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Saudis push for recovery with lowest output
The Kingdom reported that it reduced output by 717,600 barrels per day (bpd) last month to 9.748mn bpd, according to a monthly report from OPEC released this week. Under the agreement, Saudi Arabia pledged to cut output to 10.058mn bpd.
LNG sector to get impetus from global demand
Number of global and regional drivers for future LNG development, such as energy efficiency and environmental policy changes, which are expected to lead to the decarbonisation of several sectors including the shipping and transportation industries
KSA likely to raise March crude prices to Asia
The March official selling price (OSP) for flagship Arab Light could rise by 10-30 cents a barrel from the previous month
UAE exports over 26mn barrels of crude to Japan
UAE’s share accounted for 23.3% of Japan’s total crude imports
Kufpec buys Thailand gas field stake from Shell
The move is the latest stage of the Anglo-Dutch company’s push to reduce debt after buying smaller rival BG Group for $70bn, bringing its total divestments since April 2015 to 8.7bn
KOC declares state of emergency over oil leak
A statement by the Kuwait Oil Company did not identify the onshore field affected by the leak, which began earlier in the week
OPEC committee agrees on measures to monitor cuts
They further agreed on a number of stipulations, such as a production data report to be presented at the OPEC secretariat in Vienna each month and the issuance of a monthly press release on the progress of the implementation of the production adjustment.
GCC millennials deem climate change as real threat
Seventy seven percent of the of millennials aged from 18 to 29 residing in the GCC believes that a commitment to green growth and the implementation of measures to reduce greenhouse gases will improve the economic and job situations in the GCC.
Nogaholding approaches banks for bond programme
Since Nogaholding’s latest US dollar fund-raising exercise was an Islamic loan, a sukuk programme seemed more likely