WorldOil Abu Dhabi oil giant pushes ahead with IPO Abu Dhabi National Oil Co. plans to sell as much as 20% of its fuel-distribution unit weeks after Saudi Arabia’s corruption crackdown deterred investors from the Middle East’s biggest share sale of the year. UAE sees logic for OPEC to extend oil-output cuts accord OPEC needs to extend limits on oil output to help cut global supply, but isn’t considering making deeper cuts. UAE joins gathering consensus to extend oil output cuts OPEC and allied oil producers should extend their production cuts beyond March to help re-balance the market, the United Arab Emirates said, adding weight to a gathering consensus for longer reductions in output among participants in the global accord. Oil and gas professionals find global meeting point in Abu Dhabi This year’s Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) will give oil and gas professionals an unrivalled platform to meet potential new business partners from around the world, organizers said today during the lead-up to the annual event. Regional Report: MENA Middle East/North Africa grapples with production cut commitment, despite urge to boost output Statoil among firms seeking stakes in Abu Dhabi offshore blocks Statoil ASA is among producers involved in discussions with the Abu Dhabi National Oil Co. about joining offshore production in the emirate, according to a Norwegian diplomatic dispatch. Qatar's growth prospects dim as Saudi-led boycott takes its toll Qatar’s economy will expand this year at the slowest pace since 1995, according to economists surveyed by Bloomberg this month, as the impact of a Saudi Arabia-led boycott is felt on trade and investor confidence. Iraq, UAE, Kazakhstan affirm commitment to output cuts, OPEC says OPEC said Iraq, the United Arab Emirates and Kazakhstan -- who have lagged in their implementation of a deal to cut production -- affirmed their commitment to the accord at a meeting in Abu Dhabi. Abu Dhabi oil producer said to seek $7 billion in funding Adnoc asked banks for proposals to manage the sale of a project bond and is also seeking a loan as the government-owned energy producer considers raising as much as $7 billion for its businesses. Kuwait joins Saudis, UAE in promising more OPEC oil cuts Kuwait joined the United Arab Emirates in promising to pump less oil after Saudi Arabia called on fellow OPEC producers to cut more supply to help curb the global glut.