Thursday 27 July 2017
 
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Oil

UAE move on oil supply a model, says minister

Abu Dhabi National Oil Company's (Adnoc) decision to cut crude allocations by 10 per cent for September can become a model for other national oil companies inside and outside Opec to achieve market stability, said Suhail bin Mohammed Faraj F

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Petrofac wins $100m new contracts in Iraq

Petrofac, a leading provider of oilfield services, has secured a contract extension and a new award with a combined value of more than $100 million for construction management, engineering, commissioning and start-up services for two internation

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Petrofac wins $100m new contracts in Iraq

Petrofac, a leading provider of oilfield services, has secured a contract extension and a new award with a combined value of more than $100 million for construction management, engineering, commissioning and start-up services for two internation

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Basrah Heavy cargo sold at $1.37 premium on DME

Dubai Mercantile Exchange hosted its latest auction on Wednesday, on behalf of Iraq’s National Oil Company (Somo). The 2-million barrel cargo of Basrah Heavy was awarded at a premium of $1.37 per barrel over the September Basrah H

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Why GCC will find it hard to diversify from hydrocarbons

The GCC economies' high concentration and dependence on the hydrocarbon sector, which averaged about 30 per cent of GDP and 60 per cent of total exports over 2015-2016 could become a credit negative factor when not offset by substantial fina

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Oil sector key market for drones in GCC

The market for drones in the GCC is expected to reach $1.5 billion by 2022, presenting a massive opportunity for regional telecom operators, according to Strategy&, formerly Booz & Company, and part of the PwC network. By

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Demand for Opec oil to fall next year

Opec has forecast that world demand for its crude will decline next year as rivals pump more, pointing to a market surplus in 2018 despite an Opec-led output cut, a

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SIS inks partnership deal with Borr Drilling

Star Information Systems (SIS) said it has signed a deal with Borr Drilling, a leading contractor catering to the oil and gas industry across the globe, to implement software for management systems on board and onshore. The indust

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SIS inks partnership deal with Borr Drilling

Star Information Systems (SIS) said it has signed a deal with Borr Drilling, a leading contractor catering to the oil and gas industry across the globe, to implement software for management systems on board and onshore. The indust

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Oil will continue to play a key role in global energy mix: Nasser

The role of oil as a vital source of energy to the world is expected to continue for the long term despite the growth of alternatives, said Amin H Nasser, president and CEO of Saudi Aramco. At the World Petroleum Congress in Istan

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