DUBAI / WAM HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, has directed all district cooling companies to reduce the fuel surcharge for electricity from 6.5 to 5 fils for kilowatt hour and for water from 0.6 to 0.4 fils for Imperial Gallon, and to fully implement this reduction in their customers’ bills ...

Bloomberg The Finance Ministry of the world’s biggest energy exporter has started preparing for the possibility of lower budget revenues in case global oil demand declines sooner than expected. “The peak of consumption may have already passed,” Deputy Finance Minister Vladimir Kolychev said in an interview in Moscow. “The risk is rising in the longer term” that hydrocarbon revenues could ...

Bloomberg HitecVision is emerging as the frontrunner to acquire Exxon Mobil Corp’s oil assets in the UK North Sea, according to people familiar with the matter. The private equity firm is in advanced talks with Exxon about a potential deal, the people said, asking not to be identified discussing confidential information. A sale could fetch around $1 billion for Exxon, ...