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    Saudi Arabia gives 4% Aramco stake to public investment firm

    Saudi Arabia gives 4% Aramco stake to public investment firm

    16 Apr 2023

    Saudi Arabia’s Crown Prince Mohammed Bin Salman announced on Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to a subsidiary of the kingdom’s sovereign wealth...

    Adnoc Drilling secures $412m Integrated Drilling Services contract

    Adnoc Drilling secures $412m Integrated Drilling Services contract

    13 Apr 2023

    Adnoc Drilling Company  (Adnoc Drilling) on Thursday confirmed the award of a five-year contract for the provision of Integrated Drilling Services (IDS) totaling $412 million from Adnoc Offshore commencing in...

    The economics of OPEC’s cut in oil output

    The economics of OPEC’s cut in oil output

    03 Apr 2023

    It is not surprising that market experts are debating the announcement made by the Organisation of Oil Exporting Countries (OPEC) + on Sunday to cut oil production between May and...

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    Oil prices surge on Opec+ move to cut their production target

    03 Apr 2023

    Oil prices surged on Monday after Saudi Arabia and other Opec+ producers announced a surprise cut in their output target, a move that rippled through stock markets, though the dollar...

    UAE, Saudi, Oman and Kuwait to cut oil production from May to end of 2023

    UAE, Saudi, Oman and Kuwait to cut oil production from May to end of 2023

    02 Apr 2023

    Gulf Today Report Suhail Bin Muhammad Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure, said that the United Arab Emirates will voluntarily reduce its oil production by 144,000...

    US dollar gets pushed in global oil trade

    US dollar gets pushed in global oil trade

    08 Mar 2023

    It looks like that the economic sanctions imposed by the G7 and other European Union (EU) countries against Russia in the wake of the war in Ukraine turns out to...

    Adnoc Drilling signs $252 million deal

    Adnoc Drilling signs $252 million deal

    02 Mar 2023

    Adnoc Drilling Company (Adnoc Drilling) on Thursday announced that it has signed an agreement to purchase ten newbuild hybrid power land drilling rigs (the rigs) for a total of $252...

    Oil contracts rebound as Russia cuts output

    Oil contracts rebound as Russia cuts output

    11 Feb 2023

    Oil contracts rebounded on Friday after Russia announced it would slash its crude output in response to a Western price cap that was imposed on exports after Moscow’s invasion of...

    Adnoc signs agreements with 23 companies worth Dhs17 billion

    Adnoc signs agreements with 23 companies worth Dhs17 billion

    02 Feb 2023

    Adnoc, a reliable and responsible provider of lower-carbon intensity energy, on Thursday announced that it has signed agreements with 23 UAE and international companies for local manufacturing opportunities across a...

    Kuwait oil price up to $84.60 per barrel

    Kuwait oil price up to $84.60 per barrel

    02 Feb 2023

    The price of Kuwaiti oil went up by $2.10 to $84.60 per barrel on Wednesday, compared to $82.50 the day before, said Kuwait Petroleum Corporation on Thursday. According to...

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