Concerns about the Eurozone debt crisis pushed crude oil prices towards its lowest so far this year on Tuesday.
The $125 billion aid package received by Spain to boost its banks has revived oil demand hopes.
The UAE energy firm has announced a new chairman as it looks to repay a $920 million sukuk.
The African country has invited the UAE to invest in industries relating to oil and gas exploration.
The Kingdom pumped 9.8 million barrels per day last month, down 300,000 bpd from April.
The company currently produces around eight million tonnes of liquefied natural gas a year.
The LNG plant is operating at 100 per cent capability after maintenance shutdowns earlier this year.
The country has signed a ‘permanent headquarters’ agreement with the renewable energy agency.
Expert says GCC governments will not succeed in reaching their goal of a large renewable energy market by 2020.
Despite oil prices falling below $100 a barrel, Saudi Arabia will not cut supplies anytime soon, say experts.
Crude oil prices dropped to nearly $100 per barrel fueled by fears about the Eurozone crisis.
Price of crude oil has dropped on Eurozone debt worries and likelihood of Greece leaving the currency.
Committee approves Dhs755 million infrastructure projects in the UAE’s East Coast and UAQ.
Abu Dhabi oil company signs agreement for EMARAT’s fuel stations across five emirates in the UAE.
Exclusive: Utility company International Power-GDF Suez does not face market concentration in the ME.
The GCC’s share of global aluminium production could reach ten per cent by 2022, but the sector faces hazards.
The Abu Dhabi National Energy Company (TAQA) is studying energy investments in Turkey.
ADNOC’s highest ever offers for naptha contracts are likely to influence Saudi Aramco talks
The Gulf State plans to increase crude production by 30,000 barrels per day this year.
Saudi Aramco’s new refinery in Jizan will have a capacity of 400,000 barrels per day when ready.
A fall below that level will lead to a cut in Saudi’s oil output and force high-cost oil projects to shut down.
High oil prices “pose a real threat to the economic recovery” says the International Energy Agency.
The Kingdom’s oil minister Ali al-Naimi said that an oil price of $100 per barrel would be “great.”
Qatar Investment Authority has reportedly acquired between three to five per cent of oil major Royal Dutch Shell.
The oil producing group said that crude oil supply was in excess of market requirements.
Saudi also has 80 million oil barrels in storage for sudden need, the Kingdom’s oil minister Ali al-Naimi said.
The Gulf states have assured South Korea that they will make-up for any shortfall of oil supply from Iran.
The Dubai utility received several Expressions of Interest (EOIs) from international firms for 10MW plant.
Saudi Basic Industries Corporation will be distributing a dividend of SR5 per share to shareholders for 2011.
The Kingdom stressed that it has not signed any deal with Sweden to help build a weapons factory in Saudi.