UAE | Egypt Oil & Gas - Part 34
ADNOC Subsidiary Issues $3B Bond
Abu Dhabi Crude Oil Pipeline (ADCOP) issued a $3 billion bond on Monday, Zawya reports. The bond offering was over subscribed, receiving over $11 billion in offers, according to The National. It is not clear how the f...
ADNOC Distribution IPO Still On for 2017
Abu Dhabi National Oil Company (ADNOC) is planning an initial public offering (IPO) in December for its retail operations, sources told Reuters. The company’s retail division, ADNOC Distribution, sells gasoline in the...
December OSPs Rise
Last week Saudi Arabia and the UAE raised their official selling prices (OSPs) for December, Platts reports. The OSPs for Saudi Arabia’s Asia-bound crudes rose across the board. It raised December OSPs for Arab Extra ...
UAE to Continue Cuts into December
The UAE announced it would continue its production cuts in December, Reuters reports. The Abu Dhabi National Oil Company (ADNOC) announced last week that it would cut sales of its Murban crude by 15%, its Das crude by...
ADIPEC to Expand Networking Assistance
The Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) is looking to expand its Global Meetings Program to facilitate trade and business networking among attendees at this year’s event, Egypt Oil &...
Fujairah Stocks Drop to 16.8M Barrels
The supply of refined products at Fujairah, an oil terminal in the UAE, fell to 16.8 million barrels, a 6.9% decrease, Zawya reports. The decline was led by falling stocks of light distillates. They fell by 23.5% to 4...
ADNOC to Offer IPO of Distribution Unit in 2017
Abu Dhabi National Oil Company (ADNOC) is planning an initial public offering (IPO) of ADNOC Distribution this year, sources told Bloomberg. ADNOC Distribution is the fuel-retail division of ADNOC and sells gasoline i...
OPEC Secretary General Hints at “Extraordinary Measures”
“Extraordinary measures” may be necessary to stabilize oil markets, the Secretary –General of OPEC, Mohammad Barkindo, told reporters, according to Reuters. “There is a growing consensus that … a rebalancing process i...
