The emirates’ energy minister said Qatar’s exit from OPEC “is not going to affect us or the production moving forward”
OPEC and Russia agreed on Friday to reduce production
CEFC is being restructured after facing debt troubles
The announced cuts were larger than the market had expected
“We hope to conclude something by the end of the day tomorrow,” Saudi’s energy minister said
Oil prices have fallen by almost a third since October to around $62 per barrel
OPEC will hold policy talks on Thursday in Vienna
The two will also liquefied natural gas bunkering opportunities in the UAE and abroad
OPEC will meet on Thursday in Vienna, followed by talks with allies such as Russia on Friday
Qatar confirmed plans to leave OPEC on Monday
OPEC and its allies meet in Vienna next week amid concerns over a slowing global economy and rising oil supplies from the US
Saudi agreed to raise supply steeply in June to help cool oil prices and address a supply shortage after the US imposed sanctions on Iran
The Public Investment Fund, the kingdom’s sovereign wealth fund, owns a 74 per cent stake in Saudi Electricity
The agreement marks the first time a German oil and gas company has been awarded a stake in an Abu Dhabi concession area
OPEC and non-OPEC producers will work together, the Iraqi deputy oil minister said
The $24.4bn Barakah power plant is the world’s largest nuclear project under construction
A further investment of over $600m is planned in the region over the coming few years
A project to construct two nuclear plants is proceeding at an excellent pace, says energy minister
Musab al-Mahruqi will take over as group chief executive effective December 2
‘The risk to the gas industry is that in its glee to kill off coal, it isn’t seeing renewables in the rearview mirror’, writes Reuters’ columnist Clyde Russell
The project is scheduled to start up in 2024
The Abu Dhabi firm is looking to boost local spending under its ICV programme, launched earlier this year
The project is due to be completed in late 2019
The company introduced self service refuelling in Abu Dhabi earlier this year
ADNOC last week announced a new gas strategy with the aim of making the country an exporter
Since early October, global oil prices have fallen by a quarter to below $70 a barrel
The state oil company also signed a deal with Mubadala to explore downstream opportunities
Aramco said it is still in discussions to buy a stake in petrochemicals company SABIC
The Ghasha concession consists of the Hail, Ghasha, Dalma and other offshore fields
The deal is the firm’s second in Egypt