Bloomberg A pile up of tankers waiting in the North Sea suggests a glut is building again in the market where benchmark crude is traded, highlighting the task facing OPEC as it seeks to rein in a global glut. At least 10 tankers are at or near two locations off the U.K. coast where they must wait to transfer ...

  Bloomberg OPEC could cut production at its late November meeting in Vienna by another one percent more than the amount agreed in Algiers last month, if producers reckon it is needed, Algeria’s Energy Minister Nouredine Bouterfa has told local Ennahar TV. He also told Ennahar that OPEC and non-OPEC members would hold an informal meeting in Istanbul Oct. 8-13 ...

  Reuters Oman Oil Company Exploration & Production (OOCEP) has appointed Sumitomo Mitsui Banking Corp as financial advisor to arrange a loan which is likely to be in excess of $1 billion, banking sources told Reuters. The upstream oil and gas company, a subsidiary of state-owned Oman Oil Co, is expected to raise the financing early next year, the sources ...

  Bloomberg BHP Billiton Ltd. sees oil and gas markets rebounding faster than its mined commodities as it considers potential acquisitions and weighs as much as $5 billion in project spending. The world’s biggest miner, which booked writedowns of $7.2 billion against its U.S. shale unit earlier this year, said recovering oil prices and efforts to lower costs are making ...

  Bloomberg India’s largest oil and gas producer will continue with its record investment plan despite a cut in domestic gas prices, which were reduced for the fourth consecutive time last week. Oil and Natural Gas Corp. plans to invest about 300 billion rupees ($4.5 billion) in the year beginning April 1, including investment in its gas-rich Krishna-Godavari block off ...

  ABU DHABI / WAM The UAE established the foundations and favourable circumstances for excellence in education and in other sectors in a short time providing a driver for continuous development, thanks to the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, said His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and ...

  DUBAI / WAM Dubai South has assigned Etihad ESCO to provide advisory and implementation services for its energy efficiency and environmental sustainability initiatives, as well as implement the adoption of Dubai Green Building Regulations across the city. The parties signed a Memorandum of Understanding, MoU, to this effect at WETEX 2016, currently taking place at the World Trade Centre, ...

  DUBAI / WAM In its ongoing commitment to champion the UAE’s clean energy agenda, the Dubai World Trade Centre, (DWTC), has conducted an extensive feasibility study to use solar energy across its real estate assets, in both the Trade Centre and Jebel Ali locations. Within the DWTC complex, the Dubai International Convention and Exhibition Centre, DICEC, is planning to ...

  ABU DHABI / WAM The Dolphin Energy Limited, Dolphin, and Qatar Petroleum, on Wednesday signed a long-term liquefied natural gas (LNG) sale and purchase agreement in Doha, Qatar. As per the agreement, Qatar Petroleum will supply additional quantities of LNG to Dolphin for exporting them to the UAE through the offshore pipeline extending between the two countries. Dr. Sultan ...

  ABU DHABI / WAM The total value of margin trading in Abu Dhabi Securities Exchange (ADX) has reached AED10.5 billion during the first nine months of 2016. The value of margin trading, according to Rashed Al Blooshi, Chief Executive of ADX, has represented 15.5 percent of total trade deals in the market that equalled AED68 billion. Real estate companies ...