OPEC expects oil market balance by late 2018

Oil prices are trading near to $64 a barrel, close to their highest since 2015

Abu Dhabi’s ADNOC Distribution shares open sharply up

The strong opening eased concerns about demand for the stock last week

Saudi to increase electricity prices

The proceeds will be used to support a new programme for lower income households

Saudi Aramco raises spending to $414bn over next decade

The spending plan is higher than Aramco’s projection last year of around $334bn

UAE says OPEC, allies to announce exit strategy from oil cuts in June

The UAE will hold the presidency of the 14-nation Organisation of the Petroleum Exporting Countries in 2018

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Exit strategy for global oil cuts to be ‘discussed before June’

OPEC and non-OPEC producers have agreed to extend output cuts until the end of 2018 as they try to clear a global oil glut

Oil to average $56 a barrel in 2018 – BofAML

The bank warned that rising political tensions in the Middle East could impact supply, despite the improved forecast

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Saudi’s SABIC to open office in Iraq as relations improve

Saudi Arabia is wooing Baghdad in an effort to halt the growing regional influence of arch-foe Iran

Saudi minister says OPEC expects to stick to cuts in second half of 2018

Russia has been pushing for a clear message on how to exit the cuts

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OPEC agrees oil cut extension to end of 2018

OPEC delegates said the group had agreed to extend the cuts by nine months, as expected by the market

Abraaj Group to build power plant in Mexico

As a first step the group has invested in a 111 MW natural gas-fired power plant in Chihuahua

France’s EDF plans to bid in Saudi Arabia nuclear tender, say sources

Saudi Arabia is considering building 17.6 GW of nuclear-fuelled power generation capacity by 2032

Saudi energy minister coy over oil output cuts

Khalid Al Falih told reporters to wait for the results of this week’s OPEC meeting in Vienna

ADNOC to spend over $109bn to boost gas, downstream

The firm also said it is on track to expand oil production capacity to 3.5 million barrels per day (bpd) by the end of 2018

Saudi Aramco, SABIC plan to build $20bn oil-to-chemicals complex

The partners say the facility would be the largest of its type in the world, as the kingdom looks to diversify beyond crude oil exports

Kuwait and Iraq near agreement on price for gas exports

Iraq would export at least 50 million cubic feet of gas per day for 10 years, said Kuwait oil minister

ADNOC’s distribution unit could raise as much as $2bn in IPO

The IPO would be the UAE’s biggest since DP World raised nearly $5bn in 2007

Westinghouse discussing group bid for Saudi nuclear tender, say sources

The kingdom would become the second country in the GCC to tap nuclear power after the UAE, which plans to start up the first of four reactors in 2018

UAE’s ADNOC to venture into privatisation, oil trading

The state firm plans to sell at least 10 per cent of its fuel retail unit in an IPO

ADNOC listing could raise up to $2.8bn

Abu Dhabi is pushing its state companies to list on the bourse with the hope of luring foreign investors

Saudi Aramco converts Jeddah refinery to distribution hub

Aramco had for years been considering whether to shut the refinery because of age and environmental concerns

UAE’s ADNOC, China National Petroleum explore offshore collaboration

CNPC holds an 8 per cent interest in Abu Dhabi’s 40-year onshore oil concession

IEA says warmer weather may tilt oil market into surplus

The IEA has cut its oil demand forecast by 100,000 barrels per day

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OPEC, allies unlikely to delay oil cut extension decision

OPEC and other producers are cutting output by about 1.8 million barrels per day until March

UAE’s ADNOC plans to list at least 10% of fuel distribution business

ADNOC Distribution is the leading fuel distributor in the United Arab Emirates

More than $331bn of oil and gas projects in GCC, says report

Some 361 projects are currently underway, buoyed by steadily increasing oil prices

Saudi Aramco expects to boost capital expenditure by about 10%

The plans to increase investment come as Aramco prepares for an international IPO

Saudi eyes investments in Turkmenistan

The kingdom’s energy minister said Aramco was looking at opportunities in the country

Abu Dhabi’s ADNOC expected to sign $6bn loan this week

The company is raising the financing as part of an overhaul of its capital structure

Trump pitches New York stock exchange for Saudi Aramco IPO listing

The sale is expected to raise about $100bn, making it the world’s largest IPO ever