December 9, 2019

KUWAIT CITY, Dec 8: Kuwait, along with its brothers in the Kingdom of Saudi Arabia and the United Arab Emirates, have succeeded in leading the Organization of Petroleum Exporting Countries (OPEC) and its allies (OPEC +) to agree to an additional reduction of oil production by 500,000 barrels during the meetings that took place last Friday in the Austrian capital (Vienna), reports Al-Anba daily.

The Kuwaiti Minister of Oil, Dr Khaled Al-Fadil said the success of Kuwait, Saudi Arabia and the UAE in leading the production cut is considered one of the most important results of the (OPEC) meeting to reduce oil production by half a million barrels"...

December 9, 2019

The Emirates Nuclear Energy Corporation (Enec) convened representatives and delegates from a diverse range of UAE government entities at a Knowledge Sharing Forum focused on business continuity management in Abu Dhabi, UAE.

Attendees learned about latest best practices in business continuity management within the peaceful nuclear energy industry and how these best practices can be implemented across other sectors.

Participants had the opportunity to facilitate dialogue on this critical topic, and share Enec`s experiences in implementing business continuity management systems within the context of the peaceful nuclear energy industry.

Since its establishment a decade ago, Enec has"...

December 9, 2019

Schlumberger Limited (NYSE:SLB) will hold a conference call on January 17, 2020 to discuss the results for the fourth quarter and full year ending December 31, 2019.

The conference call is scheduled to begin at 8:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time.

To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is"...

December 8, 2019

VIENNA: Kuwait’s Minister of Oil Dr Khaled Al-Fadhel said Friday his country, Saudi Arabia and the United Arab Emirates lobbied successfully for the OPEC Plus pledge to cut the glut in oil production. In statements to KUNA, the minster commended the decision made earlier by the oil ministers of OPEC and non-OPEC producers to curtail the output by 500,000 barrels per day until next March. The decision, unanimously approved by the seventh ministerial meeting of OPEC and non-OPEC partners, takes effect as of January, he pointed out. Fadhel reaffirmed Kuwait’s commitment to its production quota with a view to ensuring equilibrium of the global oil market and protecting the interests of producers and consumers"...

December 8, 2019

PW Power Systems (PWPS), the leading provider of aero-derivative power generation energy solutions, announces that PREPA (Puerto Rico Electric Power Authority) has three, PWPS FT8® MOBILEPAC® gas turbines ready for operation. The 30-megawatt mobile gas turbine units are now available for emergency power, as well as for grid security in support of Puerto Rico’s environmental sustainability plan. PWPS supported ARG Precision Corporation, which completed the turnkey installation of the FT8"...

December 4, 2019

Opec and its allies are expected to roll over their existing production cuts, which expire in March 2020, for a duration of three months, with a possible extension towards the end of 2020, according to a report.

Opec+, a loose organisation of 24 oil producing nations led by Saudi Arabia and Russia, will meet in Vienna this week to discuss their existing oil output cuts and chalk out a future strategy to balance the market amid a global slowdown, shrinking oil demand and geopolitical tensions in parts of the region.

The group, which agreed to cut supply by 1.2 million"...

December 3, 2019

TOKYO, 1st December, 2019 (WAM) -- Japan imported 32.24 million barrels of crude oil from the UAE in October, data released by the Agency of Energy and Natural Resource in Tokyo showed.

The figure accounts for 37.6 percent of Japan's total oil imports, which represented the highest amount from one country in the reported month.

Arab oil accounted for 79.15 barrels or 92.4 percent of Japan’s petroleum needs in October. Crude oil provides around 35 percent of energy needed to generate the third biggest economy in the world, according to the ministry.

December 1, 2019

Masdar, one of the world's leading renewable energy companies, has entered into a formal agreement with the Armenian National Interests Fund (Anif) to develop solar power projects with a total capacity of 400MW in Armenia, an investment of between $300 million and $320 million into the Armenian economy.

Mohamed Jameel Al Ramahi, CEO of Masdar, a Mubadala company, and David Papazian, CEO of ANIF, a state-owned foreign direct investment vehicle, signed a joint development agreement at a private ceremony in Abu Dhabi, witnessed by Armen Sarkissian, President of the Republic of Armenia; Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister"...

December 1, 2019

ABU DHABI, 30th November, 2019 (WAM) -- The Abu Dhabi National Oil Company hosted 200 members of the global financial and investment community at its second investor forum in Abu Dhabi, providing attendees with a deeper understanding of ADNOC’s transformation and delivery, value creation plans, 2030 smart growth strategy and pipeline of new partnership and co-investment opportunities across its value chain on its path to building an integrated global energy leader of the future.

During the forum, ADNOC senior management presented an overview of ADNOC’s world-class assets and footprint along the oil, gas and petrochemical value chain"...

November 30, 2019

(WAM) -- H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, received today at his palace, Saeed Al Tayer, Vice Chairman of Emirates National Oil Company, ENOC, Group, and his accompanying delegation who called on Sheikh Saud to congratulate him on the inauguration of the region’s largest Tasjeel Auto Village in Ras Al Khaimah by ENOC.

Al Tayer was accompanied by Saif Humaid Al Falasi, Group CEO of ENOC, Zaid Alqufaidi, Managing Director of ENOC Retail, and Husam Al Shawi, General Manager of Tasjeel.

The meeting was attended"...