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UAE crude oil exports may decline in Q4
The UAE’s Ruwais refinery expansion, which more than doubles the plant’s capacity from 415,000 barrels per day (bpd), was completed late last year.
Oil rises after huge selloff
Investors kept a close eye on talks in Vienna over Tehran’s nuclear programme that could lead to increased exports of Iranian crude.
Saudi-Kuwaiti talks to resolve oil row
The dispute has seen the closure of the Khafji and Wafra oil fields in the neutral zone, which have been pumping for more than half a century.
Dewa awards Dh1.2b deals to construct 15 substations
The emirate has been witnessing a five per cent year on year growth in energy demand and to meet this demand an addition 2,100MW of generating capacity is required by 2021.
Opec stance helps reduce oil glut, but more action needed
Market is rebalancing, prices gradually returning to equilibrium.
US top energy producer
Russia added the most oil and gas reserves during the past year: BP report
Opec agrees to retain output, brushes off oil glut fears
Saudi Arabian oil minister Ali Al Naimi said Opec had rolled over its current output ceiling, renewing support for the shock market treatment it doled out late last year.
Gulf states may ‘resist output cuts’ at Opec meet
A decision by the 12-member Organisation of Petroleum Exporting Countries not to cut production in November sent prices crashing 60 per cent before a partial recovery in recent weeks.
Jordan sees 3.8% growth on weak oil
Weak oil prices that have cut the current account deficit to about nine per cent have put the kingdom on track for about 3.8 per cent growth in gross domestic product.
Oman refinery firm borrows $910 million
The money will be used to “meet general corporate requirements and certain projects currently being considered”.
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