UAE – Page 3 – Oil & Gas 360

Venezuela's oil exports sink to 1940's level under tighter U.S. sanctions -data- oil and gas 360

Special Report: UAE emerges as hub for companies helping Venezuela avoid U.S. oil sanctions

December 29, 2020

Reuters NEW YORK – In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s oil trade. Within weeks, a little-known company based in the United Arab Emirates took over management of several tankers that had been shipping Venezuelan oil. The

The UAE becomes the first Arab country to launch its own nuclear energy program

August 3, 2020

CNBC DUBAI, United Arab Emirates — The United Arab Emirates announced Saturday the successful start up of its Barakah nuclear energy plant, the first in the Arab world and a significant step towards the country’s goal of emissions-free electricity. With the announcement, the UAE becomes the newest member of an exclusive club of 31 countries running nuclear power operations. It’s

Once fuel assemblies are loaded into the reactor, Nawah will begin the start-up sequence for testing - oilandgas360

UAE nuclear power plant’s first reactor ready for operation

February 2, 2020

The Arab Weekly Once fuel assemblies are loaded into the reactor, Nawah will begin the start-up sequence for testing. Barakah will be the United Arab Emirates’ first nuclear plant and the world’s largest when completed, with four reactors and 5,600 megawatts of electrical generation capacity. It is being built by Korea Electric Power Corporation. Oil and Gas Publishers Note: The

UAE to double renewable energy portfolio in next ten years: ADNOC

January 13, 2020

Reuters ABU DHABI (Reuters) – The United Arab Emirates grew its renewable energy portfolio by more than 400% in the last 10 years, and is on track to double that again in the coming decade, Abu Dhabi National Oil Co. chief executive Sultan al-Jaber said on Monday. “We (ADNOC) will increase our carbon capture utilization and storage program by 500%

Here's how Iran would disrupt world oil trade - Oil & Gas 360 Strait of Hormuz

Oil Tanker Disappears in the Strait of Hormuz

July 16, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 UAE denies ownership of the Panama-flagged vessel, which has been missing for two days The Riah, a 190-foot Panama-flagged oil tanker traveling through the Strait of Hormuz, has been missing since Saturday after its transponder stopped broadcasting near the coast of the small Iranian island of Qeshm. According to the Associated

OPEC prepares for its 171st meeting to decide on production cuts

More OPEC Producers Turn to Public Markets

July 10, 2017

Abu Dhabi looks to publicly list parts of its national oil company The United Arab Emirates plans to list part of its national oil company on public markets in order to create new revenue streams and gain access to new markets amid low oil prices. The Abu Dhabi National Oil Company (ADNOC) is considering an IPO of minority stakes in

Oil Bounces off 12-Year Low Following UAE Comment about OPEC Cut

February 11, 2016

UAE energy minister said OPEC members ready to cooperate The price of oil today approached a new low of $26.21 per barrel today, the lowest since May 8, 2003, when it hit $26, before bouncing up on news of a possible production cuts from OPEC. The Wall Street Journal’s Summer Said reported on Twitter that the UAE’s Energy Minister Suhail bin

OPEC Removes Production Limit Altogether: the End of the Cartel?

December 7, 2015

“We aren’t going to go back to a cartel … That time has passed” – U.A.E. Minister Al Mazrouei Just over a year after deciding to change its focus to defending market share rather than oil prices, OPEC members left their semi-annual meeting in Vienna on December 4 grim-faced, according to reports. After out-producing its self-imposed ceiling for 18 months,

Oil & Gas 360 - ConocoPhillips ups drilling program in Eagle Ford - Oil & Gas 360

OPEC a Year Later: Who Will Adapt and Survive?

November 23, 2015

A shot heard round the world Last November 27, OPEC sparked the decline in crude oil prices that would see both international benchmark Brent crude, and U.S. benchmark WTI crude, lose more than 50% of their value. The group decided to move away from its traditional role of maintaining a reasonable crude oil price in order to protect its market

UAE Wants to Increase Production by 30% in 5 Years

October 23, 2015

The UAE is looking to use enhanced oil recovery to increase production moving forward The United Arab Emirates (UAE) is looking to enhanced oil recovery (EOR) to push its production higher as the chances of finding new reserves decrease. OPEC’s second-largest producer of petroleum and other liquids, and the world’s sixth-largest oil producer, hopes to expand production by 30% by

UAE’s Emirates National Oil Company Buys Out Subsidiary for $3.7 Billion

June 15, 2015

Emirates National Oil Company (ENOC), a wholly owned entity of the Dubai government, will buy out Dragon Oil for $3.7 billion. Neither company has confirmed the announcement but several news outlets are reporting an agreement has been reached. ENOC already owns 54% of Dragon and will acquire the remaining interest for 750 pence per share – a premium of 47%

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