UAE – Oil & Gas 360

China vows to protect its firms amid fresh US oil sanctions barrage

October 10, 2025

(Oil Price)– China vowed on Friday to protect the rights and interests of Chinese companies after the U.S. unleashed on Thursday a new sanctions package on Chinese entities for importing crude oil from Iran. The U.S. Treasury on Thursday blacklisted around 100 individuals, vessels, and companies—including China’s Shandong Jincheng Petrochemical Group, a Shandong teapot refinery accused of buying millions of barrels of

Gulf countries respond to U.S. trade pressure with trillion dollar plans

October 3, 2025

(Oil Price)– Over the past decade, the Gulf Cooperation Council (GCC), comprising Saudi Arabia, Qatar, the UAE, Bahrain, Kuwait, and Oman, has advanced bold strategies to reshape its economies by reducing reliance on oil while developing new sectors like renewable energy, tourism, financial services, and digital innovation. Charting a course toward long-term economic resilience, these nations have launched sweeping infrastructure

UAE says oil markets are absorbing more barrels without stocks rising

July 9, 2025

(BOE Report)– Oil markets are absorbing OPEC+ production increases without building inventories, which means they are thirsty for more oil, United Arab Emirates’ Energy Minister Suhail al-Mazrouei said on Wednesday. OPEC+, which pumps about half of the world’s oil, has been curtailing production for several years to support the market. But it has reversed course this year to regain

U.S. and UAE announce $440 billion in energy investments

May 16, 2025

(Oil Price) – The United States and the United Arab Emirates (UAE) expect to invest a total of $440 billion in the energy sector through 2035, Sultan Al Jaber, the chief executive of the UAE’s state oil and gas firm ADNOC, said on Friday. The United States is expected to invest $60 billion in energy projects in the UAE, while the Gulf oil-producing

Explainer-What OPEC+ oil output cuts are currently in place?

December 5, 2024

(Investing) – LONDON – OPEC+ at its Dec. 5 meeting made further changes to its oil production policy, by delaying a planned increase in output further into next year as it faces a weaker oil demand outlook. The oil producer group on Thursday pushed back the start of oil output rises by three months until April 2025 and extended the full

ADNOC, SLB, Patterson-UTI partner to accelerate UAE’s unconventional oil and gas program under Turnwell Industries name

September 30, 2024

(World Oil) – SLB announced an agreement to create Turnwell Industries LLC OPC (Turnwell), a joint venture (JV) with ADNOC Drilling Company, SLB and Patterson-UTI. The JV will allow the three companies to leverage leading innovations in AI, smart drilling design, completions engineering and production solutions. The JV will focus on the acceleration of UAE’s unconventional oil and gas program,

UAE and LNG- Big players taking a piece of ADNOC deal

August 6, 2024

Oil and Gas 360 The United Arab Emirates (UAE) has attracted some big industry investors in its bid to challenge the U.S., Australia, and Qatar as the world’s leading LNG exporters.  Shell and fellow European energy titans TotalEnergies and BP each take 10% of Abu Dhabi’s Ruwais project; Mitsui of Japan takes another 10%. The remaining 60% will be

OPEC crude oil production remains steady as Iraq, UAE pump above quota

July 2, 2024

World Oil (Bloomberg) – OPEC’s crude production remained steady for a third month, while some key members continued to pump above agreed limits. OPEC produced an average of 26.98 MMbpd in June, or 80,000 bpd less than during the previous month, according to a Bloomberg survey. Small reductions in Iraq and Nigeria drove the decline. The survey showed that Iraq

Shell, TotalEnergies in talks for stakes in ADNOC’s Ruwais LNG plant

April 23, 2024

World Oil (Bloomberg) – Shell Plc and TotalEnergies SE are among several global energy companies in talks to buy stakes in Abu Dhabi National Oil Co.’s next liquefied natural gas export project in the United Arab Emirates. The two oil majors, as well as Japanese trading house Mitsui & Co., are looking for equity in the Ruwais facility, as well

Western sanctions delay payments for Russia’s oil exports

March 27, 2024

Oil Price Russia is seeing months of delays in payments for its oil exports as banks in its major trader partners, including China, the UAE, and Turkey, are now scrutinizing transactions wary of the tighter U.S. sanctions, numerous unnamed sources with knowledge of the matter have told Reuters. Russian oil firms are struggling to collect the payments for their exports on

The UAE could raise oil production regardless of OPEC+ decision

November 20, 2023

Oil Price OPEC’s third-largest producer, the United Arab Emirates (UAE), could raise its oil output next year as it has won a higher quota under the OPEC+ agreement. The UAE, OPEC’s third-biggest producer after Saudi Arabia and Iraq, said in the summer that it would not join the Saudis in making voluntary production cuts. The UAE has argued for years that it

UAE says OPEC+ cuts are enough to support the oil market

July 21, 2023

Oil Price The current moves of OPEC+ to cut oil production are enough to support the market, Suhail al-Mazrouei, the energy minister of the United Arab Emirates (UAE), told Reuters on Friday. The actions the OPEC+ group has taken so far are sufficient, according to the OPEC heavyweight the UAE. “What we are doing is sufficient as we say today,” al-Mazrouei

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