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#AbuDhabi Plans $122 Billion in Oil Spending to Boost Output - Bloomberg

Abu Dhabi Plans $122 Billion in Oil Spending to Boost Output - Bloomberg Abu Dhabi will invest 448 billion dirhams ($122 billion) in oil and natural gas over the next five years as it seeks to raise production capacity, even while OPEC restricts its output.The Gulf emirate’s top body for energy policy, the Supreme Petroleum Council, approved the budget for Abu Dhabi National Oil Co., the state-run WAM news agency reported on Sunday. The investment plan will contribute to growth and expansion “in...
Tags: Travel, Wam, Opec, Bloomberg, United Arab Emirates, Abu Dhabi, Uae, Gulf, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Supreme Petroleum Council, Bloomberg Abu Dhabi


Energy News, KPC: #Kuwait Petroleum Merges Subsidiaries to Slash Capital Spending - Bloomberg

Energy News, KPC: Kuwait Petroleum Merges Subsidiaries to Slash Capital Spending - Bloomberg:Kuwait Petroleum Corp. is hiring a consultant to help merge its subsidiaries as the state-run company slashes capital spending by more than 25% over the next five years.KPC will combine its eight business units into four to streamline operations, according to a person familiar with the matter. To make the change as smooth as possible, it plans to sign with a consultant next month, the person said, asking...
Tags: Travel, Opec, Kuwait, KPC, Rupert Neil Bumfrey, Petroleum Corp, Supreme Petroleum Council, Energy News KPC, Kuwait Petroleum Merges Subsidiaries, Slash Capital Spending Bloomberg, Kuwait Foreign Petroleum Exploration Co


UAE says it has world’s sixth-largest crude oil reserves

DUBAI, United Arab Emirates (AP) — The United Arab Emirates now says it is home to the world’s sixth-largest crude oil reserves, surpassing fellow Gulf Arab nation Kuwait. The UAE’s Supreme Petroleum Council met on Monday and announced the news, saying the federation of seven sheikhdoms on the Arabian Peninsula had discovered new reserves of […]
Tags: Business, News, Ap, Nation, United Arab Emirates, Kuwait, Uae, Arabian Peninsula, DUBAI United Arab Emirates, Gulf Arab, Supreme Petroleum Council


#Kuwait Petroleum Said to Reassess $500 Billion Spending Plan - Bloomberg

Kuwait Petroleum Said to Reassess $500 Billion Spending Plan - Bloomberg:Kuwait Petroleum Corp. is reassessing plans to spend about $500 billion in capital investment and may decide this year to combine its eight business units into four to streamline the company, according to a person familiar with the matter.Lower oil prices, Kuwait’s reduced output under a deal by OPEC to pump less crude, and a reevaluation of how best to spend the money have prompted the review, the person said, asking not t...
Tags: Travel, Opec, Kuwait, KPC, Rupert Neil Bumfrey, Kuwait Petroleum Corp, Supreme Petroleum Council, Kuwait Petroleum Said, Kuwait Integrated Petroleum Industries Co


Qatar, Abu Dhabi Extend Deal for Shared Oil Field Despite Feud - Bloomberg

:"Qatar Petroleum and the Abu Dhabi Supreme Petroleum Council agreed to extend a concession for a Japanese-operated oil field they share in the Persian Gulf, in a rare display of cooperation amid the political standoff between their two countries.QP announced the agreement in a statement on its website, without disclosing terms. United Petroleum Development Co., in which Cosmo Energy Holdings Co. and JX Nippon Oil & Gas Exploration Corp. both hold stakes, owns the business that has operated the ...
Tags: Travel, Wam, Qatar, Bloomberg, Abu Dhabi, Persian Gulf, Rupert Neil Bumfrey, Qatar Petroleum, Supreme Petroleum Council, Abu Dhabi Supreme Petroleum Council, Al Bunduq, United Petroleum Development Co, Cosmo Energy Holdings Co, JX Nippon Oil Gas Exploration Corp


No concession awarded to Qatar Petroleum: UAE official | ZAWYA MENA Edition

No concession awarded to Qatar Petroleum: UAE official | ZAWYA MENA Edition:"An official source at the Supreme Petroleum Council has said that no concession was awarded to Qatar Petroleum.In a statement, the source said, "The Bunduq field, due to its geographical location, is shared between the Emirate of Abu Dhabi and Qatar. It has been operated via a concession with a Japanese consortium for over four decades. This concession was recently extended by each respective government to the Japanese ...
Tags: Travel, Qatar, Abu Dhabi, Uae, Rupert Neil Bumfrey, Supreme Petroleum Council, Bunduq


Abu Dhabi Oil Producer May Invest in First Overseas Refineries - Bloomberg

Abu Dhabi Oil Producer May Invest in First Overseas Refineries - Bloomberg:"Abu Dhabi’s state oil producer may build or buy into refining and petrochemical businesses outside the United Arab Emirates, making its first international investments as it seeks to strengthen ties with customers for its crude. Abu Dhabi National Oil Co. plans capital spending of 400 billion dirhams ($109 billion) over the next five years, Abu Dhabi Crown Prince Mohamed bin Zayed Al Nahyan said Monday on Twitter. Some o...
Tags: Travel, United Arab Emirates, Abu Dhabi, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Mohamed bin Zayed Al Nahyan, Supreme Petroleum Council