SULAIMANI — Global oil demand growth is expected to slow from 2025 as fuel efficiency improves and the use of electrified vehicles increases but is unlikely to peak in the next two decades, the International Energy Agency (IEA) said on Wednesday (November 13).

The Paris-based IEA, which advises Western governments on energy policy, said in its annual World Energy Outlook for the period to 2040 that demand growth would continue to increase"...

ABU DHABI, 12th November, 2019 (WAM) -- ExxonMobil has invested around US$6.5 billion in Upper Zakum oilfield since its involvement in the offshore field in 2006, according to Christian G. Lenoble, President and UAE Lead Country Manager of Exxon (Al-Khalij) Inc.

'Upper Zakum is the second largest offshore field in the world and we are planning to participate in increasing its production to one million barrel per day by 2024. It is a target that"...

TOKYO: Oil prices fell more than 1 per cent on Monday amid concerns over the prospects of a trade deal between the United States and China, while worries about oversupply also weighed on the market. Brent crude was down 69 cents, or 1.1 per cent, at $61.82 by 0730 GMT. The contract rose 1.3 per cent last week. US crude was 63 cents, or 1.1 per cent, lower at $56.61 a barrel, having risen 1.9 per cent last week. US President Donald Trump said on Saturday that trade talks with China were moving along “very nicely,”"...

The 20th China International Petroleum & Petrochemical Technology and Equipment Exhibition (cippe2020) will be held at the New China International Exhibition Center in Beijing on March 26-28, 2020. Featuring 1,800 exhibitors, 120,000 professional visitors from 65 countries and regions, and 7 exhibiting halls of 90,000sqm, cippe2020 is a can't-miss event for anyone who wants to explore China’s petroleum and petrochemical market.

cippe"...

SINGAPORE (Reuters) - Oil prices eased on Monday as traders took profit ahead of fresh European and U.S. economic data, despite hopes for some resolution to the U.S.-China trade row that has hurt global economic growth and crimped energy demand.

Prices jumped about $2 a barrel on Friday after the world’s top two economies said they had made progress on trade talks while U.S. officials said the deal could be signed this month.

Brent"...

NEW YORK: Investors are bracing for weaker results from US shale players in coming days as lower oil and natural gas prices and cost-cutting measures have weighed on third-quarter operations.
Major shale producers ConocoPhillips and Concho Resources this week kick off quarterly earnings reports for a group whipsawed this year by volatile pricing and investor demands for improved returns. Oil and gas producers have cut drilling and slashed jobs amid worries over pricing outlooks.
US oil prices are down 17 per cent"...

The power industry tenders activity across the Middle East and Africa (MEA) region witnessed a slowdown in September with just 122 tenders announced, thus marking a 16 per cent decline over the 12-month average of 145, according to GlobalData’s power database.

Looking at tenders by country, Oman led the activity last month with 34 tenders and a share of 27.9% in the MEA region, stated the report.

This was up 20.6% over the previous month and 113% when compared with the last 12 month-average,"...

Dragon Oil Ltd, the exploration and production platform of Emirates National Oil Company (ENOC), said on Monday it has acquired BP’s stake in The Gulf of Suez Oil Company (GUPCO Egypt).

The deal has been concluded after obtaining the approval from the Egyptian Ministry of Petroleum and Mineral Resources, the company said in a statement.

It added that under the terms"...

The UAE has made great strides in setting strategic objectives to protect the environment and conserve natural resources, while achieving robust economic and social development, experts said at the Water, Energy, Technology and Environment Exhibition (Wetex 2019).

Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and President of the Dubai Electricity and Water Authority (Dewa), inaugurated the 21st edition of the event"...