The contracts signed are five-year extensions to existing service contracts.
Is continuing instability and stalled LNG production in the Middle East causing the region to lose its competitive advantage?
Countries that produce heavier higher-sulphur crudes like Saudi Arabia are the main winners, says Reuters market analyst John Kemp.
Prices are being supported by worries that the political situation will worsen in the Middle East.
Increasing pressures on the global energy system have led to heightened fragility and uncertainty.
A feasibility study will be carried out by the two companies over the next five months.
The move was part of an acquisition of BP assets in the North Sea agreed in 2011.
The project will allow both countries to share power of up to 3,000 megawatts.
Emirates National Oil Co (ENOC) has cut the retail price to Dhs3.50 a litre.
We now know why but need to determine how, says Hannes Reinisch, senior manager for renewable energy and sustainability, PwC.
Triple digit oil has encouraged development of U.S. shale oil in North Dakota and Texas, some of which is the most costly in the world.
The work is due to be completed within three years at the refinery.
The plant is expected to begin commercial operations in 2018.
Proper regulatory and policy frameworks are required to reach this potential, says expert
In January the government signed a deal with a consortium led by France’s GDF-Suez to build the 1,500 megawatt Az Zour plant.
Hani Hussein came under pressure from lawmakers wanting to question him over a $2.2 billion compensation payment to Dow Chemical Co.
The Gulf state has one of the highest energy consumption rates per capita in the world, with the average Kuwaiti using 22 times more resources than the country provides per person.
The terminal will have a storage capacity of over 240,000 cubic metres and will be HTL’s second project in the emirate.
Riyadh plans to install 41,000 megawatts (MW) of solar power over the next 20 years.
QPI will contribute specifically to the French company’s Moho North oil project.
The Gulf State has commissioned the Middle East’s first solar enhanced oil recovery (EOR) project.
Over 1,000 of around 1,400 staff at Oil Sector Services, owned by Kuwait Petroleum Corporation, have been gathering in a union building.
The project, estimated to be worth less than $300 million, is due to come online in mid-2016.
The state-owned firm built a crude oil pipeline from Habshan to Fujairah in the UAE.
The plant will use integrated gasification combined cycle (IGCC) technology to convert vacuum residue fuel from the refinery into a synthetic gas.
Saudi Aramco is estimated to import 8.9 million barrels of diesel in June, up from around 6.7 to 7.5 million barrels in May.
The Kingdom produced 9.136 million bpd of oil in March, 14,000 bpd less than in February.
Nizar Mohammad al-Asani replaced Farouk Zanki as CEO at the oil firm and the cabinet approved the nomination of six board members.
US growth remains weak, the European debt crisis is dragging on and instability is affecting the Middle East’s oil supply.
A two-month shutdown of Oman’s biggest refinery slashed Omani regular gasoline output by 42 per cent in the first quarter of 2013.