Kurdistan thumbs its nose once more to Federal Iraq in a long-running feud that threatens to boil over
The state-owned utility posted a net profit of Dhs106 million dirhams ($28.9 million) for the first quarter, compared with Dhs534 million for the year-ago period.
Saudi Aramco’s Omar Abdulhamid was appointed as the head of research, the second most senior post at OPEC.
Both Al Suwaidi Power Co and Al Batinah Power Co aim to each offer a 35 per cent stake to the public.
A source has said Qatar Solar Technologies (QSTec) is willing to take a minority stake in the German solar company.
Japanese Oil Development Co. owns 12 per cent of the Abu Dhabi Marine Operating Company oil and gas concession which expires in 2018.
Abu Dhabi clean energy company Masdar has signed an MoU with UK’s GIB.
KSA’s oil minister said it is good news that U.S. crude output has jumped to the highest level in around 20 years.
The 30-year venture puts Shell in position to renew its role in the UAE’s largest onshore oil concession when that contract comes up for renewal next year.
Saudi Oil Minister Ali al-Naimi is giving a major energy speech in the US on Tuesday.
The move aims to improve operational efficiency and will not lead to staff redundancies, confirms fuel retailer.
The oil storage terminal, with a storage capacity of over 141,000 cubic metres, will have a direct pipeline connection with the Dubai airport.
The UAE currently produces around 2.7 million tonnes and relies on imports for the rest, according to officials.
Abu Dhabi-listed Dana Gas has won a bid to develop an offshore block in Egypt’s Nile Delta.
Brent has lost nearly 10 per cent since the start of April as growth in the United States and China slowed.
Construction of the $1.5 billion condensate refinery is expected to be completed by the second half of 2016.
The company, which employs 40,000 people spread across 40 countries, made a net profit of around $6.59 billion in 2012.
Net income for the three months to March 31 was 6.56 billion riyals ($1.75 billion) compared to 7.27 billion riyals in the same period last year.
The world’s largest oil exporter shipped around 7.09 million bpd in January.
The Train 3 unit produces 3.2 million tonnes of LNG annually
Recent weak data from China and the United States has caused concern about oil demand.
Both companies are involved in LNG projects in Qatar and have shared interests in LNG terminals in the UK, Italy and the US.
Aramco said Manifa’s output will reach 500,000 bpd by July and 900,000 bpd by the end of 2014.
The facility, located in Duqm, will be able to store up to 200 million barrels of crude oil.
The deal is the first joint investment by Qatar Petroleum International and Britain’s biggest energy supplier.
The two new plants will together add 1,500MW of power to the sultanate’s current existing capacity of 4,500MW.
The Kingdom has awarded up to 400,000 tonnes of cracked fuel oil to SITME.
South American nation Venezuela tops the list, followed closely by Saudi Arabia.
Energy consumption in the Middle East has outpaced gross domestic product growth, according to the World Energy Council.
The OPEC member produces three million barrels of oil per day but its gas production is relatively low.