Tokyo: Oil rose, paring a sixth weekly loss, amid growing confidence that Opec and its partners will reduce production to avert a glut next year.

Futures in New York rose 1.8 per cent Friday, trimming the weekly drop to 4.6 per cent. With the Organisation of Petroleum Exporting Countries seeing waning demand for its oil, the group and its allies are said to be considering bigger-than-expected cuts despite criticism from President Donald Trump. In"...

Great Eastern Energy Corporation Limited (LSE: GEEC), the fully integrated, leading Indian Coal Bed Methane (“CBM”) Company, today announced an upgrade in its resources at its Raniganj (South) block, which has been provided by the independent reserve engineers, Advance Resources International, Inc. (“ARI”).

The Government of India has permitted exploration and exploitation of all types of hydrocarbons including shale resources"...

LONDON: Global oil supply will outpace demand throughout 2019, as a relentless rise in output swamps growth in consumption that is at risk from a slowing economy, the International Energy Agency said on Wednesday. In its monthly report the Paris-based IEA left its forecast for global demand growth for 2018 and 2019 unchanged from last month at 1.3 million barrels per day (bpd) and 1.4 million bpd, respectively, but cut its forecast for non-OECD demand growth, the engine of expansion in world oil consumption.

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EMDAD has been part of the growth of the UAE oil and gas sector over the last 40 years. While our first 30 years have seen us accompany ADNOC as a partner, introducing best-in-class products that were required for its operations and field-development projects, the last decade has seen EMDAD develop its service capabilities both upstream and downstream in response to our shareholders’ vision to transform EMDAD into a local, integrated service provider, engaged throughout the energy value chain with particular focus on"...

The Abu Dhabi National Oil Company (Adnoc) has signed an agreement with the Indian Strategic Petroleum Reserves Ltd (ISPRL) to explore storing Adnoc crude oil at ISPRL’s underground oil storage facility in the Indian state of Karnataka.

The underground storage facility at Padur in Karnataka has a 2.5 million-ton (%17 million barrels) capacity. Under the memorandum of understanding (MoU), Adnoc could store crude in two compartments at Padur.

The MoU with ISPRL, an Indian government-owned company"...

AMMAN — The foundation stone for a 52-megawatt (MW) solar photovoltaic power plant, dubbed “AM Solar”, was laid on Wednesday at a total cost of $50 million, in the Madounah area in eastern of Amman.

The plant is a joint venture between US Applied Energy Services-Jordan, the Japanese conglomerate Mitsui and Qatar’s Nebras Power, on a build, own, operate basis, the Jordan News Agency, Petra, reported.

During"...

While digital transformation has been on the oil and gas radar for some time, harnessing the power of new technologies is now the number one priority for the industry’s most senior decision-makers as they plot a path forward for their business.

Responding to the high importance being placed on digital transformation and disruption, the world’s leading oil"...

Israel’s domestic pipeline network doesn’t have the capacity to carry all the natural gas the Tamar and Leviathan partners have contracted to sell to Egypt, TheMarker has learned. The partners are scrambling to find a solution before exports are supposed to begin in the first half of 2019.

Knowledgeable sources told TheMarker that the critical length of pipeline belonging to Israel Natural Gas Lines – the company responsible for"...

The Abu Dhabi National Oil Company’s (ADNOC) announced, today, its plans to launch a new integrated gas strategy and increase its oil production capacity to 4 million barrels per day (mmbpd) by the end of 2020 and 5mmbpd by 2030, following approval from the Supreme Petroleum Council (SPC), the highest governing body of the oil and gas industry in Abu Dhabi. The company also announced capital investment growth of $132.33 billion between 2019-2023 and new discoveries of 1 billion barrels"...