The move defies US President Donald Trump’s demands for OPEC to help reduce prices
The UAE’s Barakah nuclear power plant is due to begin operations in 2020
“We are not under pressure except by the market,” said Saudi energy minister Al Falih
The project includes the construction, ownership, and operation of a 500 MW independent power project
Conformity with the cuts in the first two months of this year are less than levels seen in 2017 and 2018
The 35-year concession is for Onshore Block 4, and Inpex will invest up to Dhs646m in the block
OPEC, Russia and other non-OPEC producers are reducing output by 1.2 million bpd from Jan 1 for six months
The state-oil company is reportedly seeking new buyers, including smaller, independently run refiners
The IEA forecasts demand for OPEC crude will drop in 2020 and then rise to average 31.3 million bpd in 2023
Oil prices have been supported this year by output cuts
Government holding company Nama Group plans to sell a 70 per cent stake in Muscat Electricity Distribution and 49 per cent of Oman Electricity Transmission
The deal is expected to involve the purchase of all or nearly all of the 70 per cent stake in SABIC held by the Public Investment Fund
The OPEC+ alliance will meet in Vienna on April 17-18, with another gathering scheduled for June 25-26
The state-owned oil company plans to boost the capacity of its Sitra oil refinery to 360,000 bpd from the current 267,000 bpd
OPEC and major non-OPEC producers such as Russia have pledged to reduce their oil production
The oil minister said total global oil demand is set to grow by around 1.5 million barrels per day
Falih had said in January that the state oil giant will be listed by 2021
The deal will boost the project’s gas output by 63 per cent in two years
A group comprising ENOC and six government entities have found 62 per cent of companies to be in violation of diesel guidelines
The price of diesel has been increased by 5.7 per cent to Dhs2.41 per litre
US President Donald Trump Tweeted a request to oil producers on Monday to relax efforts to boost oil prices
The Dhs4.4bn underground facility, with a capacity of 42 million barrels, will be built in Fujairah
Saudi has been surpassed by Russia in the past three years as the top crude supplier to China
The deals cover upstream, downstream and bunkering opportunities
The oil industry must “push back on exaggerated theories like peak oil demand”, said Amin Nasser
The 315,000 barrel-a-day El Sharara field has been closed since state guards and tribesmen seized it in December
A new entity called ADNOC Oil Pipelines will lease the oil firm’s interest in 18 pipelines
Saudi’s Crown Prince Mohammed bin Salman and China’s President Xi Jinping also discussed counter-terrorism and de-radicalisation efforts
OPEC+ agreed to reduce oil supply by 1.2 million barrels per day from Jan 1 this year
Production from the zone’s oilfields could add up to 500,000 bpd each to the oil output of Saudi and Kuwait