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.
Consumption of oil will expand by 840,000 barrels per day (bpd) this year, 80,000 bpd more than previously expected.
Oil majors Exxon Mobil and Total have upset the government by signing deals in Kurdistan.
Securing strategic oil storage space at Fujairah has become a top priority for oil producers.
The offer from trade minister, Toshimitsu Motegi, was aimed at freeing up extra oil.
Hungarian oil and gas group MOL’s shares were down 4.1 per cent on Friday, a five-week low.
The loan is expected to help Japan win new and renewing energy concessions.
The agreement would allow Japan to quickly seek additional oil supplies via a telephone hotline.