Oil & Energy

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Also with the new King continuing to back the veteran Oil Minister Ali Al-Naimi, any possibility of Naimi finally hanging his boots also disappeared
January 25, 2015 - 13:12 GMT
The passing of King Abdullah in the early hours of Friday led to speculation that a leadership transition could result in a change to the country’s oil policy and strategy.

January 27, 2015

"Maybe we will go to $200 if there is a real shortage of supply because of the lack of investment," OPEC's secretary general added.
15:05 GMT

Oil's decline in 2014 was its second-biggest ever, after the collapse in 2008 which followed the record high.

Khalid Saad, Marketing & Sales Manager of EMGAS
12:30 GMT
(press release)

Emirates National Oil Company (ENOC) and its subsidiary Emirates Gas (EMGAS) co-hosted the first Middle East LP Gas Summit to promote the safe use of Liquefied Petroleum Gas (LPG) in the Middle East.

January 26, 2015

During the event
11:05 GMT
(press release)

EQUATE Petrochemical Company hosted a number of leaders from Kuwait Petroleum Corporation (KPC) & Subsidiaries during the company’s world record breaking Turnaround (TA).

ENOC - EMGAS implements change over in the LPG cylinder valve in UAQ
08:48 GMT
(press release)

Following a decision by the Undersecretary of the Ministry of Interior and in conjunction with the Civil Defence of Umm Al Quwain, domestic gas users in the northern emirate of Umm Al Quwain will have new LPG cylinder valves.

During the event
08:04 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) officially launched the Strategy Pioneers Group in the presence of the Group’s founding partners, at a meeting held at Park Hyatt Dubai.


He said the government is revising its draft budget to assume a base price of $40, from $72 a barrel.
04:55 GMT

Iran’s Government Spokesman Mohammad Baqer Nobakht says the administration can run the country with oil revenues below $40 billion in the next Iranian calendar year.

January 25, 2015

During the event
11:46 GMT
(press release)

DEWA has received students and academics from the Emirates Leadership Initiative, which is one of the most prominent educational programmes to train and prepare young leaders and government officials in the UAE.

January 24, 2015

King Abdullah bin Abdulaziz died early on Friday and his brother Salman became king of the world's top oil exporter.
15:28 GMT

Oil prices rose on Friday after the death of Saudi Arabia's King Abdullah added more uncertainty to an oil market that has more than halved over the last six months.

"What is happening now is Kingdom policy, not just the King's policy," said analyst Yasser Elguindi of Medley Global Advisors
10:59 GMT

Saudi Arabia's new King Salman was quick to keep veteran oil minister Ali al-Naimi on Friday in a message aimed at calming a jittery energy market mindful of Naimi's powerful role.

January 22, 2015

Oil prices are unlikely to fall further after a plunge of nearly 60 percent since June,
17:43 GMT

“Our estimate is that the prices have reached the bottom. It is very difficult to drop lower than this,” Abdul Mahdi told a conference in Kuwait.

During the opening
07:21 GMT

Bakeria, the unique brand name owned by Emirates General Petroleum Corporation “Emarat”, keeps on enhancing its position among competing brand names, with a new venue that was inaugurated recently.

During the event
04:40 GMT
(press release)

Masdar signed a contract with Mauritania’s Ministry of Petroleum, Energy, and Mines, to deliver seven solar photovoltaic (PV) projects, with a total capacity of 12 megawatts, providing access to clean and reliable energy to seven towns across the country.

January 21, 2015

Iraq and Turkey have agreed to build a new natural gas pipeline
21:36 GMT

Iraq and Turkey have agreed to build a new natural gas pipeline, technical analysis on which will commence soon, a report said

The ambition was to save more crude oil for export.
15:00 GMT

Saudi Arabia is delaying by eight years its target of completing a clean-energy program that includes a $109 billion solar power project.

The price of OPEC's basket of twelve crudes stood at US$43.04 a barrel on Tuesday
13:28 GMT

The price of OPEC's basket of twelve crudes stood at US$43.04 a barrel on Tuesday, compared with US$43.87 a barrel the previous day, according to OPEC Secretariat calculations.