Tag Archives: United Arab Emirates

The UAE on Friday slashed retail fuel prices by 38 fils per litre for the month of October in line with the drop in global rates. This is the third consecutive month that the UAE has slashed retail fuel prices. In October, the prices were slashed by 62 fils per …

Continued high gas prices in Europe in the aftermath of Russia’s invasion of Ukraine in February have prompted several major European oil and gas companies to expedite the development of gas projects in the Middle East, with Italian major Eni’s latest announcement regarding the UAE being the latest example. According …

The United Arab Emirates (UAE) has similar views to Saudi Arabia on the crude oil markets, a source familiar with the UAE’s thinking told Reuters on Friday, as speculation intensifies over whether the OPEC+ group would consider making new cuts to production again. The idea of new OPEC+ cuts, just …

The UAE government’s net operating surplus more than doubled in the first quarter to Dh36.4 billion ($9.9 billion) as surging oil prices boosted public revenue, finance ministry data showed on Monday. High oil prices and increased production have been a boon for the UAE’s economy this year, along with a …

Iran exported non-oil products valued at $2.264 billion to the United Arab Emirates (UAE) in the first four months of the current Iranian calendar year (March 21-July 22), according to the data released by the Islamic Republic of Iran Customs Administration (IRICA). Based on the IRICA data, the UAE was …

Russia is seeking payment in United Arab Emirates dirhams for oil exports to some Indian customers, three sources said and a document showed, as Moscow moves away from the US dollar to insulate itself from the effects of Western sanctions. Russia has been hit by a slew of sanctions from …

The ongoing growth in trade between the UAE and France underscores their strong economic partnership and deep-rooted relations, supported by their leadership. The visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to France also confirms the strength of the comprehensive strategic partnership between the two friendly countries. …

The European Union is looking to partner with the UAE to help accelerate energy transition and infrastructure development in Africa as part of the 27-member bloc’s €300 billion ($321.9bn) Global Gateway strategy, a senior EU official has said. There is great scope for the UAE, the Arab world’s second-largest economy, …

The UAE secured 32.1 percent of Japan’s crude oil needs in April, as the country’s imports of crude oil from the UAE reached 28.08 million barrels in April 2022, said the Agency for Natural Resources and Energy in Tokyo. The agency, part of the Japanese Ministry of Economy, Trade and …

France is talking to the United Arab Emirates about the supply of oil and diesel as it seeks alternatives to Russian energy sources, Finance Minister Bruno Le Maire said on Sunday. The minister said France also planned to accelerate investment in the transition to cleaner energy, such as speeding up …