Bloomberg OPEC and allied oil producers should extend their production cuts beyond March to help re-balance the market, the United Arab Emirates said, adding weight to a gathering consensus for longer reductions in output among participants in the global accord. The UAE favours maintaining the cuts, which are set to expire at the end of the first quarter, Minister of …

ABU DHABI / WAM The Abu Dhabi National Oil Company (ADNOC) announced plans to launch Umm Lulu Crude Oil, a new crude blend produced from its Umm Lulu and SARB fields, operated by ADNOC Offshore. Umm Lulu Crude Oil, which has an expected API density of around 39 degrees and sulphur content of around 0.7 percent weight percent, is a …

DUBAI / Emirates Business Union Insurance Company, a leading provider of innovative customer-focussed insurance solut- ions to individuals and corporations in the region, has reported a net profit of as much as AED6.3 million for the first nine months ended on September 30 compared to a net loss of AED12.8 million for the same period last year. Gross insurance premium …