ABU DHABI, 20th March, 2019 (WAM) -- The Abu Dhabi National Oil Company, ADNOC, has won the 'Oil and Gas Project of the Year' accolade at the 2019 MEED Projects Awards.

The award was presented to ADNOC for the Taweelah Gas Compression Plant project that was completed in record time, under the highest safety standards. The award recognises Taweelah’s strategic importance to the UAE’s gas security and ADNOC’s commitment to"...

Doha: Qatar yesterday announced the launch the world’s largest Shariah-compliant ‘Energy Bank’ with a targeted capital of $10bn (QR36.41bn) to finance local as well as overseas energy projects.

This was announced at a press conference held on the sidelines of the 5th edition of the Doha Islamic Finance Conference, by Khaled Al Suwaidi, the Chairman of the Founding Committee of the anticipated biggest energy sector dedicated lender"...

BAKU: The investments needed to ensure stability in the global oil industry are returning after a downturn, but the pace is still slow, Opec Secretary General Mohammed Barkindo said. Barkindo was talking to media on the sidelines of an Opec and non-Opec monitoring committee, which is meeting this weekend in the Azeri capital of Baku. He also said leading oil producing nations have made significant achievements in terms of cooperation and efforts to avoid imbalance between the supply and demand on the global oil market. Barkindo"...

Italian company Eni said on Wednesday it had made a major oil discovery in Angola that would boost its credentials as one of the most successful foreign oil producers in Africa in recent years.

The find is Angola's largest offshore discovery in years and may help Africa's second-biggest crude producer avoid a steep decline in output due to the ageing of its other fields.

Oil"...

A rapidly digitising oil and gas industry can offer a more technology-enabled workforce of the future the opportunities for a career utilising skills such as IT, programming and creative thinking.

According to a survey of more than 3,000 students, graduates and young professionals specialised in science, technology, engineering and mathematics - or Stem - subjects, across 10 countries, oil and gas is less-impacted by technology than healthcare or"...

NEAR KAHTANIEH, Syria – Black clouds hang over Rojava, and not just figuratively. The Kurdish-led administration is well aware its ramshackle oil refineries are polluting the air, soil, and water, but officials say it lacks the money and expertise to clean them up or to find alternatives.

“When we wake up in the morning, we smell the bad smoke. It used to be we would wake up and it smelled good and clean,” said 62-year-old farmer Abid Ramadan Mohammed.

A slim man with his head wrapped"...

NEW DELHI: Saudi oil minister Khalid al Falih said on Sunday that China and the US would lead healthy global demand for oil this year but that it would be too early to change Opec+ output policy at the group’s next meeting in April. He said total global oil demand is set to grow by around 1.5 million barrels per day (bpd). “If you look at Venezuela alone you would panic, if you look at the US you would say the world is awash with oil. You have to look at the market as a whole. We think 2019 demand is actually"...

Tesla Inc’s sudden decision to shutter the bulk of its stores around the world raises a red flag over the future of its solar branch, a declining business it paid $2.6 billion for in a controversial 2016 deal. Chief Executive Elon Musk’s announcement that the electric vehicle maker would close “many” of its stores around the world to sell cars online-only removes the only retail outlet for solar sales since Musk pulled the plug on a partnership with Home Depot last June.
“Solar is now the"...

SINGAPORE: Oil prices rose on Wednesday after a report of declining US crude inventories and as producer club Opec seemed to stick to its supply cuts despite pressure from US President Donald Trump. US West Texas Intermediate (WTI) crude oil futures were at $55.89 per barrel at 0755 GMT, up 39 cents, or 0.7 per cent, from their last settlement.
International Brent crude futures were at $65.48 per barrel, up 27 cents, or 0.4 per cent from their last close.
US crude oil inventories fell by 4.2 million barrels in"...