tech solutions to support UAE’s energy transition, says Saif Humaid Al Falasi, group CEO, ENOC
The complex will specialise in industries related to hydrogen and the advancement of renewable energy sources
OPEC said its “committee will continue to monitor” countries’ conformity with output decisions
More than one-third of companies have plans to raise wages by up to 5 per cent
Recently, four tankers carrying Russian Urals crude passed through the Bab-el-Mandab strait with another three heading south through the Red Sea
OPEC oil output in January registered the biggest monthly drop since July, as several members implemented new voluntary production cuts
The UAE has announced revised fuel prices for the coming month
Consumers will have to shell out a few fils more as authorities announced a hike in petrol prices for February
The energy firm maintained a strong sales momentum in 2023, signing LNG deals valued between $9.4bn and $12bn
Negotiations on the key commercial details between Uganda and UAE-based Alpha MBM Investments are expected to be completed within three months
The increased allocation will include investments to grow the company’s domestic and international carbon management platforms
The complex is expected to be able to produce 1.8 million metric tons of ethylene per year and is designed to expand SABIC’s manufacturing presence in Asia