Labworx

The Secretary General of the Organisation of Oil Exporting Countries + (OPEC+) has indicated that the alliance is fully prepared to take all necessary actions to ensure that oil prices do not plummet steeply once more. Every industry has been affected by the coronavirus pandemic to some extent, but with energy demand slumping, the fossil fuels sector has been harder hit than most.

However, M...

The UAE has opened talks with Israel over the use of a pipeline in the latter region, the operations of which remain classified. The Eilat-Ashkelon pipeline originates on the Gulf of Aqaba on the Red Sea and terminates at Ashkelon on the Mediterranean Sea, thus making it an ideal route for oil from Asia to Europe.

Although it is early days in the discussions, the accord could represent a hug...

Global oil demand will likely peak around 2030, according to a leading expert in the industry from the UAE. Musabbeh Al Kaabi is the CEO of Petroleum and Resources at the Mubadala Investment Company, headquartered in Abu Dhabi. He delivered his views as part of an online series of interviews with prominent figures from the sector.

According to Al Kaabi, the oil market will recover from the c...

The UAE has become the first Arab country to open a nuclear power plant this month with the unveiling of its 5,600GW Barakah facility near Ruwais. The project is the latest attempt by the Emirati government to diversify its energy and their economic portfolios and transform its oil companies into broader energy firms, thus reducing the country’s over-reliance on fossil fuels and transitioning t...

While it might be one of the most resource-rich and economically wealthy parts of the planet, the Middle East is sorely lacking in one vital commodity – water. Home to some 400 million people and a climate not conducive to frequent rainfall, the region relies on unconventional sources of drinking water, such as treated wastewater and, in particular, desalination.

As the global population swe...

The oil and gas industry has taken something of a pummelling over recent months. With lockdown measures in place across much of the globe to limit the spread of coronavirus, demand for energy fell sharply, as industries and businesses all but shut down and far fewer passenger vehicles took to the streets.

Now, with the world beginning to emerge from the height of the coronavirus crisis and t...

The Abu Dhabi National Oil Company – or ADNOC for short – has announced a landmark $20.7 billion deal with six international companies for a minority stake in its domestic pipeline infrastructure. The deal was made with a consortium of the world’s foremost sovereign wealth funds and infrastructure specialists and is expected to yield attractive advantages for all involved parties.

On the one...

The Middle East, one of the world’s greatest oil producing regions, is facing a shortage crisis of unprecedented proportions. That’s because the prolonged lockdown measures being enforced across the globe to combat the spread of coronavirus have led to a sharp drop-off in demand, meaning that there is so much surplus crude on the market that traders are struggling for places to store it.

Ind...

e Organisation of Petroleum Exporting Countries (OPEC) and its partners finally came to an historic agreement to slash oil production outputs by an unprecedented amount last month. The accord followed a lengthy stand-off between OPEC and nations such as Russia, who shared differing opinions on how best to control the slump in oil prices exacerbated by the spread of coronavirus.

Although the ...

The UAE and Japan have signed an energy cooperation deal, which will allow the state oil company of the Emirates (Abu Dhabi National Oil Company, or ADNOC) to store significant amounts of the substance in Japanese storage facilities. In return, Japan will have first refusal on certain amounts of oil in the event that the country experiences shortages of its own.

The deal was signed by Dr Sul...