United Arab Emirates News

 

Saudi Minister Commits to Output Cuts

Sep 09, 2019

Oil prices rose more than 2% on Monday after the new Saudi energy minister, Prince Abdulaziz bin Salman, confirmed expectations that he would stick with his country's policy of limiting crude output to support prices.Prince Abdulaziz, son of Saudi King Salman and a long-time member of the Saudi delegation to the Organization of the Petroleum Exporting Countries (OPEC), replaced Khalid al-Falih on Sunday…

Battered U.S. Oil Producers Soar on Saudi Attacks

Sep 16, 2019

Shares of U.S. oil and gas companies surged on Monday, as a jump in oil prices in the wake of attacks on Saudi Arabia's oil facilities drove a relief rally in one of the S&P 500's worst performing sectors this year.Shares in major energy conglomerates…

GATE Energy Moves into Singapore

Aug 26, 2019

GATE Energy, a player in oil and gas engineering, commissioning and specialty field services, announced the opening of its new Singapore office.'This marks the first permanent location for the GATE Energy family of companies outside of the United States…

Gulf Marine CEO Quits in wake of Profit Warning

Aug 21, 2019

Gulf Marine Services said on Wednesday Chief Executive Officer Duncan Anderson has resigned as the oilfield industry contractor warned a reassessment of its ships and contracts showed profit would fall this year, kicking its shares 12% down…

China Fixes First U.S. Crude Cargo Since Latest Tariff Threat

Aug 09, 2019

Chinese oil trader Unipec chartered a supertanker to ship U.S. crude to China in September, trading sources said, the first such cargo since U.S. President Donald Trump announced additional tariffs on Chinese import, ending a monthlong trade truce…

Cheniere Working on Sabine Pass Trains 3, 4

Aug 05, 2019

Cheniere Energy Inc said on Monday it is conducting previously scheduled turnarounds on Trains 3 and 4 at the Sabine Pass liquefied natural gas (LNG) export terminal in Louisiana as part of its maintenance plan for the facility.The company did…

US LNG Exports to Europe Grow

Jul 31, 2019

U.S. exports of liquefied natural gas (LNG) have been growing steadily and reached a new peak of 4.7 billion cubic feet per day (Bcf/d) in May 2019, according to the latest data published by the U.S. Department of Energy’s Office of Fossil Energy…

South-Khadyryakhinskoye Gas Flows

Jul 25, 2019

Russian largest independent gas producer and LNG player Novatek has begun commercial production at the South-Khadyryakhinskoye gas field, whose capacity is estimated at about 1 bcm of natural gas per year.“The South-Khadyryakhinskoye field is…

Repsol Profit Beats Estimates

Jul 24, 2019

Spanish energy company Repsol trimmed its full-year earnings outlook on Wednesday as lower oil prices and refining margins weighed on profits, but a share buy-back and better than expected results bolstered its stock.Repsol proposed buying and cancelling 5% of its outstanding shares…

ADNOC, Pertamina Ink Development Pact

Jul 24, 2019

The Abu Dhabi National Oil Company (ADNOC) signed an agreement on Wednesday with Indonesia's state-owned energy company PT Pertamina for oil and gas collaboration in both countries and globally, ADNOC said in a statement.The comprehensive strategic…

Japanese Firms Begin Offshore Wind Surveys

Jul 17, 2019

Japanese companies Sumitomo Corporation and Electric Power Development Co., Ltd. (J-POWER) have begun an offshore ground investigation off the coast of Japan to explore the possibility of developing an offshore wind power plant.The Japanese…

IEA: U.S., China to the LNG Lead by 2024

Jul 16, 2019

The United States and China will become the world's biggest liquefied natural gas (LNG) exporters and importers, respectively, in five years, according to projections by the International Energy Agency (IEA).U.S. LNG exports are expected to rocket to over 100 billion cubic meters (bcm) in 2024…

U.S. Offshore Wind: RMG, Bibby Sign MOU

Jul 09, 2019

As the prospects for offshore wind energy continue to grow in and around the United States, so too do the business potential and parnterships. The latest announcement comes from south Florida where Resolve Marine Group and Bibby Marine Services…

Oil Prices Mixed Ahead of US Crude Sstock Data

Jun 25, 2019

Oil prices were mixed on Tuesday ahead of data expected to show U.S. crude stocks declining, outweighing investors' concerns that U.S.-China trade tensions could dampen fuel demand.Benchmark Brent crude futures settled up 19 cents, or 0.3%, at $65…

Vitol Builds Refinery for New Ship's Fuel

Jun 24, 2019

Vitol, the world's largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia that will provide low-sulfur fuel for ships, a senior company official said on Monday.The project consists of a crude distillation unit that can process 30…

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