UAE
News
July 01, 2021
A preliminary deal struck on Thursday to increase oil production by 400,000 barrels per day was thrown into chaos when the United Arab Emirates threatened to block the deal without a higher output quota for itself.
News
June 25, 2021
The United Arab Emirates could become the first nation among the Organization of the Petroleum Exporting Countries to set a net-zero goal, a move that would please Western countries pushing for stronger climate commitments but won't require it to sell less oil.
News
June 18, 2021
China’s Silk Road Fund and Hassana Investment Co., controlled by the Saudi Arabian government, joined a group investing $12.4 billion in Saudi Aramco’s oil pipelines.
News
June 03, 2021
Whichever company wins would partner with Egypt’s sovereign wealth fund in taking joint full ownership of Wataniya Petroleum, a fuel distribution firm that has more than 200 filling stations and is run by the North African nation’s military.
News
May 26, 2021
Abu Dhabi’s state oil firm plans to raise $1.64 billion by selling more shares in its fuel retail unit and by issuing bonds, as the emirate taps its energy wealth to attract investment.
News
May 25, 2021
ADNOC awarded a $744 million contract to China's CNPC for the full field development of the Belbazem Offshore Block, underscoring ADNOC's drive to unlock and maximize value from all of Abu Dhabi’s fields as it expands its oil production capacity to 5 MMBPD by 2030.
News
May 04, 2021
The Abu Dhabi National Oil Company (ADNOC) announced it has successfully implemented an innovative initiative to drive efficiencies in its tendering process. This program supports ADNOC’s ongoing efforts to enhance its approach to procurement and maximize value for ADNOC and its community of suppliers and service providers.
News
April 29, 2021
In the space of a few weeks, Saudi Arabia, the United Arab Emirates, Qatar, Oman and Kuwait have all accelerated multi-billion-dollar plans to sell energy assets or issue bonds off the back of them.
News
April 21, 2021
Abu Dhabi is weighing the sale of a stake in its biggest utility as the oil-rich emirate seeks more international investment in its marquee assets, people familiar with the matter said.
News
April 14, 2021
Petrostates in the Persian Gulf are trying to bolster their economies after they were hit last year by coronavirus lockdowns and the crash in oil prices. They also want to diversify from fossil fuels by using money raised from their oil assets to invest in other industries.
News
March 26, 2021
On March 29th, when Abu Dhabi begins selling futures contracts for its oil and then shipping the barrels from Fujairah, it will mark an aggressive shift by the emirate. It hopes to change the way nearly one-fifth of the world’s crude is priced.
News
March 17, 2021
Abu Dhabi National Energy Co. is considering options for its oil and gas assets, including a potential sale, as the state-owned utility focuses more on power generation, people familiar with the matter said.
News
March 05, 2021
Brent crude now trades above fiscal breakeven prices for the four biggest oil producers in the Middle East after Saudi Arabia convinced fellow OPEC+ members to keep output largely unchanged.
News
March 01, 2021
Abu Dhabi’s de facto ruler, Crown Prince Mohammed Bin Zayed, has cemented his control over the emirate’s state energy company by becoming chairman of a newly-established board of directors.
News
February 17, 2021
“I must warn once again against complacency,” Energy Minister Prince Abdulaziz bin Salman said on Wednesday at an online conference held by the International Energy Forum in Riyadh. “The uncertainty is very high and we have to be extremely cautious. The scars from the events last year should teach us caution.”
News
February 10, 2021
Cosmo will invest as much as $145 million in the exploration phase at Offshore Block 4, government-owned ADNOC said Wednesday in a statement. Abu Dhabi holds most of the oil in the United Arab Emirates, the third-largest producer in OPEC.
News
February 10, 2021
While prices continue to surge, some of the biggest moves in the past day have come at the front of the futures curve. Brent’s nearest timespread has surged -- a key sign of market tightness -- while key swaps tied to the physical North Sea market have also increased amid frenzied trading of derivatives late Tuesday.
News
February 01, 2021
OPEC boosted crude production as planned last month, but the increase was tempered by disruptions at long-troubled member nations.
News
January 22, 2021
Iraq plans to cut oil output in January and February to make up for breaching its OPEC+ quota last year, according to the state company that markets the nation’s crude.
News
January 19, 2021
The United Arab Emirates will use carbon-capture technologies to create what’s known as blue hydrogen on its path to becoming a major exporter of the fuel, Sultan Al Jaber, CEO of Abu Dhabi National Oil Co., said at a virtual conference on Tuesday.
News
January 15, 2021
Mubadala Investment Co., Abu Dhabi National Oil Co. and ADQ have formed an alliance to produce hydrogen using natural gas and renewable energy and market it overseas as well as in the United Arab Emirates, ADQ said in a statement.
