Saudi’s Safco Gains Regulatory Nod For $222.2m Bonus Share Issue

Safco will raise its capital from SAR3.33 billion to SAR4.16 billion ($888 million-$1.11 billion), according to a filing on the bourse website.

Dubai’s Dnata Buys Majority Stake In UK-Based Holiday Firm

The company did not disclose the value of the deal or the exact size of the stake it purchased.

Oil, Gas Industry May Cancel $1trn Projects On Price Fall -Aramco

Aramco executive said that the $1 trillion figure included projects that might merely be delayed, not just those that could be cancelled outright.

Saudi Aramco Says Operating 212 Drilling Rigs, No Decision On Increase

Aramco deployed 210 oil and gas rigs in 2014, an exceptionally busy year, company sources had said.

Solar Impulse 2 Begins Round-The-World Flight From Abu Dhabi

The zero-fuel airplane is flying from the UAE capital to Oman in the first leg of its journey.

Badri: OPEC Shouldn’t Cut Output To “Subsidise” Shale

The OPEC secretary general also said that the oil market would return to balance in the second half of 2015.

Drop In Shale Output Caused Oil Price Rebound – Kuwait Oil Minister

He said projections showed prices might improve this year, but added that they might also stay between $50 and $60 a barrel.

Louis Dreyfus Ships Big US Ethanol Cargo To Middle East

Dreyfus is sending about 280,000 barrels of ethanol from the Port of New York to Jebel Ali in the UAE.

Fujairah Oil Storage Capacity May Rise 75% By 2020

The Fujairah port, which lies outside the Strait of Hormuz, a vital Gulf oil export route, has seen a boom in storage facility building since late 2009.

Abu Dhabi To Shut Two LNG Trains For Maintenance From March 15

The two 1970’s-built trains have a combined capacity of 2.1 to 3 million tonnes per annum.

Saudi Arabia Expects Oil Price To Stabilise

The minister said that the Kingdom wanted the market to stabilise but said it will not subsidise higher cost producers.

Oman’s PDO Ups Crude Output Above 2015 Plans

PDO’s production in January and February exceeded the planned average for the year as a whole.

Saudi Arabia, South Korea Sign MoU On Nuclear Power

The MoU calls for South Korean firms to help build at least two small-to-medium sized nuclear reactors in Saudi.

UAE’s ADNOC Raises February Crude Prices

ADNOC said on Wednesday it raised benchmark Murban crude prices to $56.55 per barrel, up $10.15 from the previous month.

Saudi Aramco Senior VP Buainain Steps Down-Sources

Khalid al-Buainain took early retirement for personal reasons and his departure will take effect on Sunday.

Rowan Says Expects Saudi Aramco To Keep Employing Its Rigs

Rowan said it was in talks with Saudi Aramco to extend contracts for four of its drillships and was looking to win contracts for three jack-up rigs.

Shell’s Qatari GTL Plant Starts Two Month Partial Maintenance

Pearl GTL can produce 140,000 barrels per day of gas-to-liquids products and 120,000 barrels per day of natural gas liquids and ethane.

Saudi To Hike April Crude OSPs For Asia, Arab Light

Higher OSPs would come as a vote of confidence by the OPEC kingpin in oil demand recovery.

Saudi Aramco Sees Jizan Refinery’s First Units Starting Up In 2017

The 400,000 barrels per day refinery is part of a $20 billion plan to develop an industrial city in Jizan.

Oil Rises To $59 As Saudis Say Demand Growing

Oil fell on Tuesday after a bigger-than-anticipated rise in U.S. crude oil stocks.

Saudi’s Naimi Says Oil Demand Is Growing As Prices Stabilise

The price of crude rebounded from a near six-year low to around $60 per barrel this month.

Oil Prices Dip As Worries Over US Oversupply Drag

Brent futures dropped below $60 a barrel and U.S. contracts hovered around $50.30.

Dubai Refiner ENOC Hires M&A Team, Close To $1.5 bn Loan -Sources

The state-owned company might use some of the proceeds from a $1.5 billion long-term loan for its expansion plans.

With Solar Costs Falling, GCC Govts Should Speed Up Projects – Expert

Regional governments should ditch existing, outdated roadmaps for installing solar, says expert.

Saudi Aramco Extends Bidding For Unconventional Gas Work -Sources

The project will involve building processing facilities, wellheads and pipelines for gas in Turaif.

Oil Falls Sharply After US Crude Inventories Rise

Brent crude oil prices slipped below $59 a barrel on Thursday.

Saudi Arabia’s Oil Output Rising, At About 10m

The estimate suggested the country is hewing tightly to the strategy of protecting market share rather than cutting production to try to inflate prices.

Saudi Crude Oil Exports Drop To 6.934m bpd In December

Exports fell by 362,000 barrels per day from 7.296 million bpd in November 2014.

Qatargas, Pakistan Close To 15-Year LNG Supply Deal – Sources

The first shipment is expected to be received by March, according to sources.

Oil Prices Dip After Strong Rally Earlier This Week

Analysts said that the drop was a reaction to soaring prices of the past two weeks, which many say was overblown.