Saudi Arabia and the United Arab Emirates (UAE) have reached a compromise over future oil production baselines - according to an OPEC+ source – in a deal which should unlock more crude to a tight oil market and temper soaring prices. A dispute between Riyadh and...
Oil production amongst OPEC member states fell in August for the first time since March as the cartel continues to lead cutbacks which have been in place since the start of the year. OPEC members pumped 32.76 million barrels per day (bpd) in August, down by...
The United Arab Emirates and India have signed a pact that will allow the Abu Dhabi National Oil Company (ADNOC) to store 6 million barrels of oil in the Indian city of Mangalore. The deal is one of 14 pacts, worth a total of US$75 billion,...
The United Arab Emirates has announced that it will commit US$163 billion to renewable energy projects, in an attempt to generate up to half of the nation’s energy needs from renewables by 2050. The oil rich Gulf state is looking to balance its economic needs with...