UAE

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%

UAE Wants to Increase Production by 30% in 5 Years

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

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