The United Arab Emirates and Saudi Arabia appear to have reached a compromise that will allow OPEC to continue in its moderation of the oil market.
United Arab Emirates
Saudi Arabia and the United Arab Emirates cranked up the tension in their OPEC standoff as the rare diplomatic spat between long-time allies leaves the global economy guessing how much oil it will get next month.
Adnoc has set out a further investment of $165 million to improve drilling performance, through the issue of four packages.
Mubadala Investment and Italy’s Snam have signed a memorandum of understanding (MoU) on hydrogen development in the United Arab Emirates.
Abu Dhabi National Oil Company (ADNOC) will supply Indonesian national oil company Pertamina with liquefied petroleum gas (LPG) and sulfur in a four-year deal worth around $2 billion.
Egypt and Israel are working on plans to expand the East Mediterranean Gas Forum (EMGF) into energy security, electricity infrastructure and emissions controls.
The Suez Canal Authority (SCA) has denied that the reopening of the Eilat-Ashkelon pipeline would have an impact on flows through the Egyptian waterway.
The day before US President Joe Biden was inaugurated in Washington DC, Adnoc’s CEO was speaking in support of the ties that bind the two.
A former senior boss at Petrofac has pleaded guilty to further charges of bribery in a Serious Fraud Office (SFO) investigation related to contract wins worth billions of dollars.
Oil demand will grow at “a little over 4 million barrels per day” in 2021, King Abdullah Petroleum Studies and Research Centre (KAPSARC) president Adam Sieminski has predicted.
The US Department of the Treasury has imposed new financial sanctions on Iran’s oil industry.
Israel and the United Arab Emirates have opened talks over an oil pipeline linking the Red Sea with the Mediterranean, whose operations Israeli officials treat as top secret.
Turkey’s Ministry of Foreign Affairs has warned that any attempts by General Khalifa Haftar to target its interests in Libya would have “severe consequences”.
Energy service firm Sparrows Group has created more than 150 new positions in the United Arab Emirates (UAE) after winning contracts worth more than £55 million over the past three months.
Saudi Aramco hired two Singapore-based traders and began dealing in fuel at the Middle East’s main bunkering port as the world’s biggest oil exporter expands further into the trading business.
The Arab countries isolating Qatar do not seek to force out the country’s leadership but are willing to cut ties if it does not agree to their demands, a top United Arab Emirates official has said.
Lawyer and Middle East business expert Hugh Fraser has been inducted into a global networking initiative set up to help Scottish firms break international markets.