Brent crude, the global oil benchmark, closed down 9.4 per cent on Friday, its biggest daily drop since the global financial crisis in 2008, settling at $45.27 a barrel
Brent for May settlement dropped $4.72 to $45.27
West Texas Intermediate futures for April delivery fell 40 cents to settle at $46.78 a barrel on the New York Mercantile Exchange
The load of the 241 fuel assemblies into the Unit 1 reactor was completed this week
Bahrain, where oil and gas are also central to the economy, wants to balance its budget by 2022
Saudi Aramco seeks to acquire a 70 per cent stake in SABIC for $69.1bn
Oil has fallen more than 20 per cent this year
The oil giant is in discussions with Wall Street banks to draw up scenarios for a second listing overseas
Investors are struggling to gauge whether the virus will turn into a global pandemic
New order intake from Oman, Algeria and the Netherlands amounted to $2.1bn
The Organization of Petroleum Exporting Countries and its allies are to meet next week in Vienna to assess their global cuts and output policy
Further investments of $4.3bn are expected into MENA’s desalination projects by 2022
By the end of 2020, the plant will have a total cooling capacity of 49,000 refrigeration tonnes
Jafurah will likely produce about 130,000 barrels a day of ethane, close to 40 per cent of the kingdom’s current production and around 500,000 barrels a day of gas liquids and condensates, representing about 34 per cent of the output
The 23-nation coalition known as OPEC+ had already scheduled the conference for early March when it last assembled in December
In August, Reliance valued its oil-to-chemicals division at $75bn including debt, implying a $15bn valuation for a 20 per cent stake
Both contracts are expected to be completed in 2022
The country’s nuclear regulator has authorised Nawah Energy Company to commission and operate Unit 1 of the nuclear power plant
The Khafji field will start output by the end of February
The pilot facility hosts a capacity of 80 kilowatts
China, the US and India bear the highest economic cost of soaring pollution, at an estimated $900bn, $600bn and $150bn a year, respectively
In 2020, Masdar’s global expansion is on track as the UAE’s renewables pioneer opens new markets, financing options and technologies
The company has also started offering services in the emirate of Umm Umm Al Quwain
China’s Hubei province reported almost 15,000 new coronavirus cases, spurring a drop in crude prices
The company plans to open between 20 to 25 filling stations in Dubai
ADNOC Distribution’s revenues for 2019 totaled Dhs21.3bn, dipping 6.8 per cent from Dhs22.89bn in 2018
The companies, which include two Chinese buyers, requested the lower volumes as part of their long-term supply contracts with Saudi Aramco
Crude has tumbled over the past few weeks as the virus wreaked havoc on the economy of the world’s biggest oil importer, China
Brooge has signed an agreement to lease out 450,000 square metres of land to Fujairah Oil Industrial Zone (FOIZ)
The coronavirus managed to wipe out 20 per cent of oil consumption in China