UAE announces petrol prices for January 2020

Prices are unchanged from December 2019

Oil tops $61 as US crude oil inventories seen declining

Oil is on course for the best month in nearly a year

Saudi, Kuwait agree to resume oil output at neutral zone

The oil fields at the so-called neutral zone can produce as much as 500,000 barrels a day

Oil extends losses as Kuwait nears deal with Saudis on output

Oil is up about 9 per cent this month after the US and China struck a preliminary trade pact and the OPEC + group agreed to deepen output cuts

Kuwait could reach deal with Saudi to resume oil output in neutral-zone before year-end

The neutral zone, which has been shuttered for at least four years, can produce as much as 500,000 barrels a day

Saudi Aramco stocks give up about half of gains since debut

Investors are seeking new catalysts for the stock after it was included in major emerging-market equity benchmarks

OPEC+ oil supply cuts won’t prevent surplus in 2020 – IEA

Oil inventories may accumulate by 700,000 barrels a day in Q1 even if OPEC+ implements its entire cutback of 2.1 million bpd

China’s state grid inches closer to acquiring stake in Oman Electricity

The Beijing-based company will acquire stake in a deal that values Oman Electricity Transmission Co. at about $2bn

Abu Dhabi’s ADNOC, India’s Reliance sign up for potential JV

The agreement entails exploring the development of an ethylene dichloride facility in Abu Dhabi

Oil giant Total gets Libya’s nod to acquire Marathon Oil concession

Total will purchase Marathon’s stake in the Waha concessions for $450m, and has committed to invest an additional $650m to boost capacity by 180,000 barrels a day

Kuwait to invest as much as $1bn in Saudi Aramco IPO

Saudi Arabia is looking to raise more than $25bn by selling a 1.5 per cent stake in the world’s largest oil producer

UAE named top oil exporter to Japan in October

The UAE exported 32.24 million barrels of crude oil to Japan in October

Abu Dhabi’s Masdar to develop 400MW solar power projects in Armenia

Armenia has committed to produce 30 per cent of its electricity from renewable sources by 2025

Oil rebounds as Iraq signals deeper cuts ahead of OPEC+ meeting

The Organisation of Petroleum Exporting Countries and its partners will meet in Vienna this week

Oil posts worst decline since early October on bearish OPEC signals

The Organisation of Petroleum Exporting Countries and its partners will meet in Vienna on December 5-6 to decide on policy going forward

Aramco IPO bids reach $44.3bn as retail offer closes

The Saudi government plans to raise more than $25bn by selling a 1.5 per cent stake of the oil giant

UAE hikes petrol prices for December after three months of cuts

The price of diesel has been kept steady

UAE’s ADNOC launches new loyalty programme

The ‘Fuel Up and Fly Off’ offer will give customers an opportunity to win round-trip tickets with Etihad

Next stop Abu Dhabi: Aramco in regional push to sell shares

The deal will now rely on local investors and won’t be marketed in the US, Canada and Japan

OPEC+meeting

OPEC’s flaring political crises add new risk for oil supply

OPEC and its allies — who together pump about half the world’s oil — will meet in Vienna in early December

Saudi Aramco sees nearly enough early orders for IPO after 3 days

Fund managers can subscribe to the stock until Dec. 4

Saudi Aramco cancels London leg of planned IPO roadshow

It’s the latest sign that the giant Saudi oil company has scaled back the international ambitions for the IPO

Saudi Arabia cuts Aramco valuation, boosts loans for IPO

The Saudi Arabian Monetary Authority will allow smaller retail investors to borrow twice their cash investment, double the normal leverage limits the regulator allows for IPOs

Saudi Aramco seeks $1.71 trillion valuation in world’s biggest IPO

Aramco said it is seeking to raise as much as $25.6bn by selling a 1.5 per cent stake

Oil and gas: What is the regional outlook for the sector?

Petrochemical projects offer hope amid a bearish industry outlook

Morgan Stanley is latest bank to offer $1 trillion Saudi Aramco spread

Among 16 banks that offered a valuation, the range in estimates ran from $1.1 trillion at the bottom right up to $2.5 trillion

Abu Dhabi’s ADNOC invests Dhs1.8bn to upgrade its Bab onshore field

The investment will galvanise the company’s first Murban grade crude producing field

Oil could head below $50 without deeper supply curbs by OPEC+

The prospect of oversupply looms over the market in 2020, says experts

BP, Total, Shell, Vitol take stakes in Abu Dhabi oil bourse

ADNOC wants the Murban futures contract to become a benchmark for crude from the Middle East

Abu Dhabi’s ADNOC to open 50 ‘smaller’ fuel stations, launch new loyalty programme

The new fuel stations are aimed at serving smaller neighborhood areas