http://www.worldoil.com WorldOil Saudi oil minister admonishes OPEC+ quota cheaters https://www.worldoil.com/news/2020/9/17/saudi-oil-minister-admonishes-opecplus-quota-cheaters In recent months, the UAE has become one of the worst quota-breakers among the Organization of Petroleum Exporting Countries and its allies. The UAE made just 10% of its pledged cuts in August, according to the International Energy Agency. UAE pushes oil output past OPEC+ targets, IEA says https://www.worldoil.com/news/2020/9/15/uae-pushes-oil-output-past-opecplus-targets-iea-says The United Arab Emirates almost entirely disregarded its commitment to OPEC+ production quotas last month, when it opened the taps even further, according to the International Energy Agency. ADNOC and Apollo-led consortium create $5.5 billion real estate investment partnership https://www.worldoil.com/news/2020/9/2/adnoc-and-apollo-led-consortium-create-55-billion-real-estate-investment-partnership The strategic investment will leverage the rental income streams from select ADNOC real estate assets under a 24-year master lease agreement. The investment will unlock new pools of global institutional long-term capital for ADNOC, while supporting investment in its core business and strategic growth projects. Weir Oil and Gas signs strategic services contract in UAE https://www.worldoil.com/news/2020/8/24/weir-oil-gas-signs-strategic-services-contract-in-uae Weir Oil and Gas Dubai has signed a three-year agreement for servicing and repairing pumps and motors with a national oil company in the UAE. The contract secures the provision of Weir Oil and Gas Rotating Equipment services, machine shop services, emergency manufacturing and site works. Abu Dhabi merges oilfield services companies into single unit https://www.worldoil.com/news/2020/8/17/abu-dhabi-merges-oilfield-services-companies-into-single-unit Abu Dhabi has been merging some companies as it looks to bolster the economy and diversify from hydrocarbon production. Earlier this year, it decided to combine utilities Taqa and ADPower. UAE to add 3.8 MMbbl capacity to oil storage hub in 2020 https://www.worldoil.com/news/2020/7/1/uae-to-add-38-mmbbl-capacity-to-oil-storage-hub-in-2020 Brooge Energy Ltd. expects new tanks at its oil-storage terminal in the United Arab Emirates to be fully operational by the end of the year, with a single customer booked to lease all the additional capacity. ADNOC announces $20.7 billion energy infrastructure deal https://www.worldoil.com/news/2020/6/24/adnoc-announces-207-billion-energy-infrastructure-deal Foreign investment into ADNOC’s infrastructure unlocks significant capital to reinvest in ADNOC’s strategic growth projects and reinforces the UAE as an investment destination of choice. Lamprell awarded EPIC contract by Sharjah National Oil Corporation https://www.worldoil.com/news/2020/5/20/lamprell-awarded-epic-contract-by-sharjah-national-oil-corporation Scheduled for completion in early 2021, Lamprell's scope of work is specific to the Mahani Extended Well Test project and includes hook-up and installation at the well, existing systems upgrade, associated tie-ins and a new 25 km export pipeline. Oceaneering wins significant asset integrity scope in the Middle East https://www.worldoil.com/news/2020/5/20/oceaneering-wins-significant-asset-integrity-scope-in-the-middle-east The award includes the provision of general and advanced non-destructive testing (NDT) and fabric maintenance inspection services across the operator’s onshore and offshore facilities in the Middle East. OPEC+ proves its mettle by swiftly delivering oil production cuts https://www.worldoil.com/news/2020/5/15/opecplus-proves-its-mettle-by-swiftly-delivering-oil-production-cuts Despite skepticism over the efficacy of the measures unveiled in mid-April by Saudi Arabia, Russia and their partners, compared to the immense hit to demand, the impact has been substantial. Oil prices have recovered by 60% in the past three weeks, as a pick-up in fuel use is complemented by the supply cuts.