UAE
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.
News
May 13, 2020
OPEC presented a bleaker assessment of global oil markets for the second quarter as the coronavirus crisis continues to drain demand, days after some of the cartel’s biggest producers pledged to make even deeper production cutbacks.
News
April 17, 2020
Petrofac received notice of termination from Abu Dhabi National Oil Company (ADNOC) of two recently awarded contracts for the Dalma Gas Development Project.
News
April 10, 2020
With the coronavirus choking fuel demand and the world awash in surplus crude, even the Middle East’s main oil-trading hub has run out of room to store unwanted barrels.
News
March 24, 2020
With OPEC’s output limits suspended and a price war under way, the group’s biggest oil producers are preparing to churn out more barrels to protect market share.
News
March 13, 2020
Abu Dhabi took a cue from Saudi Arabia and cut pricing for its crude as the world’s biggest producers prepare to flood oil markets in a race for market share.
News
March 11, 2020
As the UAE piles on to Saudi Arabia and Russia’s production hikes, is this the time for the U.S. to implement an import fee to partially protect domestic output?
News
March 11, 2020
Abu Dhabi National Oil Co. will boost crude supply to customers to more than 4 million barrels a day in April as OPEC’s third-biggest producer enters the oil-supply fray.
News
March 02, 2020
Bahrain may transfer some of its oil and natural gas assets into a proposed state-run fund in which it could sell shares to investors, as the smallest Gulf Arab country seeks to balance its budget.
