The signing of all the contracts is expected to take place in early October
The price of a litre of octane 95 gasoline will climb 24 per cent to Dhs 2.14 at the start of August
The price of a litre of octane 95 gasoline will rise by 24 per cent to Dhs 2.14 at the start of August
The move, which comes into effect from August 1, will increase fuel prices for residents
The Wafra field was first shut for maintenance on May 11 for two weeks
Domestic fuel prices are currently among the lowest in the world because of heavy state subsidies
Gasoline and diesel will be deregulated from Aug. 1 and a new pricing policy linked to global levels will be introduced
Some Saudis close to the ruling family have warned that if Iran still manages to weaponise its nuclear programme, then the kingdom will have to follow suit
Ali Saleh al-Omair said that Kuwait was confident of being able to carry out its oil strategy and raise output by 2020
The kingdom’s domestic crude oil inventories jumped to a record above 300 million barrels in May
The 200MW IPP phase II project of the Mohammed bin Rashid Al Maktoum Solar Park is slated to be operational by 2017
The kingdom exported 7.737 million barrels a day in April
A substantial increase in Iran’s oil exports is probably years away, writes Reuters’ analyst John Kemp
ENOC, which owns 54 per cent of Dragon Oil, in June offered 750 pence per share to buy out minority shareholders
The kingdom said it pumped 10.56 million barrels per day of oil last month, up 231,000 bpd from May, according to OPEC
OPEC expects world oil demand to increase by 1.34 million bpd in 2016, up from growth of 1.28 million bpd this year
The International Energy Agency (IEA) said it expected global demand growth to slow next year to 1.2 million barrels per day from 1.4 million this year
Construction of the first phase of the plant, ultimately expected to generate 1,021 megawatts, will start this year
China’s stocks tanked further on Wednesday in a deepening crisis as over 500 Chinese-listed firms suspended trading
The added refining capacity is expected to eat into crude available for exports, Gulf-based oil and trading sources said
The company said second-quarter production stood at 238,904 tonnes against 231,713 tonnes in the same 2014 period
The Abu Dhabi-listed firm had filed an arbitration case in London in October 2013 against the Kurdistan Regional Government
The Saudi state oil company has lowered the August price for its Arab Light grade for Asian customers by 10 cents a barrel versus July
The company “confirms that it is not engaged in merger discussions with any government or other entity”, it said in a statement to the bourse
ENOC published its offer document on Wednesday, showing the deal is moving ahead
IPIC made a net profit attributable to equity holders in the parent of $1.21bn against $1.92bn in 2013
Billions of dollars were spent on assets and expansion but the recent oil drop has impacted TAQA’s operations.
For Abu Dhabi’s Mubadala, the purchase is part of a push to invest in assets other than oil.
Emirates Global Aluminium is currently building a bauxite mine and an aluminium refinery in the West African country.
The refinery is now processing crude at full capacity of 400,000 barrels per day