Oil & Energy

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Fuel prices in Jordan are “expensive” and do not match the average income of the majority of people, Majali said.
October 21, 2014 - 22:47 GMT
The drop in international oil prices is good news for Jordanians, if it is reflected “fairly” on domestic fuel prices.


Iran is normally among the first members of the oil producers’ group to call for supply cuts to support prices.
04:55 GMT

Iran’s dependence on oil revenue is putting the Islamic Republic’s economy at the mercy of major powers,

October 22, 2014

Sara Akbar, CEO of Kuwait Energy
12:45 GMT
(press release)

Kuwait Energy and their main partner, the Egyptian General Petroleum Corporation,announces that the operated exploration well ASA-1 st3 on the Abu Sennan license, onshore Egypt discovered hydrocarbons in the Abu Roash” E” and Abu Roash “ C” formations.

Mr.Hussain Kazim Manager, Corporate Communications at Emarat
07:26 GMT

Emirates General Petroleum Corporation "Emarat" have lowered diesel prices by 20 fils a liter across all their service stations effective from Wednesday, 22 October 2014.

October 21, 2014

can cover the country’s needs for around 275 years, according to Khaled Shraideh.
22:29 GMT

The Kingdom’s oil shale reserves rank fifth worldwide in terms of quantity.

Christophe de Margerie, chief executive of French oil giant Total, died on Monday in a business jet that collided with a snow plough during takeoff in Russia.
21:12 GMT

With his unique bushy mustache and outspoken manner, De Margerie was one of the most respected figures among the top oil executives in the world

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA
08:53 GMT
(press release)

Since the beginning of this year, Dubai Electricity and Water Authority (DEWA) has completed four 132kV transmission substations in Dubai and extended 32km of ground cables at a total cost of AED 529 million.

October 20, 2014

 North America's shale boom has started to squeeze Saudi oil out of the US market,
23:21 GMT

Saudi crude exports fell in August for the fourth month in a row to their lowest levels in three years.

Dr. Rahma bin Mohamed Al Shamsi, Retail Sales Director at Emarat
07:26 GMT

Emirates General Petroleum Corporation "Emarat" seeks, through its participation in the Franchising Middle East 2014 Exhibition, which will be held on 21 and 22 of October 2104 at the Jumeirah Beach Hotel.

During the event
05:26 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) has launched its dedicated Partnership Portal at its Sustainable Building in Al Qouz.

The two governments signed the neutral zone agreement almost 50 years ago.
04:55 GMT

A Kuwaiti oil trade union on Sunday condemned the unilateral closure by Saudi Arabia of an offshore oilfield jointly operated by the Arab neighbours

October 19, 2014

On receipt of the funds from refiners, the RBI would buy dollars from authorized dealers.
13:01 GMT

Indian refiners together owe about $6 billion to Iran.

Kuwait has boasted a budget surplus in each of the past 15 fiscal years, helping to increase its sovereign wealth fund to more than $500 billion, according to unofficial estimates.
04:55 GMT

Oil-rich Kuwait tripled the prices of diesel and kerosene on Wednesday, ending decades of heavy subsidies, while putting off a similar decision on electricity and water charges.

October 16, 2014

"Nevertheless, further oil price drops would likely be needed for supply to take a hit — or for demand growth to get a lift," the agency said in its October report.
04:55 GMT

The IEA again cut its forecasts for growth of global oil demand for the third month in a row.

October 15, 2014

Phase 3 will include an additional 24 new gates attached to the terminal (Image: Aasarchitecture)
09:15 GMT

Qatar is due to enter phase 3 of the newly opened $15.5-billion Hamad international airport with plans to accommodate over 50 million passengers by 2020.

October 14, 2014

09:14 GMT

Oilwell7.com has launched its new initiative to target all job seekers in Saudi market regardless of their years of experience especially after more than 5 years of prosperity in Saudi graduates employment from Saudi universities and scholarship countries.