TAQA Sells Tesla Motors Stake

Abu Dhabi National Energy Company (TAQA) booked a profit of $113 million on the sale.

SABIC Plans $100m Centre In China

The Saudi-based chemical producer is planning to build a technology research and development in Shanghai.

UAE Oil Output Hit 2.7m bpd In March

The UAE oil production was reportedly at full capacity because of the rising demand.

Saudi Trims May Oil Prices For Asia

The Kingdom also slashed its crude prices for Europe, as oil demand weakens.

Korea Eyes More Nuclear Plants In UAE

Korea Electric Power Corp, which is already building four nuclear power plants in the UAE, will begin talks to construct four more in the country.

SEC Receives $1.4bn Loan

Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.

OPEC Output Rises In March

The oil supply from the OPEC nations in March this year increased to its highest level since October 2008.

Supply Offsets Iran: Brent Nears $124

Oil edges down as US crude stocks offset Iran fears.

The Great Iraq Threat

Saudi Arabia is right to be concerned about the rise of new hydrocarbon superpowers, writes Yadullah Ijtehadi.

Saudi Plans Ambitious Nuclear Programme

The Kingdom is planning to spend more than $100 billion to establish 16 nuclear energy plants in the country.

World Oil Import Bill May Hit $2trn

The International Energy Agency has warned that if crude oil prices don’t fall, oil import bills may soar to record levels this year.

First Gulf Lends $350mn to AKT

The UAE lender’s loan will help Indonesian coal producer AKT to meet its working capital needs.

Saudi Oil Exports Rose In January

The Kingdom’s oil exports rose 143,000 barrels per day in January compared to December, according to the Joint Data Initiative.

Why Gas Is A Rising Star

Peter Shaw-Smith outlines the global story of gas, which countries are producing the most LNG, and why it matters.

Qapco, Taiwan’s CTCI Sign Deal

Qatar Petrochemical Company has awarded construction contracts worth QR604 million to expand its ethylene plant.

GCC Oil And Gas Reserves Worth $65trn

The region’s hydrocarbon reserves account for almost a third of the world’s reserves, says QNB Capital.

OPEC Pumps Record Volumes

Despite demand worries, OPEC oil production reportedly reached 30.97 million bpd in February, the highest since November 2008.

Bahrain Eyes Gas Imports From Russia

The Gulf state is initially planning to import the equivalent of around 3 million tonnes a year of LNG from Russia’s Gazprom.

Korea Gets UAE Oilfields Stake

A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.

Saudi Raises Crude Prices For Asia

Saudi Arabia has increased the price of its Arab Light crude oil for customers in Asia by $1.25 a barrel for April.

Regional NOCs Going Global

National oil companies that are globalizing must be prepared to face complicated, international risks.

IPIC Signs $850mn Loan

Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.

Taqa Raises $215mn From Sukuk Sale

The ten-year Malaysian ringgit-denominated Islamic bond carried a 4.65 per cent profit rate.

IMF Warns About Rising Oil Prices

The Fund said that higher oil prices are posing a rising threat to the global economy.

Saudi Faces Rising Oil Demand

The Kingdom is concerned about keeping the global oil market well supplied as demand from Asian countries increases.

ILF Engineers Wins DEWA Contract

DEWA has awarded ILF Engineers a consultancy contract for two solar projects, including its $3.26 billion energy park.

Gulf Funds Eyeing ONGC Stakes

Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.

Aramco, Pertamina Sign Petro Deal

Aramco signed an initial deal with Indonesia’s state energy firm, PT Pertamina, to look into building a petrochemicals project in Indonesia

Brent Falls On Greece Woes

Brent crude slips to $118 as a final decision on Greece’s bailout package faces a possible delay.

SABIC, Sinopec In $5.3bn Contract

The two companies are in negotiations to build a methanol complex in Trinidad and Tobago.