On Feb. 6, the 400,000 barrels per day refinery will load a 60,000 tonne cargo of gasoline on the Serengeti.
Patrick Pouyanne said that despite the fall in oil prices, the company would maintain investments in its big projects.
Suhail Mohammed Al Mazroui told the Federal National Council that the government has submitted a proposal to the cabinet that will enable consumers to benefit from lower oil prices.
The company will close its Qatar plants for a total of 158 days in the first three months of the year, compared to 292 days of closures in 2014.
Some OPEC members say that prices are likely to remain high in the first half of this year.
A member of Federal National Council is expected to take up the issue of high fuel costs in the UAE in the backdrop of crude prices.
Aramco has put on hold its deepwater oil and gas exploration and drilling activities in the Red Sea because of high costs, sources said.
The fall in oil prices and the decision of OPEC to not cut output in 2015 will spur M&As in the oil & gas sector this year.
The company, an affiliate of Saudi Basic Industries Corp (SABIC), will shut its olefins plant from Feb. 1 for almost five weeks, it said.
The 79-year-old Naimi has seen at least three price crashes during his two decades as oil minister.
The price will rise 25 cents on April 1 each year until it reaches $4 per mmBtu by April 1, 2021.
UBS Wealth Management says the short-term outlook for oil remains bleak, but gains are expected in the second half of 2015.
ADNOC awarded Total a 10 per cent stake in the main land-based concession for 40 years starting Jan. 1, 2015.
State news agency KUNA estimated that diesel price reform would save the government around $1 billion a year.
The 400,000 bpd refinery, which is currently running at about 60 per cent of capacity, started gasoline output this week.
The fair oil price will be one that balances supply and demand, the chief executive said.
Qatar Petroleum International was formed in 2007 as the foreign investment arm of the firm.
Oil prices have lost nearly 60 per cent in value since last peaking in June 2014.
OPEC Secretary-General Abdullah al-Badri said oil prices may have reached a floor.
King Salman has retained veteran Saudi oil minister Ali al-Naimi, in a message aimed at calming a jittery energy market.
The consortium, led by Canada-based CPCS Transcom International Limited, will start the study this month.
Sultan bin Saeed al-Mansouri, speaking with Brent crude at about $48 per barrel, did not elaborate on why he expected the recovery.
The maintenance is not expected to have any effect on the local market, ORPIC’s CEO said.
Global financial markets reacted to the Greek election on Monday with the euro dropping to near an 11-year low against the dollar.
King Salman is expected to broadly continue Abdullah’s policies, analysts say.
The ECB’s Executive Board has proposed a programme that would allow it to buy $58 billion of bonds a month starting in March.
The decrease in oil prices has not had an impact on electricity generation in Dubai, said Saeed Al Tayer.
Badri said, if OPEC had reduced its supply, non-member countries would have increased production, forcing OPEC to implement further cuts.
The closure of the facility in Ras Al Khair belonging to Ma’aden Phosphate Company will have no significant financial impact.
Economies such as Qatar, Iraq, Libya and Saudi Arabia will be hit hardest by the more than 50 per cent decline in petroleum prices, the IMF said.