Bahrain’s oil minister vows to ensure market stability through joint OPEC+ efforts

The oil minister said the 2016 Declaration of Cooperation between OPEC members and the 10 non-OPEC oil-producing countries, to which Bahrain is a signatory, underpins the stability of the global oil market.
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Updated 23 August 2022
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Bahrain’s oil minister vows to ensure market stability through joint OPEC+ efforts

RIYADH: Bahrain’s Minister of Oil and Environment and Special Envoy for Climate Affairs Mohamed bin Mubarak bin Daina on Tuesday said that OPEC+ partners will continue to work together to manage global oil prices through production adjustment.

In a statement, he stressed that market stability is essential for managing global oil and energy supplies to avoid space capacity price volatility.

The oil minister said the 2016 Declaration of Cooperation between OPEC members and the 10 non-OPEC oil-producing countries, to which Bahrain is a signatory, underpins the stability of the global oil market. 

He affirmed Bahrain’s commitment to ensuring oil market stability through continuous cooperation with oil-producing countries. He stated Manama looks forward to participating in the upcoming ministerial meetings to reach a consensus on addressing challenges and unifying oil production policies.


India seals $3bn LNG agreement with UAE

Updated 19 January 2026
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India seals $3bn LNG agreement with UAE

  • Leaders hold talks to strengthen trade, defense ties

NEW DELHI, DUBAI: India signed a $3 billion deal on Monday to buy liquefied natural gas from the UAE, making it the Gulf country’s top customer, as the leaders of both countries held talks to strengthen trade and defense ties.

The agreement was signed during a very brief two-hour visit to ‌India by UAE ‌President Sheikh Mohammed bin Zayed Al-Nahyan for talks with Indian ‌Prime Minister Narendra Modi. 

They pledged to double bilateral trade to $200 billion in six years and form a strategic defense partnership.

Abu Dhabi state firm ADNOC Gas will supply 0.5 million tonnes of LNG a year to India’s Hindustan Petroleum Corp. for 10 years, the companies said.

ADNOC Gas said the agreement brings the total value of its contracts with India to over $20 billion.

“India is now the UAE’s largest customer and a ‌very important part of ADNOC Gas’ LNG strategy,” ‍the company said.

The UAE is ‍India’s third largest trading partner and Sheikh Mohammed was accompanied ‍by a government delegation that included his defense and foreign ministers. The two sides signed a letter of intent to work toward forming a strategic defense partnership, India’s Foreign Secretary Vikram Misri told reporters.

Misri, however, said that the signing of the letter of intent with the UAE does not mean that India will get involved in regional conflicts.

“Our involvement on the defense and security front with a country from the region does not necessarily lead to the conclusion that we will get involved in ‌particular ways in the conflicts of the region,” he said.