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Gas compromise offered in Cyprus-Turkey dispute

Turkish Cypriots have proposed to the internationally recognized Greek Cypriot government that they cooperate in the search for gas off the divided island, Turkey said on Saturday, after an escalation of tension in the eastern Mediterranean. Turkey and the Cyprus government have overlapping claims in the waters off Cyprus, linked …

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Masdar pushing renewables in Armenia

Abu Dhabi Future Energy Company, Masdar, is pursuing renewable energy opportunities in the Republic of Armenia, a country with considerable potential for solar and wind energy development. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and David Papazian, Chief Executive Officer of the Armenian National Interests Fund (ANIF), today …

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UAE will host key OPEC meeting in September

The Emirate of Abu Dhabi will host in September the Joint Ministerial Monitoring Committee meeting of the Organisation of Petroleum Exporting Countries, OPEC, the Organisation announced. The announcement was made on Thursday following the release of 2020 oil market forecasts in the OPEC July Monthly Oil Market Report, MOMR. According …

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Emirati Peaceful Nuclear Energy Programme supporting sustainability

H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, highlighted the key role of the “Emirati Peaceful Nuclear Energy Programme” in supporting the country’s economic development and achieving sustainable industrial growth, by providing environmentally-friendly electricity. He also praised the efforts of the Emirates Nuclear Energy Corporation …

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Turkey continues drilling in Cypriot waters

A second Turkish drillship, which is expected to begin drilling for oil and natural gas near Cyprus this week, arrived off the Mediterranean island’s northeastern coast on Monday, Refinitiv Eikon shipping data showed. Last month, European Union leaders warned Turkey to end its gas drilling in disputed waters around the …

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Iran signs onto planned OPEC production cuts

OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude amid a weakening global economy. Iranian Oil Minister …

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Russia extending OPEC-deal with Saudis

Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil production, Russian President Vladimir Putin said. Putin, speaking after talks with Saudi Crown Prince Mohammed bin Salman, told a news conference the deal would be extended in its current form …

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Awareness workshop by UAE energy ministry

The Abu Dhabi Department of Energy (DoE) – the government entity in charge of ensuring the energy sector’s excellence and sustainability in the emirate – held an awareness workshop covering the major initiatives and the newly introduced amendments to the Incident Reporting Regulations. Attended by representatives from 72 entities active …

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Petronas and Saudi Aramco joint venture on track

Pengerang Refining and Petrochemical (PrefChem), a joint venture between Petronas and Saudi Aramco, is expected to restart a crude distillation unit at its oil refinery in Malaysia in July, three sources familiar with the matter said. The Pengerang Refining development, which is part of Petronas’ $27 billion Pengerang Integrated Complex, …

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Chevron to build Qatari petrochemicals complex

Qatar Petroleum has signed an agreement with Chevron Phillips Chemical to build a new petrochemicals complex, part of plans by the world’s top liquefied natural gas (LNG) exporter to broaden its energy interests. The project highlights how Middle East oil producers are expanding further into petrochemicals, used in the production …

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DEWA in talks with Swedes

The Dubai Electricity and Water Authority, DEWA, recently received a Swedish delegation, where they held meetings to expand cooperation and knowledge exchange in the sustainability, water and energy sectors. Saeed Mohammed Al Tayer, DEWA Managing Director and CEO, welcomed the high-level delegation from the Swedish Council for Trade and Investment, …

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Iraqi ExxonMobil $53 billion deal falls through

Just weeks ago, U.S. energy giant ExxonMobil looked poised to move ahead with a $53 billion project to boost Iraq’s oil output at its southern fields, a milestone in the company’s ambitions to expand in the country. But now a combination of contractual wrangling and security concerns, heightened by escalating …

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Oil staff evacuated after missile strike in Iraq

A rocket hit a site in southern Iraq used by foreign oil companies on Wednesday, including U.S. energy giant ExxonMobil, wounding three people and threatening to further escalate U.S.-Iran tensions in the region. There was no immediate claim of responsibility for the attack near Iraq’s southern city of Basra, the …

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Iran and Russia planning OPEC meeting, strategy

Iran’s oil minister is scheduled to meet his Russian counterpart in Iran later on Monday, industry sources said, raising hopes of progress in resolving a month-long impasse over when OPEC and its allies will hold their next policy gathering. The Organization of the Petroleum Exporting Countries and partners including Russia, …

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European members states protesting Turkish gas incursions

Heads of European Union Mediterranean states offered full support on Friday for fellow EU member Cyprus in a dispute with Turkey over the ownership of offshore natural gas deposits. Greek Prime Minister Alexis Tsipras, Portugal’s Prime Minister Antonio Costa, French President Emmanuel Macron, Malta’s Prime Minister Joseph Muscat, Spain’s Prime …

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Khamenei insists Itanian nuclear programme peaceful

Iran has no intention of making or using nuclear weapons, Iranian Supreme Leader Ayatollah Ali Khamenei was quoted as saying on Thursday by Japanese Prime Minister Shinzo Abe. Khamenei’s comment, a reiteration of Iran’s stance, comes at a time of increased U.S.-Iranian tension, a year after Washington abandoned an agreement …

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New wave of tankers hit, in Oman Gulf

Two oil tankers were hit in suspected attacks in the Gulf of Oman, shipping firms and industry sources said on Thursday, sending oil prices as much as 4% higher a month after four other tankers were damaged by limpet mines in the region. One of the tankers, the Front Altair, …

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ENOC wins mega-loan from China

ENOC Group has secured a five-year US$690 million term loan from a Chinese consortium of banks as China’s biggest financial institutions endorse the Group’s operational and financial health. The term loan will finance general corporate purposes as ENOC continues to fuel the local economy through its business divisions in exploration …

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Iran begins enriching uranium, warns IAEA

Iran has followed through on a threat to accelerate its production of enriched uranium, the head of the U.N. atomic watchdog said on Monday, departing from his usual guarded language to say he was worried about increasing tension. The assessment comes at a time of sharply increased U.S.-Iranian confrontation in …

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Empower launches summer cooling campagn

Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, announced the launch of its summer campaign, under the slogan ‘Switch to 24 C and save more’. The campaign runs from June till end of summer. This is part of Empower’s efforts to support sustainability and deliver …

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