Daily Oil & Energy News
A discussion about oil-dependent economies often calls to mind an image of some anonymous Middle Eastern country almost entirely dependent on its oil exports to generate revenues. But there is Continue Reading
Prices of Abu Dhabi’s popular flagship crude grade, Murban , have dropped over the past week as refiners prefer grades yielding more low-sulfur marine fuels and as supertanker freight rates Continue Reading
The United Arab Emirates’ state-run ADNOC, long seen as one of the most conservative oil firms in the Middle East, plans an overhaul for its trading operations as it seeks Continue Reading
Shippers trying to minimize time in the Middle East after oil tanker attacks pushed up insurance costs are scaling back purchases of marine fuels from the United Arab Emirates’ (UAE) Continue Reading
The Arab countries of the Persian Gulf expressed solidarity with Saudi Arabia and the United Arab Emirates (UAE), supporting all measures that their two allies take to protect their security Continue Reading
The Abu Dhabi National Oil Company (ADNOC) and South Korea’s SK Engineering and Construction Co. Ltd (SKEC) signed an agreement on Wednesday to build the world’s single largest underground oil Continue Reading
Abu Dhabi’s flagship Murban crude has sold at a discount in Asia to its official selling price (OSP) for four straight months – the longest stretch in nearly two years Continue Reading
The oil market should reach a balance between supply and demand in the first quarter of this year, United Arab Emirates’ Oil Minister Suhail Al Mazrouei told Al-Arabiya television on Continue Reading
The United Arab Emirates have a reputation for innovative investments, so it was only a matter of time—and after a recovery in oil prices—before the Gulf state started making headlines Continue Reading
United Arab Emirates Energy Minister Suhail al-Mazrouei said on Twitter on Wednesday that 2019 was an important year for the country as it moves ahead with diversifying its energy mix. Continue Reading
Energy companies in the Arab countries in the Persian Gulf may resume issuing more debt and borrowing more money for expansion plans after oil prices plunged by 40 percent from Continue Reading
The United Arab Emirates (UAE) is now OPEC’s third-biggest producer, having surpassed Iran whose output has plunged below 3 million bpd with the U.S. sanctions on Iranian oil. The UAE, Continue Reading
The Abu Dhabi National Oil Company (ADNOC), the producer of nearly all of the oil in the UAE, began producing and exporting a new crude grade, Umm Lulu, in October, Continue Reading
The UAE expects to produce more oil in October, November to meet its customers’ requirements after having increased production in the third quarter, energy minister Suhail al-Mazrouei said Thursday. Receive Continue Reading
OPEC and allies snubbed calls from U.S. President Donald Trump to lower oil prices, saying on Sunday that they are satisfied with the “overall healthy balance between supply and demand.” Continue Reading
The United Arab Emirates (UAE) is ramping up production at a newly operational offshore field, aiming to boost its total output to around 3 million bpd, S&P Global Platts reported Continue Reading
The UAE boosted its crude production by about 85,000 b/d in July, an industry source familiar with the country’s oil operations told S&P Global Platts, as OPEC loosens the taps Continue Reading
The state oil company in Abu Dhabi said it signed contracts with a Chinese counterpart to carry out the world’s largest surveys for new hydrocarbon reserves. The Abu Dhabi National Continue Reading
The United Arab Emirates became the latest party to an OPEC-led effort to stabilize the oil market with pledges of an increase in production on Tuesday. Members of the Organization Continue Reading
The Abu Dhabi National Oil Company (ADNOC) has the ability to raise its oil production by “several hundred thousand” barrels per day, the state-run oil firm of the United Arab Continue Reading
Sharjah, the second-most populous emirate in the UAE has been subjected to repeated power cuts in the past. ( Pawan Singh / The National ) For Stock Sharjah has launched Continue Reading
United Arab Emirates’ Energy Minister Suhail Al- Mazrouei said on Monday that the oil market is moving closer to rebalancing, according to a statement sent by his ministry. Mazrouei, who Continue Reading
United Arab Emirates Energy Minister Suhail al-Mazroui said on Tuesday that OPEC and non-OPEC efforts to rebalance the oil market and encourage oil investment “are progressing well”. “OPEC is a Continue Reading
All OPEC and non-OPEC oil producers including Russia are committed to supply cuts until the end of the year, UAE Energy Minister Suhail Mohamed al-Mazrouei said on Monday. UAE’s Oil Continue Reading
Austrian energy company OMV spends $1.5 billion to take a minority stake in oil fields of the coast of the United Arab Emirates. File Photo by tcly/Shutterstock April 6 (UPI) Continue Reading
China is the next in line to take a stake in license areas off the coast of the United Arab Emirates, following European companies into the region. File photo by Continue Reading
The United Arab Emirates and Qatar have extended a concession for an offshore oilfield that the two share—but warily, since the UAE is part of a regional blockade against Qatar, Continue Reading
For the next 40 years, Japanese energy company INPEX said it would play a role in the development of oil reserves off the coast of the United Arab Emirates. INPEX said Continue Reading
S&P Global Platts released a blockchain-based product that “will allow market participants to submit weekly inventory oil storage data” to the United Arab Emirates’ Fujairah Oil Industry Zone (FOIZ) and Continue Reading
United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on Monday that OPEC and non-OPEC oil producers plan to announce in June an exit strategy from global supply cuts, Continue Reading
Abu Dhabi’s state oil company ADNOC will soon expand its investments to refineries abroad, a new report by Bloomberg indicates, suggesting the emirate is seeking to strengthen ties with its Continue Reading
Oil production from a field tapped from artificial islands off the Emirati coast could jump to 1 million barrels per day by 2024, partners said Tuesday. Abu Dhabi National Oil Continue Reading
The United Arab Emirates will continue to reduce its oil output to meet its commitment to a global oil production cut agreement, its Energy Minister Suhail al-Mazroui said. “As part Continue Reading
Bringing new partners to the offshore sector could support the effort to boost production to 3.5 million barrels per day, the Abu Dhabi National Oil Co. said. The company, known Continue Reading
DUBAI (Reuters) – The United Arab Emirates’ energy minister said on Wednesday that he hoped a decision by Abu Dhabi National Oil Co (ADNOC) to cut crude allocations by 10 Continue Reading
Low prices combined with output cuts are weighing on growth Isolation of Qatar has added to perception of regional risks Energy-rich Gulf Arab nations have scrambled to adjust to the Continue Reading
Saad al-Kaabi, chief executive of Qatar Petroleum, gestures during a news conference in Doha, Qatar, December 11, 2016. Qatar will not cut off gas to the United Arab Emirates despite Continue Reading
OPEC oil output is likely to fall for a third straight month in March, a Reuters survey found on Wednesday, as the United Arab Emirates made progress in trimming supplies Continue Reading
Crude oil at $50 a barrel is too low for most producing countries, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. Prices have climbed almost 20 percent to Continue Reading
Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting Continue Reading
Abu Dhabi National Oil Company on Tuesday said it would cut crude supplies by 3-5 percent across its three export grades to meet commitments under an OPEC deal to curb Continue Reading
Ahmed, a Qatari civil servant, used to arrive at his office at a government ministry in Doha late in the morning and leave for home after lunch, collecting a monthly Continue Reading
Suhail Al-Mazrouei UAE’s Oil Minister Suhail al-Mazrouei said in a TV interview he did not expect any “significant growth” in shale oil output anytime soon, despite higher oil prices resulting Continue Reading
Nigeria, other states withholding payments to foreign airlines CEO says ‘not a good idea’ to carry on serving offender states Persian Gulf airline Emirates said it could scrap flights to Continue Reading
Construction on what will be the world’s tallest building by 2020 has officially started in Dubai, home to Burj Khalifa, currently world’s tallest man-made structure. The new tower sets another Continue Reading
The United Arab Emirates foresees a “correction” in crude prices by the end of the year, and the OPEC member has yet to receive an invitation to a possible meeting Continue Reading
National Bank of Abu Dhabi PJSC, the United Arab Emirates’ largest bank, said the supply of dollars in the country is drying up as the region grapples with the impact Continue Reading
The oil-price collapse will compel all producers to freeze output and no early OPEC meeting can take place without such a move, the United Arab Emirates’ energy minister said. “This Continue Reading
Gulf Cooperation Council countries may struggle to refinance $94 billion of debt in the next two years as the region faces slowing growth, rising rates and rating downgrades, according to Continue Reading
UAE’s Oil Minister Suhail Mohamed Al Mazrouei is accompanied by plaintclothes police as he arrives at his hotel ahead of a meeting of OPEC oil ministers in Vienna, Austria, December Continue Reading