ADNOC Distribution company announced that it has achieved net profit worth AED 631 million during Q1 of 2021 including Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of AED 740 million.

ADNOC Distribution announced that it managed to achieve its growth strategy during 2020 by increasing its services station network and modernizing its ADNOC Oasis convenience stores.

Chinese oil productivity has gradually declined by 0.5% reaching 14.9 million barrels per day (mmbl/d) in December 2020 after recording a high in November. While the country’s total crude proceeded during 2020, jumped up 2.7% reaching 13.51 mmbl/d compared to the previous year.

The Asian gas oil demand is expected to grow in 2021 driven from expectations of increase in the consumption especially during the second half of the year.

Saudi Mining Sector has achieved growth 3.1% during the Q1 of the current year despite the exceptional circumstances of Coronavirus pandemic.

Egypt’s growth has been forecasted to increase to 4.5% during fiscal year (FY) 2017/2018, compared to 4.2% in FY 2016/2017, due to the ongoing economic reforms and the developed business climate.

The International Monetary Fund (IMF) cuts again its growth forecast for Nigeria as the oil exporter faces "substantial challenges" due to low crude prices.

"The UAE played a key role in the political stability of this region and the UAE will play ... a key role in the stability of the market," the UAE oil minister Suhail al-Mazrouei was quoted as saying.

Saudi Arabia's plans to diversify its economy away from oil gained additional imputes with the announcement that the country's mining sector is set to triple by 2030.

Oil at $50 a barrel is a “gift to the world” as prices should be low enough to spur economic growth, explained Ali Al Mansoori head of Abu Dhabi’s Department of Economic Development