Oil & Energy

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For now, however, the US-led surge in supply and weak demand have seen traders start to store additional barrels as they wait for prices to recover.
September 14, 2014 - 04:55 GMT
The drop in oil prices to their lowest in two years has caught many observers off guard, coming against a backdrop of the worst violence in Iraq this decade, heightened tensions between the West and Russia, and sanctions against Iran.

Today

During the event
11:28 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) has organised a Sports Day for its staff in collaboration with Dubai World Trade Centre.

During the event
06:08 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) today held a conference for qualifying international developers who intend to send their proposals for the Hassyan project to produce 1,200 MW of electricity using clean coal.

OOC - Al Mutasim Al Sariri - Head of Corporate Sustainability
05:26 GMT
(press release)

40 Omani female facilities service staff between the age of 26 and 50 became the inaugural graduating class of Sultan Qaboos University’s ‘Basees’ programme.

September 17, 2014

Meanwhile Qatar’s emir also asserted that his country does not finance any terrorist organisations in Syria or Iraq and has never done so
17:02 GMT

German Chancellor Angela Merkel said she expected cooperation with Qatar in the energy sector to grow in the years ahead, saying progress was already being made in the area of liquefied natural gas (LNG)

During the event
10:35 GMT
(press release)

Continuing their partnership in all relevant fields, Kuwait Fire Safety Directorate (KFSD) and EQUATE Petrochemical Company, Kuwait’s first private sector petrochemical company, launched Safety at Every Home Campaign (Safe).

The granting of the Unit Three and Four construction licence followed an intensive 18-month review by about 200 FANR and other technical experts.
04:55 GMT

The UAE has approved the construction of two additional nuclear power reactors at the Barakah site in the Western Region of the Abu Dhabi emirate by the Emirates Nuclear Energy Corporation (Enec)

September 15, 2014

OCTAL - Employee Recognition Awards
12:43 GMT
(press release)

OCTAL, the world’s leading clear rigid food packaging material supplier, recently celebrated the accomplishments of its employees by hosting the company’s Employee Recognition Award Program 2014.

September 11, 2014

Brent crude dropped to a two-year low below $97 a barrel on Thursday, falling for a sixth straight session as worries over mounting supply and weak demand outweighed concerns that conflicts in the Middle East could curb oil production.
14:47 GMT

"The recent slowdown in demand growth is nothing short of remarkable," the International Energy Agency (IEA) said in a monthly report, cutting its oil demand growth projections for 2014 and 2015.

"Importing natural gas from Cyprus is very feasible for Jordan as Cyprus has a very good reserve of natural gas that can contribute to meeting Jordan's needs of gas," he added.
01:01 GMT

"Jordan is keen to diversify its sources of natural gas supply...We held several talks over the past few months with Cyprus and these are very fruitful and encouraging," said Hamed.

September 10, 2014

OPEC also publishes production figures from secondary sources, a legacy of past OPEC disagreements about countries’ reported output figures.
15:39 GMT

In the report, OPEC cut its 2014 global oil demand growth forecast for a third consecutive month and also reduced its assessment of the requirement for its members’ crude oil.

Sara Akbar, CEO of Kuwait Energy
10:14 GMT
(press release)

Kuwait Energy ("the Company") announces that the consortium comprised of Kuwait Energy (70% and operator) and Dragon Oil (30%) has made its first oil discovery at 'Block 9', Iraq.

September 8, 2014

During the event
07:07 GMT
(press release)

OCTAL held its first ‘Annual Safety Week’ to raise awareness on safety in the workplace and encourage all employees to spread the message of safety across all levels of the organization.

September 7, 2014

 The RCF is fully committed, unsecured and is available as a $1 billion three year facility and as an $850 million five year facility.
23:18 GMT

Oman Oil Company S.A.O.C. (OOC), the Sultanate’s energy investment arm, has signed a Revolving Credit Facility (RCF) Agreement worth $1.85 billion with 16 local, regional and international banks.

The recent flare-up of violence in Iraq is past its worst and Kuwait Energy is keen to invest more in the country because of its potential, Chief Executive Sara Akbar said.
04:55 GMT

Several oil companies in Iraq's Kurdistan region withdrew staff last month after Islamic State militants approached Erbil, the region's capital, threatening its vast oil infrastructure.

September 4, 2014

According to a letter of intent signed by the Israeli side, Jordan will buy 45bn cubic metres of natural gas over a period of 15 years.
04:55 GMT

In August 2014 Jordan’s Energy Minister Mohammed Hamid complained that Egypt’s decision to halt its exports of natural gas to Jordan in April had exacerbated the country’s energy crisis.