The UK’s Financial Services Authority said Lamprell failed to inform the market of its deteriorating financial position on time.
First-quarter sales volumes will be down by around 40,000 bpd partly due to production issues in the MENA region.
Naimi’s comments follow recent warnings that weak economic growth could hobble global oil demand this year.
The 100-megawatt, grid connected power plant, Shams 1, will generate clean energy to power 20,000 homes in the UAE.
Kuwait Oil Company said no one was injured by the gas leak.
Saudi Electric last tapped the international bond market in March 2012 with a $1.75 billion two-part Sukuk.
Abu Dhabi-listed energy company Dana missed repayment of its $920 million sukuk that matured in October last year.
OPEC, the source of more than a third of the world’s oil, expects the U.S. economy to expand by 1.7 per cent in 2013.
The emirate has signed an agreement for a petroleum storage facility in Malaysia’s Johor state.
The cabinet reshuffle includes four new ministers and one new ministry.
The discovery was made at the 4-North offshore block near Qatar’s massive North Field.
Securing storage space at the key fuel hub outside the Strait of Hormuz helps traders ensure swift and flexible supplies to buyers.
The economic case for nuclear generation in the Middle East is compelling, writes Reuters’ market analyst John Kemp.
Saudi Arabia has leased an oil storage unit in Fujairah, allowing traders to quickly respond to demand, particularly in Asia.
Khalid al-Falih said Saudi Arabia had maintained its maximum potential oil production at 12.5 million barrels per day.
U.S. crude has fallen around $8 per barrel over the last month.
The top 50 list of countries adjusting to future energy sources does not include any OPEC states.
Omani gas production has risen sharply over the last decade and the country remains a net gas exporter.
Average oil production in the country was at 884,900 bpd in 2011.
The increase was due to new discoveries in three different oil fields as an average of 918,000 bpd were produced.
Emirates Nuclear Energy Corp (ENEC) was awarded a licence for the construction of the first two reactors last July.
The utility printed the five-year paper at par at a profit rate of three per cent.
The refinery is expected to restart around April 15.
DEWA CEO Saeed Mohammed al-Tayer indicated last week that the sukuk would be $1 billion.
Once complete, the facility will have the capacity to import nine million tons per annum of LNG.
The Gulf’s second-largest chemical producer made a net profit of 1.8 billion riyals ($494.4 million) for the fourth quarter.
The Abu Dhabi-listed energy firm missed repayment of its $920 million sukuk last year.
The value of the deal was not disclosed, but it is estimated to be between $150 to $300 million.
Abu Dhabi’s TAQA said that two columns of oil have been found since drilling began in November.
Gulf Capital, which has around $1 billion in assets under management, did not provide financial terms.