Jennifer Gnana

The field was the first such discovery in Sharjah in nearly 37 years

The Chinese firm will pay for a full year's worth of crude prior to loading shipments

The group may add 'another 500,000 bpd' in February, analysts say

Awards cover exploration along the eastern and western Mediterranean as well as the Red Sea

Crude inventories in the US fell 4.79 million barrels last week – the largest withdrawal since October

Funds will tackle food insecurity, Covid-19 and education

Industry investors are planning deployment of at least 25GW of electrolyser capacity for green hydrogen by 2026

Adnoc's long-term issuer default rating was assessed at AA, with a stable outlook

Vaccine programmes, supply cuts and tight oil and gas budgets are likely to reduce market volatility

Tehran is making necessary preparations to export within three months

The company plans to spend Dh448bn over the next five years, of which more than a third will be directed into the UAE's economy

A second half-year recovery was largely due to China's 'fast rebound' from its earlier lockdown

Global demand for 2021 is estimated to increase by 5.9 million bpd due to slowdown in the transportation sector

The benchmarks moved higher after an attack on a Singapore-flagged vessel off the western coast of Saudi Arabia

The report recommended prioritising green fiscal recovery including direct support for zero-emissions technologies and infrastructure