Tag: United Arab Emirates
OPEC supply cut compliance rises in March as UAE joins pact
OPEC supply cut compliance expected to reach 95 per cent Analysts anticipate OPEC members’ compliance with the cartel’s output reduction agreement to reach 95 per cent in March as the United Arab Emirates cut output this month and production disruptions in Nigeria and Libya, countries exempted from the OPEC supply cut pact. A Reuters survey showed the […]
UAE oil output to be cut by more than 139,000 b/d in March/April
UAE oil output cut part of OPEC supply pact United Arabic Emirates Energy Minister Suhail al-Mazrouei says the UAE oil output reduction of 139,000 b/d in March and April will meet the Gulf country’s commitment to the OPEC supply cut deal. “UAE production cut for March and April will be more than 139,000 bpd due […]
UAE’s ADNOC plans to consolidate two key offshore oil firms
ADNOC restructuring during oil price slump By Rania El Gamal DUBAI, Oct 4 (Reuters) – Abu Dhabi National Oil Co (ADNOC) said on Tuesday it planned to consolidate the operations of two of its offshore oil companies into a new entity, as part of a bigger restructuring of the OPEC member’s main energy firm in the […]
Could UAE solar push lead a trend for the Gulf?
UAE solar push lead a trend for the Gulf? By Saket S. DUBAI, May 23 (Thomson Reuters Foundation) – As the Gulf states take steps to expand their use of clean energy, a bold plan by the United Arab Emirates to boost its use of renewable electricity from less than 1 percent to 24 percent […]
Oil cap: UAE energy minister refuses to discuss tentative deal
Russia, Saudi Arabia, Qatar, Venezuela agree in principle to oil cap DUBAI, United Arab Emirates _ Dodging reporters’ questions, the United Arab Emirates’ energy minister refused Wednesday to discuss a proposed cap to crude oil production agreed to by four oil-producing countries the day before, raising new questions about the proposal aimed at stabilizing global prices. Minister […]
United Arab Emirates minister of economy says $80/b oil ‘ideal’
International Energy Agency not optimistic, says oil prices will remain weak The UAE’s minister of economy, Sultan al-Mansouri, said Sunday that an oil price of $80 /b would be “ideal” as the global economy tentatively moves towards higher growth. Anticipating a pick up in the global economy in the second half of 2016, Mansouri, speaking […]
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