Italian oil major Eni has made another significant gas discovery of 1-1.5 trillion cubic feet (tcf) of raw gas in place, in a deeper zone, in its first exploration well drilled in Offshore Block 2 […]
Slowing global oil demand growth next year, spiking food prices, and fears of recession in major oil-importing countries are set to slow economic growth in the Middle East, whose major oil producers are enjoying this […]
Even if Joe Biden secures a pledge for more oil when he visits Saudi Arabia this week, it may do little to drive down the high fuel prices roiling the global economy. The U.S. president’s […]
Macron: Saudi Arabia and UAE are nearing the limits of their production capacity. Saudi Arabia’s production quota was raised 114,000 bpd in June and will be raised another 170,000 bpd in July. News about shrinking […]
OPEC and non-OPEC partners, a group sometimes referred to as OPEC+, concluded a meeting via videoconference by deciding to stay the course with its production policy. It means the Middle East-dominated group will increase monthly […]
Saudi Arabia and the UAE have starring roles to play in the oil market this summer, as the only producers in the world holding any significant spare output capacity. But much of it is from […]
G7 agrees to explore cap on Russian oil price Macron tells Biden that UAE, Saudi can barely raise oil output Political unrest in Ecuador, Libya could further tighten supply Delayed U.S. weekly oil data to […]
(Bloomberg) — French President Emmanuel Macron said that the United Arab Emirates’ ruler confided to him that OPEC’s two leading oil exporters are already pumping almost as much oil as they can. The UAE is […]
The UAE’s Masdar said June 5 that it has signed two agreements to develop 4 GW of renewables projects in Azerbaijan, with the potential for an additional 6 GW in a second phase, which would […]
(Bloomberg) — The United Arab Emirates has started shipping rare cargoes of oil toward Europe, where crude buyers are snubbing imports from Russia in the wake of the nation’s invasion of Ukraine. The oil tanker […]
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