Tag Archives: Gulf News

The UAE remains fully committed to the Declaration of Cooperation issued by OPEC+ oil producing countries, according to the Ministry of Energy and Infrastructure. The UAE “reiterates” that any decisions will be taken collectively by the OPEC+ group at the next Ministerial meeting. The comments come amidst major developments in …

OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble. The coalition led by Saudi Arabia and Russia is gradually restoring the vast amount of crude production halted during the pandemic, …

Saudi Arabia’s plans to diversify its economy hinges largely on funding from Aramco and other leading public sector entities while large private sector players are expected to join the massive 5 trillion-riyal ‘Shareek’ investment plan. The recent confirmation by Saudi Arabia’s Crown Prince Mohammed Bin Salman that the kingdom is …

Saudi Aramco is conducting a strategic review of its upstream business, in a move that could potentially see the state-owned firm bring in external investors to some of its oil and gas assets. The world’s biggest energy company is in preliminary discussions with advisers to evaluate its options. Aramco may …

Saudi oil giant Aramco will benefit from the oil prices and demand recovery according to Bank of America Merrill Lynch (BoAML). “We believe that Aramco is uniquely positioned in the global oil world to meet potential resurgence of oil demand. Should bullish oil price demand assumptions materialize, we would expect …

Saudi Arabia and Russia are once again heading into an OPEC+ meeting on opposite sides of a crucial debate about the oil market. Riyadh is publicly urging fellow members to be “extremely cautious,” despite prices rebounding to a one-year high. In private, the kingdom has signaled it would prefer that …

Qatar’s move to sanction the $28.7bn North Field Expansion project puts the country on track to return as the world’s largest LNG producer by 2030, the Oslo, Norway-based Rystad Energy has said in a report. Qatar’s liquefaction capacity will rise to 110mn tonnes per year (tpy), or 18% of the …

The optimism around vaccine rollouts has supported oil prices into 2021 – but traders are now focusing on the impact of the pandemic on longer-term demand for the commodity. Brent crude prices closed at $55.04 a barrel in its last trading session, while US crude dripped slightly to $52.14. “We …

A large box must be ticked before LNG can be considered a cornerstone of the 21st century energy basket – and that is its de-carbonization. LNG has fairly been heralded as a coveted jigsaw piece in the global energy transition; an energy market to bridge the traditional fossil fuel industry …

Saudi Arabia raised oil pricing for customers in its main market of Asia after optimism over coronavirus vaccines caused crude prices to climb to an eight-month high last week. The increase, the biggest in five months, indicates the world’s largest oil exporter is confident global energy demand is strong enough …