UAE ///

Taqa's earnings growth accelerates following oil-price recovery

Abu Dhabi National Energy Co. reported an almost fivefold jump in profit after crude prices climbed.

Abu Dhabi says it's ready to pump more oil under OPEC deal

Abu Dhabi said it’s ready to increase oil output in line with guidance set by OPEC and allied producers, echoing comments by Saudi Arabia that it will boost supply to meet demand.

ADNOC’s Al Yasat awards EPC contract of Bu Haseer field to NPCC

Al Yasat Company for Petroleum Operations, a subsidiary of the Abu Dhabi National Oil Company has awarded the Engineering, Procurement and Construction contract, for the full development of the offshore Bu Haseer field, to Abu Dhabi’s National Petroleum Construction Company.

Oil industry stands on threshold of historic step change in demand for its products

The oil and gas industry stands on the threshold of an historic step change in the demand for its products, driven by growth in every major market, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO.

Companies in the news

Michele Cowart, World Oil

Baker Hughes, a GE company, has been awarded, by Equinor ASA and Aker Solutions, a contract to provide turbomachinery equipment for the topside structure on the Johan Castberg FPSO.

Hamriyah Free Zone Authority recognizes top petrochemical, oil and gas companies of Hamriyah Free Zone

Hamriyah Free Zone Authority recognized top petrochemical, oil & gas companies of Hamriyah Free Zone during the “HFZA – Gulf Energy Information Petrochemical, Oil & Gas Event,” held in May 2018 at Hamriyah Free Zone Authority Head Office in Sharjay, UAE.

UAE sees OPEC oil capacity "buffer" offsetting Iran curbs

OPEC has enough spare production capacity to cushion oil markets as the U.S. re-imposes sanctions on Iran, according to United Arab Emirates Energy Minister Suhail Al Mazrouei.

BHGE said to hold talks with Abu Dhabi on drilling stake

Baker Hughes, a GE company (BHGE), is in talks with Abu Dhabi National Oil Co. to set up a partnership that could lead to the U.S. firm taking a minority stake in the state-owned energy giant’s drilling unit, according to people with knowledge of the matter.

Abu Dhabi's Taqa shifts to growth mode after years of cutbacks

Abu Dhabi National Energy Co., the state-controlled oil and gas producer, is looking again at boosting spending after three years of cutting back, according to Chairman Saeed Mubarak Al-Hajeri.

ADNOC appoints INPEX subsidiary as asset leader for Lower Zakum area

The Abu Dhabi National Oil Company (ADNOC) has signed an agreement appointing JODCO Lower Zakum Limited, a wholly-owned subsidiary of Japan’s INPEX Corporation (INPEX), as the asset leader for Abu Dhabi’s Lower Zakum concession area.

Investing in predictive analytics derives true value

Philippe Herve, Spark Cognition

As the oil and gas (O&G) industry emerges from the recent downtown, executives are looking for innovative ways to promote growth.

Adnoc plans first competitive tender for oil and gas blocks

Adnoc will issue its first competitive tender for partners to develop O&G, as the government-owned producer seeks to increase production in the UAE.

UAE says oil cuts removed 85% of the oversupply problem

The global deal to rein in oil output has removed “85% of the problem” of oversupply, and OPEC and allied producers are seeking ways to cooperate after the agreement ends, according to United Arab Emirates Energy Minister Suhail Al Mazrouei.

Austria's OMV, Abu Dhabi said to plan oil deal in late April

Austrian oil producer OMV AG and Abu Dhabi National Oil Co. are set to sign a partnership deal to produce oil from offshore fields in the Persian Gulf later this month, according to people with knowledge of the situation.

BP squeezed out of Abu Dhabi offshore oil as China, Italy win

When oil-rich Abu Dhabi put a string of offshore fields up for auction, suitors from China to Italy vied for a slice of the pie.

China's CNPC pays $1.18 billion for concessions in Abu Dhabi

China boosted its hold on Middle Eastern crude supply in a $1.18 billion deal for stakes in two oil and natural gas concessions in Abu Dhabi.

Total buys into oil fields offshore Abu Dhabi for $1.45 billion

Total has signed two new 40-year concession agreements with the Supreme Petroleum Council of the Emirate of Abu Dhabi (United Arab Emirates) and the Abu Dhabi National Oil Company (ADNOC).

Eni strikes $1.8 billion in oil and gas deals with Abu Dhabi

Eni won rights at two blocks offshore Abu Dhabi and sold Adnoc a stake in Zohr field.

UAE oil output said to drop most in year on works

Oil output in the United Arab Emirates slumped the most in a year last month as maintenance at fields in the Persian Gulf reduced supplies from the Middle East’s fourth-biggest crude producer.

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.