The Norwegian Labour Party has joined what is now a clear parliamentary opposition to oil and gas exploration off the coast of the picturesque Lofoten islands in the north of Norway.
The sabotage operation that targeted commercial and civilian vessels near the UAE territorial waters in the Gulf of Oman, off the coast of Fujairah, is a dastardly act and those behind such reprehensible action should be forced to pay a price. It’s fortunate that there were no injuries or fatalities
The drone attacks on two pump stations on Saudi Aramco’s East-West pipeline, which transports Saudi oil from the Eastern Province to the port of Yanbu, are cowardly, dangerous and deliberate acts of terrorism that deserve a strong international response. As Saudi Energy Minister Khalid Al Falih pointed out,
Opec and its oil-producing allies shifted on Monday towards extending their daily output caps, sending oil prices racing higher before the outcome of the group’s official gathering.
Saudi Arabia raised the local price for Octane 95 to 2.10 riyals from 2.02 riyals last quarter and Octane 91 to 1.44 riyals from 1.37 riyals per litre, state oil firm Saudi Aramco said on Saturday. The change goes into effect on Sunday (April 14), the company said in a statement,
The Abu Dhabi National Oil Company (Adnoc) announced on Sunday that it has entered into a follow-on pipeline infrastructure investment agreement with the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF). ADRPBF will invest Dhs1.1 billion ($300 million),
Chevron will buy Anadarko Petroleum for $33 billion in a cash-and-stock, energizing its deep water exploration in the gulf and in the energy-rich southwest region of Texas called the Permian Basin. The deal announced Friday comes with US crude prices up 40% this year and vaults Chevron into a new league. While the combined company will remain far behind Exxon Mobil Corp. a
Saudi Aramco is set to raise $12 billion with its first international bond issue after receiving more than $100 billion in orders, a record breaking vote of market confidence for the oil giant. State-owned Aramco›s bond issue, split into maturities ranging from three to 30 years, is seen as a gauge of potential investor interest in the Saudi company›s eventual initial public offering.
The UAE-based, Grandweld Shipyards, has delivered four crew boats to Kuwait Oil Company (KOC). As per the contractual agreement signed in May 2017, Grandweld would build six Pilot Boats and four Crew Boats for KOC. Five boats have been delivered and the remaining will be delivered in June 2019.
Economic activity in the UAE is set to accelerate to 2.2 per cent in 2019, up from an estimated 1.7 per cent in 2018, according to ICAEW’s latest Economic Insight report. This will be buoyed by a pick-up in non-oil activity, rising public spending at the Federal and Emirate levels, higher investment ahead of the highly anticipated Expo 2020 and continued regional economic recovery.