Oil and gas

Moody’s upgrades Oman’s outlook to positive, citing improved debt metrics and strong fiscal management

The agency also retained its (P)Ba1 rating for the Government of Oman’s senior unsecured medium-term note program

UAE oil imports to Japan reach 31.07 million barrels in July 2024, 49.1 percent of total

Arab oil made up 97.8 percent of Japan's imports, totaling 61.92 million barrels

Oil prices drop as OPEC+ production rises, demand weakens

Brent crude futures dropped by 61 cents, or 0.8 percent, settling at $76.32 a barrel

Dubai’s Dragon Oil opens new regional office in Turkmenistan, eyes additional offshore concessions

Dragon Oil seeks to raise its total production in the countries where it operates to 250,000 barrels per day by the end of 2025

Abu Dhabi’s Tabreed achieves carbon verification, reducing emissions by 19,320 tons annually

This follows Tabreed's 2023 initiatives, including the first geothermal-powered district cooling plant with ADNOC

Oil prices steady amid smaller U.S. inventory draw, Libya’s supply concerns

Brent oil futures for October delivery dipped slightly to $78.62 a barrel

Egypt announces new oil discovery in Western Desert with daily yield of 7,165 barrels

The well was drilled to a depth of 270 feet into the Paleozoic sands

Oil prices rise on strong API data, ongoing supply concerns

Brent crude futures set to expire in October rose by 0.5 percent to $79.92 a barrel

UAE’s ADNOC deploys cutting-edge AI system Neuron 5 to boost operational efficiency

The innovative solution autonomously monitors equipment to optimize performance and enable preventive maintenance

Oil prices pause after recent surge amid Middle East tensions, Libyan shutdowns

Brent crude futures declined by 32 cents, or 0.39 percent, to settle at $81.11 per barrel