India wants to add UAE, Saudi oil for strategic reserve

India is exploring two to three other models for sourcing oil

UAE says Algiers oil talks aimed at consultation, not decision-making

Members of OPEC will meet on the sidelines of the International Energy Forum next week

oil-big7

Oil jumps after surprise drop in US crude inventories

An oil services workers strike in Norway threatened to cut North Sea output

Fire at Saudi Aramco’s Ras Tanura terminal injures eight

The company said the fire had not affected operations

Oil up on Saudi, Russia meeting

Saudi crude exports rise to 7.622m bpd in July

The kingdom produced a record high 10.673 million bpd in July

Aramco awards major gas pipeline work to Saudi KAD

The contract was worth in the region of SAR5bn, according to sources

Abu Dhabi considers extending Sweihan solar project after record low bid

Bidding for the Sweihan solar project is said to have beaten a record set in Chile last month

ENOC announces $1bn expansion of Jebel Ali refinery

The expansion will increase the capacity of the refinery by 50 per cent

Saudi Aramco to shut two refineries for maintenance later this year

Each shutdown could add four million to eight million barrels of crude into global markets

OPEC, non-OPEC oil stabilising deal close – Venezuela President

OPEC members are set to hold a meeting with non-OPEC oil producing nations in Algeria this month

Iran supports any move to stabilise oil market – President Rouhani

Falling oil prices are “harmful to all countries, especially oil producers,” he said

Why volatility persists in the oil market

Efforts to tame the boom-bust cycle through the control of prices and production have repeatedly broken down, writes Reuters columnist John Kemp

Behind the curtain of… Green energy

Gulf Business speaks to Al Fajer Neon Energy CEO Alexis Gianniotis

Dubai’s DEWA awards advisory contract for 200MW power plant

The contract for the 200MW CSP plant was won by a consortium led by KPMG

Fire breaks out at refinery in southern Iran

Four people were injured in the blaze

Global oil supply will continue to outpace demand next year

Global demand growth is slowing at a faster pace than initially predicted by the IEA

Hedge funds temper bullishness on oil

Hedge funds’ net long position in crude has fallen by nearly 100 million barrels over the last two weeks

Qatar mulls joining Exxon to buy Mozambique gas stake

Italy’s Eni is looking to reduce a 50 per cent stake in its giant Mozambique gas acreage

Libyan forces attack oil ports

The attacks were reportedly launched by forces loyal to eastern Libyan commander Khalifa Haftar

OPEC+meeting

Saudi likely to name new OPEC governor – source

Adeeb al-Aama will replace Mohammed al-Madi as OPEC governor

Russia offers to build 16 Saudi nuclear plants

Russia’s State Atomic Energy Corporation has expressed its willingness to assist in the kingdom’s nuclear plans

Iran says ready to help restore oil market balance

Tehran first wants to regains its pre-sanctions oil market share

Tired of cheap oil, Saudi now working to boost prices

OPEC and other producers such as Russia may resume talks on stabilising output in Algeria later this month

The GCC’s path to energy diversification

Countries across the Middle East are looking to diversify their energy mix with renewables emerging as a compelling option

Saudi Aramco, Japan to expand Okinawa crude storage deal

Aramco and ADNOC store up to 6.3 million barrels of crude oil each in Okinawa

Abu Dhabi’s TAQA says CFO has left the company

Mohammed al-Ahbabi, currently the deputy CFO, has been appointed acting CFO effective

Oil output freeze by Saudi, Russia to have 'miniscule' impact on oversupply

Saudi will maintain ‘responsible’ oil production policy – energy minister

Saudi Arabia pumped 10.67 million barrels per day in July, a record high

DEWA and Abu Dhabi’s Masdar to partner on further renewables projects

DEWA selected a Masdar-led consortium for the third phase of the Mohammed bin Rashid Al Maktoum Solar Park in June

Shell, Saudi Aramco to split Motiva assets in April 2017

The two Motiva partners announced last March they would divide their 20-year-old joint venture

Saudi Electricity could delay Jeddah expansion

The utility faces multiple challenges as it tries to keep up with rampant growth in power demand