UAE ///

UAE to add 3.8 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

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.

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

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.

OPEC cuts Q2 demand estimates again while members make deeper cuts

OPEC presented a bleaker assessment of global oil markets for the second quarter as the coronavirus crisis continues to drain demand, days after some of the cartel’s biggest producers pledged to make even deeper production cutbacks.

ADNOC terminates Dalma gas project with Petrofac

Petrofac received notice of termination from Abu Dhabi National Oil Company (ADNOC) of two recently awarded contracts for the Dalma Gas Development Project.

Oil glut closes Middle East’s largest crude terminal

With the coronavirus choking fuel demand and the world awash in surplus crude, even the Middle East’s main oil-trading hub has run out of room to store unwanted barrels.

These countries have the most firepower in the oil price war

With OPEC’s output limits suspended and a price war under way, the group’s biggest oil producers are preparing to churn out more barrels to protect market share.

Abu Dhabi discounts its Murban crude in growing oil price war

Abu Dhabi took a cue from Saudi Arabia and cut pricing for its crude as the world’s biggest producers prepare to flood oil markets in a race for market share.

Daily Brief podcast, Wednesday, March 11th

As the UAE piles on to Saudi Arabia and Russia’s production hikes, is this the time for the U.S. to implement an import fee to partially protect domestic output?

ADNOC joins price war, pledging to boost supply to 4 MMbpd

Abu Dhabi National Oil Co. will boost crude supply to customers to more than 4 million barrels a day in April as OPEC’s third-biggest producer enters the oil-supply fray.

Inspired by Aramco IPO results, Bahrain may follow suit

Bahrain may transfer some of its oil and natural gas assets into a proposed state-run fund in which it could sell shares to investors, as the smallest Gulf Arab country seeks to balance its budget.

ADNOC awards Petrofac $1.65B Dalma Gas Development contract

Petrofac Emirates has been awarded two contracts, together worth around US$1.65 billion with Abu Dhabi National Oil Company in the United Arab Emirates.

UAE finds 80 tcf gas field, the world’s biggest since 2005

Dubai and Abu Dhabi made what could be the world’s largest natural gas discovery since 2005 as the two biggest sheikhdoms in the United Arab Emirates aim to push the country to energy self-sufficiency.

UAE finds world’s biggest gas field since 2005

Dubai and Abu Dhabi made what could be the world’s largest natural gas discovery since 2005 as the two biggest sheikhdoms in the United Arab Emirates aim to push the country to energy self sufficiency.

Popular Middle East oil falls from favor on cusp of IMO 2020

Murban is typically prized for its light and middle distillate yield but the grade’s price has dropped as Asian refiners focus on purchasing oil that produces more low-sulfur, high-viscosity marine fuels due to IMO 2020.

OPEC+ agrees to redistribute oil cuts under Saudi pressure

OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia.

ADNOC, Honeywell embark on one of the industry’s largest predictive maintenance projects

Under the terms of a 10-year partnership agreement, ADNOC will utilize Honeywell’s state-of-the-art asset monitoring and predictive analytics platform to maximize asset efficiency and integrity across ADNOC’s upstream and downstream operations.

ADNOC launches program to significantly expand onshore, offshore rig fleets by 2025

"The program is a pivotal enabler of our plans to substantially increase drilling for conventional oil and gas as well as considerably ramp up the number of unconventional wells," said Abdulmunim Saif Al Kindy, ADNOC's upstream executive director.

Schlumberger to employ 1,000 Emiratis as part of ADNOC's In-Country Value program

Schlumberger signed a memorandum of understanding with ADNOC to support its In-Country Value (ICV) Program, which is designed to catalyze socio-economic development, improve knowledge-transfer and generate jobs for UAE nationals.