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World oil demand is foreseen to reach 98.60 mb/d in 2018

VIENNA, 12th February, 2018 (WAM) -- World oil demand is foreseen to reach 98.60 mb/d in 2018, representing growth of 1.59 mb/d, 60 thousand barrels per day higher than the previous month’s projections and mainly reflecting the positive economic...

ADNOC builds towards first oil production from one of its youngest companies

ABU DHABI, 12th February, 2018 (WAM) -- The Abu Dhabi National Oil Company, ADNOC, has announced a significant milestone for one of its youngest operating companies, Al Dhafra Petroleum, with a major capital investment to establish facilities and enable...

OPEC daily basket price stood at US$61.52 a barrel Friday

VIENNA, 12th February, 2018 (WAM) -- The price of OPEC basket of fourteen crudes stood at US$61.52 a barrel on Friday, 9th February 2018, compared with $62.69 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of...

Abu Dhabi gets bids for offshore oil

ABU DHABI: Abu Dhabi National Oil Co (Adnoc) received bids in the fourth quarter from international energy companies seeking stakes in offshore fields that pump about 25 per cent of the UAE capital’s crude. Adnoc is reviewing commercial bids from...

Adnoc, Linde to explore industrial gases unit expansion

Abu Dhabi National Oil Company (Adnoc), has signed a memorandum of understanding with the Linde Group to explore the expansion of nitrogen facilities in Ruwais, Abu Dhabi, to meet future industrial demand. This represents a continued commitment to joint business...

Financially self-sustainable oil projects under way in Bahrain

Bahrain’s new oil and gas projects are designed to be financially self-sustainable and will add to the kingdom’s natural resources, said the Minister of Oil Shaikh Mohammed Bin Khalifa Al Khalifa. Participating in the Falak Consulting quarterly Power Lunch as...

In Aramco IPO, China talks crucial for choice of listing venue

Saudi Arabia wants to complete talks with strategic investors such as China, Japan and South Korea before deciding where to list shares in state oil company Saudi Aramco, three sources familiar with the discussions said. The decision shows the initial...

Metito wins KAEC seawater desalination plant contract

King Abdullah Economic City (KAEC), the largest privately-funded new city in the world, has awarded a major contract to the Saudi unit of Metito, a leading UAE-based water management solutions provider, for the design and construction of a seawater...
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