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Total CEO urges refiners to slash capacity Total is planning to cut 20% of its refining capacity in 2016.

Total CEO urges refiners to slash capacity

Despite a good year for margins, growing overcapacity is threatening profits

 •   Total signs MoU with American University Sharjah
 •   France's Total signs MoU with Iran to buy crude
 •   Total going strong in Qatar, eyeing Iran expansion


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Qatar oil output drops to 683,000 bpd in November

Qatar oil output drops to 683,000 bpd in November

The current account surplus narrowed to $2.8bn in Q3 2015 on lower hydrocarbon exports: QNB Economics
 
Almajdouie bags logistics provider award in KSA

Almajdouie bags logistics provider award in KSA

Saudi-based logistics provider awarded '2016 Logistics Service Provider of the Year, KSA' by Frost & Sullivan
 
OPEC points to larger oil surplus in 2016

OPEC points to larger oil surplus in 2016

OPEC, in its monthly report, indicates supply will exceed demand by 720,000 bpd in 2016, up from 530,000 bpd implied in the previous report
 
Bristow Group invests $4.2mn in Sky Futures

Bristow Group invests $4.2mn in Sky Futures

Drone technology is a fast growing area in oil and gas
 

 

Al Falahi signs business deal with Chinese firm

Al Falahi signs business deal with Chinese firm

Company will produce and supply equipment within the oil services sector for both public and private enterprise
 
Total signs MoU with American University Sharjah

Total signs MoU with American University Sharjah

Partners to collaborate in areas of teaching, research, and professional development
 
Kuwait reviews bid to slash fuel subsidies

Kuwait reviews bid to slash fuel subsidies

The Gulf nation's government has proposed to raise petrol prices to 85 Kuwaiti fils a litre for low-grade 90 octane fuel, and 105 fils a litre for 95 octane petrol
 
Pakistan set to sign 15-year deal for Qatari LNG

Pakistan set to sign 15-year deal for Qatari LNG

South Asian country to seal an import deal for 3.5mn tonnes of LNG per year from Qatar, raising it from the previously agreed 1.5mn tonnes
 
3rd Global Commodity Conference concludes in Dubai

3rd Global Commodity Conference concludes in Dubai

Event attracted over 400 industry delegates to discuss price fluctuations, demand and market volatility
 
Glasspoint hires local Omani firm for CSR activity

Glasspoint hires local Omani firm for CSR activity

Sustainable Square will work with GlassPoint to establish its social investment strategy and launch new programmes for Oman
 
Aramco cuts March light crude oil pricing for Asia

Aramco cuts March light crude oil pricing for Asia

Saudi Aramco lowered its official selling price for Arab Light crude to Asia by 20 cents/bbl to $1/bbl less than the regional benchmark
 
Staggering 3.4mn barrels of oil produced at a loss

Staggering 3.4mn barrels of oil produced at a loss

That's more than UAE's entire crude oil output
 
Adnoc Smart self-service in Abu Dhabi from March 1

Adnoc Smart self-service in Abu Dhabi from March 1

The pilot phase of the project, running till October 1, will cover four service stations on Abu Dhabi Island and allow customers to try out self-refuelling, using a variety of payment methods
 
Dubai Mercantile Exchange sets record in January

Dubai Mercantile Exchange sets record in January

Physical delivery for March loading reached 27.3mn barrels; average daily volume increase by 17%
 
Oman targets daily crude output close to 1mn bpd

Oman targets daily crude output close to 1mn bpd

The Sultanate's oil and gas minister also said that the country is on track to reduce the oil industry's contribution to the GDP to 22% from 44% by 2020
 




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