News

KIEV / WAM UAE Ambassador to Ukraine Salem Ahmed Al Kaabi and the Minister of Foreign Affairs of Ukraine, Kuleba Dmytro, have discussed ways to develop relations and enhance cooperation between the two countries across various fields of mutual interest. They also discussed efforts to confront the Covid-19 pandemic. Kuleba affirmed the interest of the Ukrainian President, Volodymyr Zelensky, to …

Bloomberg Oil in New York inched higher with investors assessing the impact of supply curbs from Iraq and Libya on the near-term outlook. Iraq pledged to cut output in January and February after pumping more than its Opec+ quota last year, and Libyan guards halted some crude exports after a pay dispute. Crude was also buoyed by a renewed climb …

ABU DHABI / WAM Spain is interested in exploring the UAE’s expertise in the production of offshore green hydrogen, which is dubbed as ‘the oil of the future’ that can heavily help reduce carbon emissions, according to a top Spanish official. In an exclusive interview with Emirates News Agency (WAM), Teresa Ribera, Deputy Prime Minister of Spain and Minister for …

Bloomberg Iraq plans to cut oil output in January and February to make up for breaching its Opec+ quota last year, according to the state company that markets the nation’s crude. Opec’s second-biggest producer will pump around 3.6 million barrels daily for the two months, according to Ali Nizar, the deputy head of SOMO. That compares with around 3.85 million …

ABU DHABI / WAM The World Muslim Communities Council has commended the pioneering step through which the United Nations General Assembly adopted, unanimously, the project presented by Saudi Arabia, Egypt and Morocco, and supported by many brotherly and friendly countries, to promote a culture of peace and tolerance to protect religious sites. The Council expressed its pride and deep appreciation …

HARGEISA / WAM A delegation from the Khalifa bin Zayed Al Nahyan Foundation has opened a kidney dialysis centre in the Republic of Somaliland for the benefit of more than 30 patients per day. The move comes in line with the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the support of HH Sheikh Mohamed bin Zayed …

Bloomberg Hours after taking office, President Joe Biden made good on a campaign promise to cancel the Keystone XL oil pipeline. Later that day his Interior Department mandated that only top agency leaders could approve new drilling permits over the next two months. Next week, according to people familiar with the plans, Biden will go even further: suspending the sale …

Bloomberg Boeing Co set a target of designing and certifying its jetliners to fly on 100% sustainable fuels by 2030 amid rising pressure on planemakers to get serious about climate change. Regulators currently allow a 50-50 blend of sustainable and conventional fuels, and Boeing said it would work with authorities to raise the limit. Rival Airbus SE is considering another …

Bloomberg Brent oil extended gains to above $56 a barrel, rising with other assets on hopes of more US economic stimulus. While crude prices have undulated with the dollar and broader risk assets in recent days, it’s also being supported by renewed strength in the market’s structure. US crude’s closest contract is near the most expensive versus those for six …

Bloomberg The International Energy Agency (IEA) lowered forecasts for global oil demand as renewed lockdowns to contain the pandemic temper the recovery expected this year. “The global vaccine roll-out is putting fundamentals on a stronger trajectory for the year, with both supply and demand shifting back into growth,” the agency said in a monthly report. “But it will take more …