While global investments are expected to fall by around 20 per cent in 2015 versus 2014, in Gulf countries the reduction is likely to be just 5 per cent.
The increase is in line with the growth in world consumption, which is likely to increase to 105 million bpd in 2025.
The syndication phase was launched on Wednesday and will allow additional lenders to join in the facility.
The slump in the previous session was triggered by a shock jump in U.S. crude inventories and record Saudi output.
Bahri expects to book revenues of at least $67 million annually from the deal.
Halving of oil prices from $115 a barrel in June on global oversupply is hurting OPEC’s less wealthy members outside the Gulf.
Rules introduced in the last few years require homes and businesses to install insulation and tighten standards for air conditioners.
The EIA said U.S. oil production growth was slowing more quickly than expected, while demand was higher than earlier forecast.
The Kingdom produces more than 10 per cent of the world’s crude.
The Saudi oil minister also said he expected oil prices, that have languished near six-year lows, to improve in the near future.
The new 400,000 barrel per day refinery had previously started exports of diesel and gasoline.
Brent regained ground after tumbling up to five per cent on Thursday, when a preliminary nuclear deal was reached between world powers and Iran.
The new funding will be used to finance the company’s current and future projects and international expansion plans.
The UAE is building an LNG import facility in Fujairah, known as EmiratesLNG, with a capacity of nine million tonnes a year.
The new firm will provide wireline and mechanical intervention services for oil and gas wells.
The company lost Dhs3.63 billion in the fourth quarter of 2014.
Testing of the plant’s performance will take between three and six months, the company said.
OPEC supply has risen in March to 30.63 million barrels per day (bpd) from a revised 30.07 million bpd in February, according to the survey.
The plant, located in Jubail Industrial City, will manufacture up to 63,000 tonnes per year of polybutylene terephthalate (PBT) resin.
The cash will be used to finance a number of projects that Shandong is currently working on.
The loan will replace an existing $4 billion facility due to mature later this year.
Saif Humaid Al Falasi will replace Saeed Al Khoory, who has served as ENOC’s CEO since 2007.
An official said that tankers were operating in a safe and usual manner through the Bab el-Mandeb strait.
Saudi Kayan had said earlier that it would shut several units at its petrochemicals complex in Jubail for about five weeks.
The utility last week disclosed it was in talks with an unnamed Gulf investor, raising hopes that it could receive fresh funds and emerge from a crisis.
The conflict could potentially damage Bab el-Mandeb passage through which nearly 4 million barrels of oil are shipped daily to Europe, the United States and Asia.
These measures include “securing all industrial safety and security requirements and raising the level of security measures of oil installations.
The plant, in Jubail, is operated by Sahara & Ma’aden Petrochemicals Co (SAMAPCO) and will be offline for 25 days from April 1.
The comments appear to counter some market forecasts that the U.S. oil glut may push prices to as low as $20-$30.
Pickens revised his previous forecast which said oil prices would reach the $100 level as early as this year.