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Latest News & Updates

World Oil

OPEC has lost what control of the oil market it ever had. The actions (or tweets) of three men — Presidents Donald Trump and Vladimir Putin and Crown Prince Mohammed Bin Salman — will determine the course of oil prices in 2019 and beyond.
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The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century
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he Abu Dhabi National Oil Company (ADNOC) has announced a $1.4 billion investment to upgrade and expand its Bu Hasa field, which will increase crude oil production capacity to 650,000 bpd.
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The Abu Dhabi National Oil Company (ADNOC) has agreed, in principle, to extend to 2040 its gas supply agreement with ADNOC LNG, in coordination with ADNOC LNG’s joint venture partners, Mitsui, BP and Total. The new gas supply agreement is scheduled to take effect from April 1, 2019, replacing an existing agreement, due to expire on March 31, 2019.
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OPEC will cut or adjust production as needed to balance the market, the group’s president, UAE Energy Minister Suhail Al Mazrouei, said Wednesday.
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Unique Group, one of the world’s leading integrated subsea and offshore solution providers, together with Innovo, an engineering, construction and equipment rental company, have successfully completed a multi-million dollar decommissioning contract for Italian global marine, oil and gas contractor, Saipem, on a key offshore platform in the Middle East region.
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Israel has announced the launching of its second bid round to grant exploration licenses for natural gas and oil in Israel’s economic waters, in the Eastern Mediterranean
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Paradigm Group, the global Dutch innovation and technology company, for the upstream oil and gas industry, has recently opened offices in both China and the Middle East to cater for an increase in international sales and service demand.
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The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have signed the first of a series of concession agreements with Italy’s multi-national oil and gas company, ENI, awarding it a 25% stake in its offshore ultra-sour gas mega project.
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Wood has secured a mult-imillion dollar contract extension from ADNOC Offshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC), for services to the the UZ750 mega project offshore Abu Dhabi.
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