The global oil market glut is helping India’s biggest crude processor become nimble, reports Bloomberg.
Saudi Aramco is seeking to boost its fuel-trading volume by more than a third as the world’s biggest crude exporter expands its capacity to refine oil to grab a bigger share of growing markets in Asia and Africa, reports Bloomberg.
ACWA Power International will bid to build a solar energy project in Saudi Arabia, part of the kingdom’s $50 billion push to temper domestic oil use, according to Bloomberg.
While Etihad Airways PJSC let Alitalia SpA slide into bankruptcy after workers spurned a restructuring plan, the Persian Gulf carrier is showing more patience with its other ailing European asset, according to Bloomberg.
Abu Dhabi National Energy Co., the government-run company known as Taqa, is generating cash from overseas oil and natural gas operations and wants to sell some higher-cost wells in North America after reporting a record $5.2 billion loss last year, reports Bloomberg.
U.S. airlines stand to benefit from flight cutbacks by Dubai-based Emirates, which blamed President Donald Trump’s travel restrictions for weakening demand from Middle Eastern passengers, reports Bloomberg.
Dubai’s government-owned utility completed a 200-megawatt power plant one month ahead of schedule as part of a plan to build the world’s largest solar energy park by 2030, according to Bloomberg
Emirates President Tim Clark said he’s braced for a “gathering storm” as low-cost airlines encroach on the inter-continental routes around which the world’s biggest international carrier has built its business, reports Bloomberg.
Tesla Inc. is expanding to the United Arab Emirates, making a move to sell its pricey electric cars in one of the world’s largest oil-producing nations, according to Bloomberg.
Emirates will begin a new daily route linking Dubai and the New York area via Athens, adding fuel to a dispute with U.S. airlines over whether Persian Gulf carriers are unfairly flooding the skies with flights to the world’s largest aviation market, according to Bloomberg.