Abu Dhabi National Energy Co(TAQA) confirmed that production was expected to begin in 2013.
Brent crude prices were also buoyed by promising data from top energy consumer China.
A power cut on Saturday has forced the refinery to stop all operations.
Saudi oil minister Ali Naimi confirms that the natural gas field will start production within “short period.”
As US crude production rises, is OPEC’s influence on global oil markets in danger of waning?
President Barack Obama plans to hold budget talks on Thursday aimed at averting the so-called fiscal cliff.
The East Siberia-Pacific Ocean (ESPO) pipeline aims to expand sales to the US and cement Russia’s place as a dominant force on international crude markets.
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.