UAE
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.
News
January 13, 2021
With demand still fragile, shale companies “are wise not to jump the gun and overproduce during the recovery year,” UAE Energy Minister Suhail Al Mazrouei said in an interview, adding they “need to be careful not to flood the market.”
News
January 11, 2021
“The market has now reached a price level that potentially doesn’t reflect current fundamentals,” said Ole Hansen, head of commodities strategy at Saxo Bank A/S. “Oil could be next in line” to suffer from a stronger dollar after other commodity prices came under pressure.
News
January 08, 2021
Government-owned Abu Dhabi National Oil Co. set Murban crude at a premium of 75 cents a barrel to the regional benchmark, according to a notice from the producer.
News
January 04, 2021
The difference of opinion between Saudi Arabia and Russia, the two de-facto leaders of OPEC+, could make for another tricky meeting. While Russia appeared to be outnumbered, the group typically requires a consensus among all members before concluding talks.
News
December 24, 2020
Rollout of coronavirus vaccines and improvement in ties between the United States and China are likely to improve demand for oil, Energy Minister Suhail Al-Mazrouei told Sky News Arabia. “Recovery will be gradual, and won’t happen in a quarter or two,” he said.
News
December 10, 2020
OPEC’s third-largest oil producer and Israel held their first natural gas and petroleum working group meeting, UAE’s state-run WAM news agency reported on Thursday.
News
December 09, 2020
Government-owned Abu Dhabi National Oil Co. picked Occidental to explore for oil and natural gas at a block in the desert along the UAE’s border with Oman, ADNOC said Wednesday in a statement. The block is adjacent to an exploration area that ADNOC awarded to Occidental last year.
News
December 08, 2020
While OPEC’s third-largest producer will still reduce supply to Asia in January, the curbs won’t be as deep as this month in percentage terms.
News
December 04, 2020
The UAE’s multi-billion-dollar investments to grow oil market share plays into a wider shift in the dynamic between Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed and Saudi Arabia’s Crown Prince Mohammed bin Salman over who in the region holds sway on the international stage.
News
October 13, 2020
NTS Group has acquired Amega West Services, a market leader in the manufacture, repair and rental of legacy and specialized drilling equipment used in offshore and land-based oil & gas extraction applications, from Carpenter Technology Corporation.
News
September 17, 2020
In recent months, the UAE has become one of the worst quota-breakers among the Organization of Petroleum Exporting Countries and its allies. The UAE made just 10% of its pledged cuts in August, according to the International Energy Agency.
News
September 15, 2020
The United Arab Emirates almost entirely disregarded its commitment to OPEC+ production quotas last month, when it opened the taps even further, according to the International Energy Agency.
News
September 02, 2020
The strategic investment will leverage the rental income streams from select ADNOC real estate assets under a 24-year master lease agreement. The investment will unlock new pools of global institutional long-term capital for ADNOC, while supporting investment in its core business and strategic growth projects.
News
August 24, 2020
Weir Oil & Gas Dubai has signed a three-year agreement for servicing and repairing pumps and motors with a national oil company in the UAE. The contract secures the provision of Weir Oil & Gas Rotating Equipment services, machine shop services, emergency manufacturing and site works.
News
August 17, 2020
Abu Dhabi has been merging some companies as it looks to bolster the economy and diversify from hydrocarbon production. Earlier this year, it decided to combine utilities Taqa and ADPower.
News
July 01, 2020
Brooge Energy Ltd. expects new tanks at its oil-storage terminal in the United Arab Emirates to be fully operational by the end of the year, with a single customer booked to lease all the additional capacity.
News
June 24, 2020
Foreign investment into ADNOC’s infrastructure unlocks significant capital to reinvest in ADNOC’s strategic growth projects and reinforces the UAE as an investment destination of choice.
News
May 20, 2020
Scheduled for completion in early 2021, Lamprell's scope of work is specific to the Mahani Extended Well Test project and includes hook-up and installation at the well, existing systems upgrade, associated tie-ins and a new 25 km export pipeline.
News
May 20, 2020
The award includes the provision of general and advanced non-destructive testing (NDT) and fabric maintenance inspection services across the operator’s onshore and offshore facilities in the Middle East.
News
May 15, 2020
Despite skepticism over the efficacy of the measures unveiled in mid-April by Saudi Arabia, Russia and their partners, compared to the immense hit to demand, the impact has been substantial. Oil prices have recovered by 60% in the past three weeks, as a pick-up in fuel use is complemented by the supply cuts.
