oil and gas

October 15, 2018

WAM) -- ADNOC Distribution’s shareholders have approved the Board of Directors’ recommendation to pay an interim dividend of AED735 million (AED0.0588 per share), at the company’s General Assembly meeting today.

Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of State and Chairman of the ADNOC Distribution Board of Directors, said: 'ADNOC Distribution has maintained its commitment to a progressive and consistent dividend policy, which is underpinned by our strong financial results delivered in the first half of 2018. We wish to thank our shareholders for their trust in us and look forward to continuing to deliver on our"...

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October 15, 2018

(AETOS Wire)-- The Year in Infrastructure 2018 Conference – Siemens and Bentley Systems have announced a joint technology and service solution, consisting of their complementary offerings, to speed up the digitalization of power plants and provide intelligent analytics with a range of innovative offerings and managed services solutions. The new service, to be hosted on Siemens’ cloud-based open IoT operating system, MindSphere, will combine Bentley’s advanced asset performance software capabilities with Siemens’ complementary technology and service expertise to empower power plant owners to take full advantage of digitalization, which helps improve maintenance"...

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October 14, 2018

Universal Laser Systems, Inc. (ULS), a worldwide leading manufacturer of laser material processing systems, celebrates its 30th anniversary.

From establishment in 1988, its mission has been to advance the development and deployment of material processing tools that leverage the unique characteristics of laser technology for the modification and transformation of a vast number of organic and composite materials into parts and products.

Over the years, ULS has established its position in the industry by carving its own path, instead of taking traditional approaches,"...

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October 13, 2018

There are opportunities for expansion, investment and growth in the oil and gas industry, as demand for energy continues to rise, particularly from the high-growth economies of Asia, said Dr Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (Adnoc).

Speaking in London at the 39th Oil and Money Conference, co-hosted by The New York Times and Energy Intelligence, Dr Al Jaber said global demand for oil is reaching record highs and that by the end of this year, much sooner than expected, the world will see the historic milestone"...

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October 11, 2018

(WAM) -- The Emirates Nuclear Energy Corporation (ENEC), in collaboration with its subsidiary, Nawah Energy Company (Nawah), hosted a Supplier Forum today in Abu Dhabi. The forum brought together delegates representing a diverse range of UAE-based companies as well as employees from ENEC and Nawah.

The forum is an integral component of ENEC’s ongoing efforts to support the development and growth of a local supply chain that can meet operational service, spare part and consumable requirements for the safe, secure and efficient construction and operation of the Barakah Nuclear Energy Plant for the next 60 years or more. The forum highlighted"...

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October 9, 2018

(WAM) -- The Abu Dhabi National Oil Company, ADNOC, and Baker Hughes, a General Electric company, today signed a strategic partnership agreement that will enable and support the growth and development of ADNOC’s subsidiary, ADNOC Drilling, into a fully integrated drilling and well construction provider.

As part of the agreement, BHGE will acquire a five percent stake in ADNOC Drilling. The transaction values ADNOC Drilling at approximately $11 billion. BHGE will be the sole provider of certain proprietary leading-edge and differentiated equipment and technologies related to the integrated drilling offering, supporting ADNOC Drilling’s"...

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October 6, 2018

Saudi Arabia’s crown prince said he’s getting close to striking a deal with Kuwait about two jointly owned fields that can produce half a million barrels a day of crude.

“We believe that we are almost close to having something with Kuwait,” Crown Prince Mohammed Bin Salman, who met with Kuwait’s Emir Sheikh Sabah Al-Ahmed Al-Sabah on Sunday, said in an interview at a royal palace in Riyadh. “We believe we can have something soon.”

The fields of Khafji and Wafra are located in Neutral Zone, a portion of the two countries’"...

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October 6, 2018

(WAM) -- Japan imported 31.1 million barrels of crude oil from the United Arab Emirates in August 2018, data released by the Agency for Natural Resources and Energy in Tokyo showed.

This accounted for 29.6 percent of Japan's total crude imports, the agency that belongs to the Ministry of Economy, Trade and Industry, said.

Japan’s crude oil imports from Iran and Russia in August amounted to 5.5 million barrels and 5.4 million barrels, respectively.

Arab oil accounted for 84 percent,"...

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October 4, 2018

Emirates National Oil Company Group (Enoc) has signed a memorandum of understanding (MoU) with Enemed, the state-owned fuel distributor and supplier in Malta, to strengthen cooperation for projects in Malta and other international markets.

Enemed Company, established in September 2014, is a wholly owned subsidiary of the state-owned Petromal Company. The company is responsible for the import, distribution and wholesale of petroleum products including the aviation sector.

As part of the agreement, Enoc Group will explore growth opportunities in Malta, and potential areas of cooperation between both companies, said a statement from the company.

These plans are in line with the group’s"...

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October 4, 2018

(WAM/S&P Platts) -- Oil product stocks in the Middle Eastern hub of Fujairah surged 17 percent on the week to 19.272 million barrels in the week to Monday, according to the Fujairah Energy Data Committee.

The biggest rise was in light distillate stocks, which rose 26.1 percent to a three-month high of 7.432 million barrels.

'Steady demand in the Middle East is pulling in increasing volumes of gasoline from the Mediterranean, which is now long on supply after a tight summer,' S&P Global Platts Analytics said in a report Wednesday.

Middle"...

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