DUBAI / WAM National Central Cooling Company, Tabreed, on Wednesday, released its financial results for the first nine months of 2018, reporting a 10% increase in net profit to AED319.3 million for the year up to September 30, compared with the same period in 2017. Tabreed’s latest financial results follow its announcement last month that it successfully issued a $500 …

Bloomberg Opec and allied oil producers will cut or adjust production as needed to balance the market, the group’s president, United Arab Emirates Energy Minister Suhail Al Mazrouei, said on Wednesday. If Opec+ needs to reduce output, it will do so, he said in a Bloomberg TV interview in Abu Dhabi. The producers will take whatever steps are necessary to …

Bloomberg The International Energy Agency (IEA) welcomed the oil market’s return to surplus as Opec’s production surge sw-ells global stockpiles and drives prices into a bear market. Inventories in industrialised nations have increased for four straight months and are set to jump by 2 million barrels a day next half if current output is maintained, the IEA said in its …