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OPEC, non-OPEC committee recommends extending cut OPEC and rival oil producers are meeting in Kuwait to review progress with their global pact to cut supplies.

OPEC, non-OPEC committee recommends extending cut

OPEC and rival oil producers are meeting in Kuwait to review progress with their global pact to cut supplies

 •   Market to determine OPEC cut extension: Al-Luaibi
 •   Oil advances on talk of extension to OPEC cuts
 •   OPEC output cut compliance at 140% in February


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Market to determine OPEC cut extension: Al-Luaibi

Market to determine OPEC cut extension: Al-Luaibi

The output cut deal has elevated the price of crude to more than $50 a barrel but helped US shale oil producers boost their output, hampering efforts to reduce global stockpiles
 
LNG buyers unite to push for flexible contracts

LNG buyers unite to push for flexible contracts

The unusual alliance will pressure LNG exporters who currently have clients locked into decades-long fixed supply contracts that oblige buyers to take fixed amounts of monthly volumes irrespective of demand
 
Growth for oilfield services, drilling: Moody's

Growth for oilfield services, drilling: Moody's

The revised outlook comes as oil prices and upstream spending show continued signs of recovery, buoyed by expected improvements in OFS operating margins from very depressed levels and an expansion of upstream drilling budgets
 
Saudi Aramco plans $2bn debut bond ahead of IPO

Saudi Aramco plans $2bn debut bond ahead of IPO

Saudi Aramco is preparing to sell bonds ahead of an IPO in 2018, the latest in a string of debt sales that raised almost $80bn for countries in the region
 

 

Oil advances on talk of extension to OPEC cuts

Oil advances on talk of extension to OPEC cuts

OPEC sources have indicated that its members increasingly favour extended production cuts but want the backing of non-OPEC oil producers, such as Russia
 
MENA energy investments to approach $1tn: APICORP

MENA energy investments to approach $1tn: APICORP

While global investments in the industry continued their decline in 2016, down by 24% as compared to 2015, the MENA region is expected to see an increase of 7% in energy investment activity compared to data of the previous year
 
Etihad to support 2019 World Energy Congress

Etihad to support 2019 World Energy Congress

The agreement appoints Hala Abu Dhabi as the official travel and destination partner alongside Etihad Airways as the official airline for the 2019 World Energy Congress in Abu Dhabi.
 
Omani OOCEP named fastest-growing regional company

Omani OOCEP named fastest-growing regional company

OOCEP earned this recognition after witnessing its net production significantly increase to 57,000 barrels of oil equivalent per day since 2015
 
Aramco selects FTI as global media advisor for IPO

Aramco selects FTI as global media advisor for IPO

Industry sources have told Reuters that FTI Consulting's main competition in the bidding was international consulting firm Brunswick Group
 
Heavy oil consolidates status in energy mix: BAPCO

Heavy oil consolidates status in energy mix: BAPCO

The Middle East holds nearly 1tn barrels of heavy crude oil, accounting for nearly 30% of the world's reserves, according to an industry Report
 
Algeria energy regulator awaits favourable market

Algeria energy regulator awaits favourable market

ALNAFT president says North African country planning to intensify efforts to unlock and develop untapped reserves; believes NAPEC event will provide platform for government to attract collaboration
 
Oil prices hit 3-month low as US rig count climbs

Oil prices hit 3-month low as US rig count climbs

Overshadowing the cuts, crude inventories in the United States, the world's top oil consumer, surged last week by 8.2mn barrels
 
Preparing the UAE for the end of the oil era

Preparing the UAE for the end of the oil era

Emiratis were encouraged to move away from business and finance courses, seen as preparation for a government job, and pursue science, technology, mathematics, and especially engineering
 
UAE needs investments to plug forecast gas deficit

UAE needs investments to plug forecast gas deficit

MEED report suggests there are several gas import projects in operation in the UAE, helping the country meet its natural gas demand
 
NDT CCS acquires majority stake in Omani firm

NDT CCS acquires majority stake in Omani firm

NDT CCS provides conventional and advanced NDT services as well as material testing laboratory services for a range of industrial sectors including oil and gas, petrochemicals, mining, nuclear and utilities
 




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