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Top oil producers, meeting in Abu Dhabi on Sunday, demanded new “strategies” based on production adjustments to deal with market discrepancies between high supply and low demand. (Shutterstock)
November 14, 2018 - 10:57 GMT
Oil prices rose nearly 2 percent on Monday, recording the biggest daily rise in more than a month, after Saudi Energy Minister Khalid al-Falih said that the Organization of the Petroleum Exporting Countries (OPEC) will hold its position as the “World Bank” for global oil markets.
Saudi Aramco, ADNOC Sign Agreement to Invest in Gas Exploration. (Shutterstock)
November 14, 2018 - 10:44 GMT
Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) signed on Monday a strategic framework agreement to create opportunities for cooperation in the natural gas and liquefied natural gas (LNG) sector, which has the potential to enhance the revenue growth in a market of strategic importance to both companies.
US Imposes New Sanctions on Hezbollah Citing Iraq Relations. (Shutterstock)
November 14, 2018 - 10:37 GMT
The United States imposed on Tuesday new sanctions against Hezbollah’s financial network, targeting officials responsible for its operations in Iraq.
U.S. President Donald Trump criticized Saudi Arabia’s announced plan to cut oil production. (Shutterstock)
November 13, 2018 - 07:36 GMT
U.S. President Donald Trump criticized Saudi Arabia’s announced plan to cut oil production Monday, as tensions rose between the U.S. and its longtime Middle East ally.
H.E. Mohammed bin Salem bin Said Al Tobi, Minister of Environment and Climate Affairs, SDO & Chris Breeze, Country Chairman, Shell Oman
November 12, 2018 - 13:11 GMT
Shell Development Oman, in collaboration with the ministry and Wetlands International, hosted a book launch for “Barr Al Hikman: Shorebird Paradise in Oman”.
The Petroleum & Petrochemicals platform has a balanced portfolio of integrated projects and companies, whose activities cover the various stages of the total supply chain of the oil, gas, refining and petrochemical industries. (Shutterstock)
November 12, 2018 - 08:30 GMT
Musabbeh Al Kaabi, Chief Executive Officer of Petroleum & Petrochemicals, Mubadala Investment Company, has noted that the Petroleum and Petrochemicals platform is a core pillar of the company's business, building on Abu Dhabi’s rich heritage in the oil and gas sector.
Cooperation between OPEC and non-OPEC members will continue till 2020 to ensure a balanced oil market. (Shutterstock)
November 12, 2018 - 08:17 GMT
OPEC member countries, primarily the UAE and Saudi Arabia, are ready to meet global oil market needs in case of any politically-motivated fall in supply, said Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, and President of the OPEC Conference in 2018.
During the event
November 11, 2018 - 06:31 GMT
OCTAL participated in the IRU World Congress 2018, a global event for road transport, mobility and logistics, held in Oman and the Middle East for the first time, to debate the challenges within the logistics industry.
The airport official said “some” of the oil providers were informed by internal company decisions, but Fenianos confirmed that none of the providers would be allowed to refuel the sanctioned carriers. (Shutterstock)
November 11, 2018 - 05:01 GMT
International oil companies operating at Beirut’s airport have been warned against fueling airlines that are affected by the recent U.S. sanctions against Iran, Lebanese officials told The Daily Star Friday.
Iran underlines that the IAEA is the sole competent authority responsible for the verification of the fulfillment of safeguards obligations. (Shutterstock)
November 11, 2018 - 04:35 GMT
Iran will vigorously continue to exercise its inalienable right to develop a full national nuclear fuel cycle for peaceful purposes, said Iran’s deputy envoy to UN on Friday.
It is great for oil countries to fix goals and targets, and show the world its commitment to stabilize energy price. (Shutterstock)
November 11, 2018 - 04:07 GMT
It is great for oil countries to fix goals and targets, and show the world its commitment to stabilize energy price. At the same time, it should not fear any shortage in oil due to lack of investments. However, this must be done with reason and realistic figures in order to be believed, as well as with strict follow up and annual progress reports.
November 11, 2018 - 03:50 GMT
The U.S. has issued Iraq with a 45-day waiver from U.S. sanctions on Iran for natural gas and electricity imports, the U.S. Embassy in Baghdad announced on Friday.
Naser Aldousari, Senior Vice President, EQUATE
November 07, 2018 - 11:02 GMT
Senior government and industry leaders from across the Arabian Gulf and globally converged at an important industry roundtable, organized by the Gulf Petrochemicals and Chemicals Association (GPCA) and sponsored by EQUATE Petrochemical Company, a global producer of petrochemicals, on 7 November 2018 in Kuwait.
Egypt plans to repay all of its $1.2 billion debt to foreign oil and gas companies by the end of 2019. (Shutterstock)
November 07, 2018 - 08:06 GMT
Egypt plans to repay all of its $1.2 billion debt to foreign oil and gas companies by the end of 2019, oil ministry sources said on Monday.
U.S. President Donald Trump is cautious about the effects his sanctions will have on global oil markets. (AFP)
November 07, 2018 - 07:20 GMT
U.S. President Donald Trump said Monday he is cautious about the effects his sanctions will have on global oil markets, saying the penalties will be imposed gradually.
Fully financed by the Abu Dhabi Fund for Development, ADFD, the UAE-CREF is the largest renewable energy initiative of its kind in the Caribbean, representing a partnership between MOFAIC, ADFD, and Masdar, the project manager and implementing lead. (Shutterstock)
November 07, 2018 - 07:03 GMT
The first three renewable energy projects under the US$50 million United Arab Emirates-Caribbean Renewable Energy Fund, UAE-CREF, have broken ground in the Bahamas, Barbados and Saint Vincent and the Grenadines, the UAE Ministry of Foreign Affairs and International Cooperation, MOFAIC, announced today.