WorldOil OPEC member hopes for alliance with Russia that lasts "forever" OPEC’s fourth-largest oil producer is leading an effort to prolong cooperation with Russia and other allies far beyond the expiry of their joint supply cuts this year. Abu Dhabi broadens oil partnerships in $1.5-billion Cepsa deal Abu Dhabi’s selection of a Spanish company to help it develop offshore oil fields is a sign of the Gulf producer’s push to diversify its partnerships while working to boost production capacity and secure long-term markets for crude. Indian companies pay $600 million for stake in Abu Dhabi oil concession Indian companies agreed to pay $600 million for a stake in one of Abu Dhabi’s biggest offshore oil concessions, securing a share in the emirate’s crude production for the first time. Kuwait reduces production target for 2020 Kuwait Foreign Petroleum Exploration Co. reduced its output target for oil and natural gas due to the drop in crude prices that started in 2014, CEO Sheikh Nawaf Saud Al-Sabah said. Abu Dhabi gets bids for offshore oil in plan to expand capacity Abu Dhabi’s government oil producer received bids in the fourth quarter from international energy companies seeking stakes in offshore fields that pump about 25% of the Persian Gulf emirate’s crude. Fugro undertakes marine, land surveys for UAE's Hail and Ghasha developments Fugro has commenced a program of geophysical and geotechnical surveys for Artelia, Abu Dhabi as part of the Hail and Ghasha development, a landmark project by the Abu Dhabi National Oil Company (ADNOC). Kuwait says exit from oil cuts not on table as prices rise OPEC and other global oil producers including Russia won’t be discussing how to end output cuts when they meet this weekend in Oman even as crude prices have recently been rising, Kuwait’s oil minister said. ADNOC awards FEED contracts for offshore gas mega project The Abu Dhabi National Oil Company (ADNOC) has awarded the two Front End Engineering Design (FEED) contracts for ADNOC’s planned offshore ultra-sour gas mega project, which consists of Hail, Ghasha and Dalma fields. Gulf Arab Energy producers issue record debt for expansion Gulf Arab energy companies issued record debt this year as producers opted to exploit lower borrowing costs to fund expansion plans. Investor bet on Middle East oil play pays off in Abu Dhabi IPO Investors who bet on exposure to Middle East oil got it right, at least on the first trading day of shares in a unit of Abu Dhabi’s oil giant.