#oil

Abu Dhabi raises February Murban crude pricing after Saudi boost

Abu Dhabi pumps almost all of the oil in the UAE

Oil steady near $50 after surging on Saudi output cut

The kingdom’s pledge comes amid more stay-at-home orders and travel restrictions to rein in a surge of infections

oil-pumps

Kuwait makes three oil and gas discoveries

The discoveries were made in the largely unexplored western and northwestern areas of the country

UAE announces fuel prices for January 2021

This is the 10th consecutive month that prices have stayed unchanged

Saudi Arabia announces discovery of four new oil and gas fields

Saudi Aramco is continuing to work on determining the size and volume of discovered fields

UAE sees gradual oil demand recovery in 2021 – minister

Rollout of coronavirus vaccines and improvement in ties between the US and China are likely to improve demand for oil

Oil slips with new coronavirus strain threatening fuel demand

More than 40 countries are restricting flights and effectively isolating the UK

Oil falls below $48 with virus mutation raising lockdown risks

The mutation comes as vaccines are being rolled out in several countries and as the US closes in on a stimulus plan

OPEC+ will react faster, be more hands-on with oil market, Saudi, Russian officials say

Saudi Energy Minister met in Riyadh on Saturday with Russian Deputy Prime Minister

Oil rally pauses after report points to rising US stockpiles

US gasoline stockpiles expanded by 828,000 barrels last week

Oil market receives boost as OPEC+ agree to gradual output hike

Members have decided to add 500,000bpd of production to the market next month, then hold monthly meetings to decide on subsequent moves

Oil extends drop as OPEC+ struggles for consensus on output plan

Oil has just capped its biggest monthly increase since May on optimism energy demand will rebound as Covid-19 vaccines are rolled out in the coming weeks

UAE-Japan

Japan imports nearly a third of its crude oil in September from the UAE

Japan imported a total of 64.212 million barrels of crude from around the world in September

Top 10 countries with the world’s largest oil reserves

The oil market has been hit hard in 2020, with prices plummeting to record lows

Abu dhabi global market

ICE to launch trading in Murban futures contracts in Abu Dhabi in Q1 2021

ICE had announced plans in November last year to launch the platform in partnership with ADNOC

Saudi Arabia may face budget squeeze after 2021, Moody’s says

Saudi Arabia published an overview of its spending for the next three years that envisages annual cuts to help contain its fiscal deficit

Saudis raise oil prices for Asia in sign of market strength

The Organization of Petroleum Exporting Countries and allies including Russia are to meet on November 30-December 1 to review policy on production

The growth trajectory of Oman’s startup sector

Oman’s startup and innovation ecosystem is picking up pace

UAE announces fuel prices for October 2020

Prices will remain unchanged for the seventh consecutive month in October

Saudi Aramco discovers two oil, gas fields in north of kingdom

Aramco said it will drill more wells to evaluate how much energy the fields hold

Oil holds at five-month high as hurricane nears US Gulf Coast

Oil prices will probably continue to rise as excess inventories are used up

Abu Dhabi returns to dollar bond market with multi-tranche deal

Abu Dhabi raised $7bn in April also through a three-tranche bond offering

Kuwait’s state oil company picks adviser to merge units

KPC is reportedly planning to combine its eight business units into four to streamline operations

Saudi Aramco suspends $10bn China oil refinery venture

The oil-price crash and the virus’s impact on energy demand have changed the calculations for energy companies’ projects

ADNOC Distribution

ADNOC Distribution net profit dips 22.4% in H1 2020

Its revenue for H1 2020 stood at Dhs7.95bn, down 22.6 per cent from Dhs10.27bn year-on-year

Oil prices

Saudis seen cutting oil price for first time in four months

OPEC and allied producers have started to ease output curbs amid weakening demand

ADNOC hires Morgan Stanley veteran Klaus Froehlich as CIO

Froehlich spent 16 years working at Morgan Stanley in Europe and the Middle East

Oil falls again with virus resurgence casting doubt on demand

US gasoline futures tumbled the most in two months amid fears that lockdowns may need to be re-imposed

Oman Muscat

Moody’s downgrades Oman for a second time in 2020 as oil dips

This year, Oman trimmed its budget expenditure and announced liquidity support in an effort to provide some relief from the Covid-19 shock

Oil holds near $42 while investors weigh demand against virus

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