The Abu Dhabi company has signed an exclusive agreement with Swiss firm Chemlube SA
Mazroui said that he hoped a plan could be put to ministers at OPEC’s next meeting in June
The two companies are also working together on a petrochemicals complex
Oil also gained as the US dollar weakened to a 15-month low against the yen
“Market volatility is unfortunate but ultimately it is the fundamentals that I watch,” said the kingdom’s energy minister
Russia’s Dmitriev said a deal between OPEC and non-OPEC members to cut crude oil supply was stabilising the oil market
The IEA has raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day
Hydrogen from the facility will be used to power cars at the Expo 2020 site
“The market is only expected to return to balance towards the end of this year,” OPEC said
Production is expected to reach 40,000 bpd by 2020
Saudi Arabia wants to diversify its energy mix by using renewables
The company’s revenues were also boosted by higher oil prices
ADNOC said it was the first time Indian oil and gas companies had been given a stake in Abu Dhabi’s hydrocarbon resources
Firm’s president Badr Jafar said the company was keen to engage in the oil and gas sector in the south of Iraq
ADNOC said the upgrade would allow it to free up more valuable crude for export
The Taweelah – Jebel Ali pipeline began transferring gas between the two emirates in 2001.
The project will reach financial close by February 28
Sources close to the IPO said decisions must be taken by March
The country’s expansion plans would mean it exceeds the current output of Iraq and Iran
Brent crude is on track for a fifth straight monthly gain
The UAE’s energy minister said in September that the first reactor would definitely be operational in 2018
Pertamina would have the rights to supply 20 per cent of the crude for the refinery
The plant aims to treat 1.82 million tonnes of sold waste a year
The United States is not participating in cuts led by the kingdom and Russia
The company plans to open 13 new petrol stations this year
China’s state-owned oil companies were reported to have proposed a similar deal last year
Electric vehicles could become comparable to traditional combustion engine vehicles by 2023, the bank forecasts
Union announced it was in the final stages of the sale a week and a half ago
The plants will have capacity of 240,000 cubic metres of water per day
A oil supply cut deal is due to expire in December