Oil & Energy

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Iraqi crude production is climbing from a 35-year high.
January 30, 2015 - 22:18 GMT
“This price war is not just between Saudi Arabia and the U.S., it’s also intra-OPEC,” said Seth Kleinman,

January 26, 2015


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.

Abu Dhabi National Oil Company
12:37 GMT

DaDeDo, a regional creative house and one of the world’s leading independent advertising agencies (as featured in Campaign magazine), has won two projects from the Abu Dhabi National Oil Company for Distribution (ADNOC Distribution).

During the event
12:18 GMT
(press release)

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA has announced today that DEWA is increasing the percentage of renewables in Dubai’s energy mix target to 7% by 2020 and 15% by 2030.

Duke Uni Students at ENOC
07:39 GMT
(press release)

Emirates National Oil Company (ENOC) hosted an international delegation of students and faculty members from Duke University in USA, who visited the company as part of their Executive Programme.

Oil prices have dropped by more than half since June as output has soared while demand growth has slowed.
00:00 GMT

Brent crude oil prices steadied around $49 a barrel on Tuesday after the International Monetary Fund cut its forecast for global economic growth in 2015 implying lower demand for fuel.

January 20, 2015

Total
12:54 GMT
(press release)

Total congratulates the Abu Dhabi Petroleum Institute (PI) solar race team which came second and remained a strong contender till last at the first Abu Dhabi Solar Challenge.