The oil-price crash and the virus’s impact on energy demand have changed the calculations for energy companies’ projects
The four units at Barakah will generate up to 25 per cent of the UAE’s electricity demand
Upon completion in mid-2022, the upgrade will allow ADNOC to process up to 420,000 bpsd of heavier and sourer grades of crude oil in Ruwais
Deploying technological tools will help regional oil and gas operators improve worker health and safety and innovate to find new solutions
Its revenue for H1 2020 stood at Dhs7.95bn, down 22.6 per cent from Dhs10.27bn year-on-year
Saudi Aramco may keep capex, most of which is spent on exploration and production, at a similar level until at least 2023
Aramco will pay a dividend of $18.75bn for the quarter
China’s state-owned oil giant is reportedly conducting advanced discussions with BP for a 10 per cent stake in the Khazzan natural gas field
The UAE is the first Arab country, and the 33rd nation globally, to produce nuclear energy
OPEC and allied producers have started to ease output curbs amid weakening demand
Petrol prices will stay the same for the fifth consecutive month
Located in Al Dhafrah, the Barakah plant is one of the largest nuclear energy new build projects in the world
As much as 60 billion tons of emissions, about twice what the world spewed out in 2019, could be prevented if money is spent in these new markets
In the wake of the Covid-19 pandemic and plummeting oil prices, GCC governments must reconsider their approaches to build diversified economies
ENOC Group owns and operates ten terminals with a total combined storage capacity of 6.6 million cubic metres across 346 tanks
Brent futures for August settlement gained 3 cents to $42.22 a barrel on the ICE Futures Europe exchange as of 12.03pm in Singapore
Prince Abdulaziz said the next two weeks will be “critical” for OPEC+ to demonstrate all countries are adhering to agreed production cuts
While oil has rebounded rapidly since April as OPEC+ production cuts kicked in and US output fell, the rally fizzled last week
Futures in New York fell below $35 a barrel after losing 8.3 per cent last week
Murban for March sold at a $1.88 premium over the regional benchmark before plunging to discounts. For July, it will sell at a $1 premium
Brent crude, the international benchmark, fell 2.5 per cent to $41.23 a barrel at 4.29pm in London, erasing earlier gains
The total installed capacity is 11,700MW of electricity
Production cuts are meant to be eased to about 7.7 million barrels a day in July
Producers have lowered global oil supply by around 14-15 million barrels a day
Oil has surged about 75 per cent this month as pockets of demand return
Aramco’s recovery has been achieved on much smaller share volumes than its international counterparts
There’s still a risk, however, that oil’s recovery could be derailed if the pandemic worsens
OPEC+ will look at all options when it meets again in June, Mohammad Barkindo said
Crude demand of about 100 million barrels a day prior to the pandemic plummeted by about 30 per cent last month
Saudi Arabia aims to pump just under 7.5 million barrels a day in June, compared with an official target of about 8.5 million a day