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.
The prize for increasing your building’s efficiency could be vast, say energy-saving experts.
Big Oilfield service companies are rapidly gaining importance over major oil giants.
Abu Dhabi National Energy Company blames loss on construction costs and lower gas prices.
The company is also looking to expand investment and production in Iraq, its CEO says.
Forecasts suggest the States will achieve self-sufficiency in oil and gas and become an exporter by 2030.
A round up of the day’s news and gossip from the region’s largest oil and gas event.
In its World Oil Outlook report, OPEC cuts its forecast of global oil demand to 2016 due to economic weakness.
President Obama winning a second term in office has seen oil price drop after previous 3 per cent gains when Romney was favourite.
QP had owned 30 per cent of the company having previously spun off 70 per cent in 2008.
Sharjah-based Dana did not repay a five-year convertible Sukuk on maturity last week.
The 320-km gas pipeline was damaged during an attack last week.
The natural gas firm becomes the country’s first company to fail to repay a bond, also missing a $18.75 million accrued profit payment.
The Sharjah-based gas firm has reached a standstill agreement with bondholders, say sources.
TAQA has a 60 per cent stake in Netherlands’ 4.1 billion cubic metre Bergermeer storage facility.
Six East Coast oil refineries representing 1.19 million barrels per day could potentially be hit by the deadly storm.
The financing will include a three-year and a five-year revolving credit facility.
The onshore pipeline will carry the majority of Abu Dhabi’s oil exports from storage fields in Fujairah.
A consortium led by TAQA made the lowest bid for the Rabigh 2 project in the Kingdom.
The Saudi oil producer has awarded contracts to companies from across Europe and Asia – the project is said to be worth billions of dollars.
Gulf Business outlines some of the best ways to build a more energy efficient environment at the work place.
The move would make ADNOC the first Middle Eastern producer to export ultra-low sulphur diesel outside the region.
No one was injured in the gas leak accident, said state news agency KUNA.
Saudi Aramco has been pumping around 10 million barrels per day for most of this year.
The Kingdom increased the selling prices for November to Asian buyers in line with widening product cracks.
Emirates Aluminium reportedly picked Goldman Sachs, Citigroup and Abu Dhabi Commercial Bank for the potential bond.
Aramco says gas flow at new Red Sea site is 10 million cubic feet a day and more wells could be drilled.