Oil & Gas

  • United Arab Emirates: TotalEnergies and ADNOC...

    On the occasion of the state visit in Paris of His Highness Sheikh, Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, TotalEnergies and Abu Dhabi National Oil Company (ADNOC) have signed a strategic partnership agreement that aims to jointly evaluate new growth opportunities in the following areas:

  • National Petroleum Construction Company and...

    On the sidelines of UAE President His Highness Sheikh Mohamed Bin Zayed Al Nahyan’s visit to Paris, H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and Catherine Colonna, Minister for Europe and Foreign Affairs witnessed the signing of an agreement to establish a new joint company between National Petroleum Construction Company, a subsidiary of National Marine Dredging Company (The Group), and Technip Energies.

  • OPEC Expects Oil Demand Growth to Strengthen...

    Crude Oil Price Movements
    Crude oil spot prices rose in June, extending the previous month’s increase. Higher futures prices and strong physical crude market fundamentals drove the increase, amid higher crude demand from refiners and several supply disruptions. The OPEC Reference Basket rose $3.85, or 3.4%, to settle at $117.72/b. The ICE Brent front month increased by $5.54, or 4.9%, in June to average $117.50/b and NYMEX WTI rose by $5.08, or 4.6%, to average $114.34/b. The Brent/WTI futures spread widened by 46¢ to an average of $3.16/b. The
    market structure of all three major crude benchmarks – ICE Brent, NYMEX WTI and DME Oman – strengthened further in June and prompt time spreads moved into deeper backwardation. Hedge funds and other money managers cut net long positions by nearly 11% in the two major futures contracts.

  • FUJAIRAH DATA: Oil product stocks reach 1-year...

    Oil product inventories at the UAE’s Port of Fujairah climbed to a one-year high as of July 4 with gains across the board, according to Fujairah Oil Industry Zone data shared exclusively with S&P Global Commodity Insights on July 6.

  • World crude oil production increased in 2021: OPEC

    The total world crude oil production increased in 2021 by 0.52 million barrels/day (m b/d) or 0.8 percent, as compared to 2020, for an average of 69.64m b/d, according to the Annual Statistical Bulletin (ASB), one of the flagship publications of the Organisation of the Petroleum Exporting Countries (OPEC).

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National Petroleum Construction Company and Technip Energies establish a new company

On the sidelines of UAE President His Highness Sheikh Mohamed Bin Zayed Al Nahyan’s visit to Paris, H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and Catherine Colonna, Minister for Europe and Foreign Affairs witnessed the signing of an agreement to establish a new joint company between National Petroleum Construction Company, a subsidiary of National Marine Dredging Company (The Group), and Technip Energies.

English

United Arab Emirates: TotalEnergies and ADNOC Expand Strategic Alliance

On the occasion of the state visit in Paris of His Highness Sheikh, Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, TotalEnergies and Abu Dhabi National Oil Company (ADNOC) have signed a strategic partnership agreement that aims to jointly evaluate new growth opportunities in the following areas:

English

OPEC Expects Oil Demand Growth to Strengthen Moving Forward

Crude Oil Price Movements
Crude oil spot prices rose in June, extending the previous month’s increase. Higher futures prices and strong physical crude market fundamentals drove the increase, amid higher crude demand from refiners and several supply disruptions. The OPEC Reference Basket rose $3.85, or 3.4%, to settle at $117.72/b. The ICE Brent front month increased by $5.54, or 4.9%, in June to average $117.50/b and NYMEX WTI rose by $5.08, or 4.6%, to average $114.34/b. The Brent/WTI futures spread widened by 46¢ to an average of $3.16/b. The
market structure of all three major crude benchmarks – ICE Brent, NYMEX WTI and DME Oman – strengthened further in June and prompt time spreads moved into deeper backwardation. Hedge funds and other money managers cut net long positions by nearly 11% in the two major futures contracts.

English

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