The Kingdom also slashed its crude prices for Europe, as oil demand weakens.
Korea Electric Power Corp, which is already building four nuclear power plants in the UAE, will begin talks to construct four more in the country.
Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.
The oil supply from the OPEC nations in March this year increased to its highest level since October 2008.
Oil edges down as US crude stocks offset Iran fears.
Saudi Arabia is right to be concerned about the rise of new hydrocarbon superpowers, writes Yadullah Ijtehadi.
The Kingdom is planning to spend more than $100 billion to establish 16 nuclear energy plants in the country.
The International Energy Agency has warned that if crude oil prices don’t fall, oil import bills may soar to record levels this year.
The UAE lender’s loan will help Indonesian coal producer AKT to meet its working capital needs.
The Kingdom’s oil exports rose 143,000 barrels per day in January compared to December, according to the Joint Data Initiative.
Peter Shaw-Smith outlines the global story of gas, which countries are producing the most LNG, and why it matters.
Qatar Petrochemical Company has awarded construction contracts worth QR604 million to expand its ethylene plant.
The region’s hydrocarbon reserves account for almost a third of the world’s reserves, says QNB Capital.
Despite demand worries, OPEC oil production reportedly reached 30.97 million bpd in February, the highest since November 2008.
The Gulf state is initially planning to import the equivalent of around 3 million tonnes a year of LNG from Russia’s Gazprom.
A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.
Saudi Arabia has increased the price of its Arab Light crude oil for customers in Asia by $1.25 a barrel for April.
National oil companies that are globalizing must be prepared to face complicated, international risks.
Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.
The ten-year Malaysian ringgit-denominated Islamic bond carried a 4.65 per cent profit rate.
The Fund said that higher oil prices are posing a rising threat to the global economy.
The Kingdom is concerned about keeping the global oil market well supplied as demand from Asian countries increases.
DEWA has awarded ILF Engineers a consultancy contract for two solar projects, including its $3.26 billion energy park.
Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.
Aramco signed an initial deal with Indonesia’s state energy firm, PT Pertamina, to look into building a petrochemicals project in Indonesia
Brent crude slips to $118 as a final decision on Greece’s bailout package faces a possible delay.
The two companies are in negotiations to build a methanol complex in Trinidad and Tobago.
Abu Dhabi’s Dolphin Energy will use the proceeds to meet its refinancing needs.
Saudi Arabia might increase crude oil supplies to South Korea as Seoul looks for alternatives to Iranian oil.
The pipeline will supply gas to the town of Duqm and is estimated to cost around $200- 220 million to build.
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