Egypt’s non-oil private sector economy saw renewed growth in April, according to latest PMI data. Output expanded for the first time in nearly one-and-a-half years and new business increased at a faster rate. Input purchasing and job numbers also rose, while business sentiment towards the year-ahead outlook for activity strengthened.
A UAE official said on Tuesday that the oil tanker MT RIAH is not owned by the UAE.
Saudi Arabia on Tuesday said that drones attacked one of its oil pipelines as other assaults targeted energy infrastructure elsewhere in the kingdom.
The number of suspects Russia is investigating over a major oil contamination in the Druzhba pipeline earlier this year has risen from 10 to 13, RIA news agency reported on Friday, citing a lawyer for one of the suspects.
Brazilian state-run oil firm Petrobras is considering an end to its participation in a programme certifying good governance and limited political interference in state companies set up by the Sao Paulo stock exchange, two sources told Reuters.
Dr Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (Adnoc) met with Alexander Novak, Minister of Energy of the Russian Federation, during a visit to Moscow, as Adnoc explores opportunities
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.
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.
Saudi energy Minister Khalid al-Falih said on Saturday that he hopes oil producers will be able to balance the oil market before next year. “We hope that we will balance the market before next year.
A wide range of development projects are underway in the UAE’s east coast emirate of Fujairah as it seeks to diversify its economy. The Port of Fujairah, its adjacent anchorage and the Fujairah Oil Industry Zone, FOIZ, are already well-established as the second largest oil bunkering centre in the world,