The United Arab Emirates banned ships arriving in its waters that sail under the flag of Cameroon — a move that distances the emirate from risky vessels that have been assembled to transport sanctioned oil.
The United Arab Emirates will increase its output target to 3.075 million barrels a day in January, or about 135,000 barrels a day more than it pumped last month.
Lamprell has announced that Neil Millar will be returning to the business as its newly appointed chief operating officer, following six years away from the firm.
The UK-based Petrofac (LON: PFC) has secured an engineering, procurement and construction (EPC) lump-sum contract with ADNOC in the United Arab Emirates (UAE).
Trafigura has warned of further challenges for the energy, and metal, markets, with higher prices for some time, although also reporting record profits.
Boris Johnson has declared Saudi Arabia and the United Arab Emirates "key international partners" in efforts to reduce dependence on Russian energy after the invasion of Ukraine.
UK drivers face “range anxiety” as a result of fuel shortages, while a cold winter could push Brent prices to $100 per barrel, BofA Securities has warned.
An investigation into allegations of bribery at Petrofac, which wrapped up yesterday, “will unlock the lucrative” Saudi Arabia and United Arab Emirates (UAE) markets.
Petrofac has been cut off from three of its “largest and most promising” oil markets globally after being suspended from Adnoc tenders, according to new analysis.
Qatar’s ruler landed in Saudi Arabia on Tuesday to a warm embrace from host Crown Prince Mohammed bin Salman, hours after their nations re-established travel ties and eased a longstanding regional dispute.