Investors are hoping for a last minute deal in the US to avert the so-called fiscal cliff.
If unresolved, the US “fiscal cliff” budget crisis could erode oil demand in the world’s top consumer.
The plant, located in Jubail, is expected to start production in the second half of 2014.
Midyan, developed by Saudi Aramco, is expected to start production in 2013.
As the White House edges closer to a resolution, investors pour cash into oil and equities.
Caisse des Depots and ADIA come together to bid for TIGF business.
The credit facility was increased from the 7 billion riyals initial target amount.
The 400,000 barrels per day refinery is due to be fully operational in the third quarter of 2013.
Technical failure brought oil flow to a halt on December 8, and again on Saturday.
The British oil company was originally excluded from the process after not receiving a qualifying letter.
The US Federal Reserve announced plans for more monetary stimulus on Wednesday.
The Al Ghurair group owns half of Ras Lanuf, Libya’s biggest refinery.
The gas producer defaulted on its $920 million sukuk that matured on October 31.
Saudi Aramco speaks for the first time about the virus that shut down its internal network.
OPEC is expected to stick with an output target of 30 million bpd when it meets on December 12.
Power consumption rose by nine per cent in the first half of 2012.
New survey finds that the oil and gas sector is the preferred industry for professionals in the MENA region.
The contracts will develop an industrial city in the north of KSA as it looks to develop its mining industry.
The gas-rich state has so far disappointed environmentalists by failing to reduce emissions.
TAQA has purchased 53.2 per cent from General Exploration Partners.
The tiny Gulf state will use solar power for 16 per cent of its electrical output by 2018.
The deal comes weeks after British Prime Minister David Cameron’s visit to the UAE.
The new plant, called Yanbu III, will have a capacity of 550,000 cubic metres per day of desalinated water.
The joint venture energy firm plans to bring a cleaner fuel project online.
The Arab world’s economic revolution is only just beginning, says Jafar, in an exclusive interview with Gulf Business.
The Sharjah-based natural gas producer failed to repay its creditors on the maturity of its $920 million Islamic bond last month.
A conference on banning nuclear weapons in the Middle East was to take place in December, but has now been delayed.
Production in the new field is expected to begin in the first half of 2014.
The deal provides for the storage of six million oil barrels for the Korean strategic stockpile program.
Gasoil contracts secured at a high premium for Q1 next year. Price is labelled ‘crazy’ by traders.