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.

November 23, 2014

Total cost would be between $1.5-$2 billion, the company said, and supplies to Egypt would start flowing in 2017
04:55 GMT

Israel's offshore Tamar gas field may get a $1.5-$2 billion upgrade, including the construction of an underwater pipeline to an export plant in Egypt.

November 19, 2014

Dr. Rahma bin Mohammed Al Shamsi and Abdulraoof Abdul Aziz with the honorees staff
10:16 GMT

Dr. Rahma bin Mohammed Al Shamsi, Retail Sales Director at Emirates General Petroleum Corporation “Emarat”, honored two employees at Shamil Vehicles Testing and Registration Services.

November 18, 2014

Elsalamawy said that he was unable to confirm the figures but stated that “Solar energy does not constitute a significant portion of the energy in Egypt”.
18:47 GMT

Egyptian electricity production generated from solar energy dropped by 48% in 2012/13 compared to the year 2011/12.

China will double its investment in Iran's energy projects, an Iranian official said Sunday.
17:58 GMT

Faced with tough international financial penalties, Iran has turned in recent years to China, Russia and Turkey to finance major projects.

November 17, 2014

The 12-nation OPEC group, including the world's biggest crude producer Saudi Arabia, will meet on November 27 in Vienna
22:32 GMT

He said he expected OPEC members to stick with the current output ceiling.

Zanganeh visited Qatar and Kuwait last week, ahead of the meeting, in a bid to win support for action to stabilise oil markets.
04:55 GMT

Iran’s oil minister accused some countries on Sunday of making up excuses to justify their refusal to stabilise prices by cutting output.

November 16, 2014

Burhan Al Hashemi, Managing Director – ENOC Retail, and Taleb Al Saleh, Director – ENOC Retail Operations & Marketing, receive the ‘Most Admired Retailer of the Year – Food & Grocery’ honour for ZOOM at the Retail Middle East Awards 2014
11:12 GMT
(press release)

ZOOM, the convenience store concept owned and operated by ENOC Retail, has won the ‘Most Admired Retailer of the Year – Food & Grocery’ honour at the Retail Middle East Awards 2014.

Jordan Phosphate Mines Company was founded in 1949. (File)
08:17 GMT

Jordan Phosphate Mines Company profits rose by 217.3 percent in the first nine months of 2014 due to maximized operations.

Mr.Hussain Kazim, Senior Manager Corporate Communications at Emarat
07:33 GMT

Emarat’s pavilion at the Abu Dhabi Petroleum Exhibition and Conference (ADIPEC) this year witnessed significant interest from a wide range of visitors.

November 14, 2014

Kuwait plans more than $40 billion of investment to significantly increase its capacity to produce oil and gas
00:39 GMT

The Gulf nation aims to raise the amount of crude oil it can pump by one-quarter, to 4.0 million barrels per day, by 2020.

November 13, 2014

Iran has said the steep fall in oil prices this year is the result of deliberate moves by some exporters who have kept production high to undermine Tehran’s sanctions-hit economy.
18:55 GMT

Zangeneh made a similar plea with the emir of Qatar, Sheikh Tamim bin Hamad al-Thani, during his stopover in Doha on Monday.

Oil in October fell below $83 a barrel and on Tuesday reached $80.46, its lowest since 2010.
04:55 GMT

Global demand for oil from Opec next year will be far below its current output level because of the US shale boom,

November 12, 2014

During the event
10:00 GMT
(press release)

EQUATE Petrochemical Company, Kuwait’s first international petrochemical joint-venture, received BGreen’s Lifetime Achievement Award 2014 for sustainability related achievements.

The initial start-up project is scheduled to be achieved by Q4 2018. (Image: Komec)
08:39 GMT

Abu Dhabi Marine Operating Company signed three big-scale contracts worth an estimated $3 billion for the widely anticipated Nasr Full Field Development Project.

04:55 GMT

The Islamic State of Iraq and the Levant (ISIL) may have smuggled oil into Turkey with donkeys carrying it across the border.