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FINANCIAL NEWS
UAE to increase oil output to 3.5m bpd
22 Apr 2013
(MENAFN) UAE Ministry of Energy said that the increase in global demand for oil has led the country to plan an increase in oil output to around 3.5 million barrels per day, reported Emirates 24/7.
The government stated that it will take measures to assure oil security to its customers, such as a new pipeline between Habshan and Fujairah.
The country is looking to lower its local oil consumption by heading towards cleaner alternative energy, making way for increased exports and a more secure world oil market.
It is worth noting that increased demand and growth from South America and Asia has lead to a jump in regional activity in order to meet demand.
More News
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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