UAE | Egypt Oil & Gas - Part 36
UAE’s Fuel Prices to Increase in August
The UAE’s Ministry of Energy announced that fuel prices will rise in August, reports Khaleej Times. The price of the unleaded gasoline 98 will increase to $0.51 per liter from $0.50 in July. The price of unleaded gaso...
Kuwait Promises to Reduce Oil Production, Following UAE
Kuwait is promising to decrease its oil production in response to Saudi Arabia’s call for fellow members of the Organization of the Petroleum Exporting Countries (OPEC) to cut more supply in order to aid in restrainin...
UAE Promises More Oil Production Cuts Starting September
The United Arab Emirates (UAE) renewed its commitment to the Organization of Petroleum Exporting Countries (OPEC) agreement on limiting production and said it would boost its own curbs, Bloomberg stated. The Abu Dhabi...
UAE Replaces Qatar Condensate with US Oil Cargo
The United Arab Emirates (UAE) will import its first oil cargo from the United States (US), as the Gulf nation seeks alternative exporters to replace the Qatari condensate supplies after the current diplomatic conflic...
Qatar Continues Gas Supply to UAE
Qatar Petroleum’s CEO stated that Qatar will not cut off gas to the United Arab Emirates despite a diplomatic dispute and a “force majeure” clause in its contract, reported Reuters. The CEO’s c...
Dana Gas to Restructure Sukuk
Dana Gas, a MENA independent natural gas exploration and production company, has proposed a restructuring to holders of the $700m of its Sukuk maturing in October 2017. Its proposal is on the basis that these Sukuk ar...
Oil Jumps as Arab Countries Cut Ties with Qatar
Oil jumps by 1.5% as Egypt, Saudi Arabia, Bahrain and the United Arab Emirates effectively create a land and air blockade of Qatar, Market Plus informed. While the diplomatic spat hasn’t affected shipments, it raises ...
UAE’s Enoc Pays Iran $4b in Oil Dues
Iran has said it had received more than $4b from Emirates National Oil Company (Enoc), as part of the UAE retailer’s settlement of its debts owed to Iran for pre-sanction oil and gas purchases, Al-Jazeera report...
