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
ADNOC unveiled a new gas strategy last week with the aim of making the UAE an exporter
On Sunday, Falih announced plans by Saudi Arabia to reduce oil supply by 500,000 bpd in December
Washington gave 180-day waivers to eight Iranian oil buyers
ADNOC aims to make the UAE a gas exporter
The deal is Aramco’s second major crude supply pact with a private Chinese refiner
Iraq’s oil minister has said the country plans to increase its oil output and export capacity in 2019
The company’s total debt has been reduced by Dhs3.7bn so far this year
Saudi-led OPEC and its allies decided in June to relax output curbs in place since 2017
The kingdom’s Public Investment Fund previously denied a previously agreed $200bn solar project with SoftBank had been scrapped
The United States on Monday restored sanctions targeting Iranian oil
Washington has restored measures lifted under a 2015 nuclear deal negotiated with Tehran
The emirate has approved Dhs486bn in capex to support ADNOC’s 2019-2023 growth plan
Rival operator ENOC is also installing solar panels at its stations
The first stage of the project is due to be commissioned in late 2020
Global oil demand is projected to grow by between 1.1 and 1.5 million barrels per day in 2019
Zanzibar Petroleum Development Company is also party to the agreement
OPEC and non-OPEC oil producers agreed in June to relax their oil cuts
Saudi energy minister Khalid al-Falih said that the oil market was in a “good place”
US is pushing allies to cut imports of Iranian oil to zero and will reimpose sanctions on Iranian oil next month
The kingdom said last week it would respond to any economic sanctions linked to the death of journalist Jamal Khashoggi