UAE | Egypt Oil & Gas - Part 27
ADNOC to Boost Oil Production Capacity to 5M b/d by 2030
The Abu Dhabi Oil Company (ADNOC) has revealed plans to boost its production capacity to 5 million barrels per day (b/d) by the end of 2030, Pipeline Oil & Gas Magazine reported. The Abu Dhabi’s Supreme Petroleum ...
Abu Dhabi’s NPCC Awarded $231M Kuwait Oil Construction Contract
Abu Dhabi’s National Petroleum Construction Co. (NPCC) announced on October 2 that it had won a $231 million construction contract from the Kuwait Oil Company, Reuters reported. Under the contract, NPCC will bui...
UAE’s RAK Gas Signs Production Sharing Agreement with Zanzibar
UAE Emirate Ras Al Khaimah, the owner of RAK Gas, announced on October 29 the signing of an oil and gas production sharing agreement with Tanzania’s semi-autonomous region of Zanzibar, Reuters reported. The agre...
ADNOC to Contribute to Mangalore Oil Reserves in November
The Abu Dhabi National Oil Company is planning to fill up storage tanks contracted from the Indian government in the first week of November, Reuters reported. ADNOC has already filled two-thirds of the 5.86 million ba...
UAE’s Fujairah Oil Stocks Up 5.8% on Week
Oil stocks in the Fujairah emirate increased 5.8% week-on-week to 21.612 million barrels on October 22, Emirates News Agency (WAM) reported. Stocks of light distillates rose by 8.8%, the biggest weekly rise. Residues ...
ENOC, Bangladesh Agree Feasibility Study for LPG Terminal
The Emirates National Oil Company (ENOC) and the Bangladesh Petroleum Company (BPC) signed a deal to conduct a feasibility study on a liquefied petroleum gas (LPG) terminal in the country, Reuters reported. “Tod...
OPEC to No Longer Release Specific Oil Prices to Avoid US Legal Risk: Reuters
OPEC has advised its members to not mention oil prices when discussing policy in order to avoid US legal action over manipulating the market, sources close to OPEC told Reuters. Proposed US legislation known as “NOPEC...
Mubadala Shelves Cespa IPO Plans
Abu Dhabi’s state-owned Mubadala Investment Company has halted plans to list 25% of Spanish oil company Cepsa after investors were not convinced by its valuation, Bloomberg reported. “Recent international econom...
