Oil & Energy

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Oil prices have been falling – and plummeting, spiraling, nose-diving and just generally heading downwards – over the past few months.
December 17, 2014 - 04:55 GMT
Here is a look at three of the Middle East’s most affected economies – some of which are already on the brink of a serious crisis.

August 31, 2014

The wind farm will save up to $475,000 annually in the tiny islands (File/AFP)
09:58 GMT

One of the UAE's biggest clean energy companies, Masdar, has developed Samoa's first wind farm on the island of Upolu.

Located on the Samoan island of Upolu – home to nearly 75 percent of the population – the wind farm will supply 1,500 MWh of power per year.
04:55 GMT
(press release)

Grant financing from UAE-Pacific Partnership Fund

August 28, 2014

The Kingdom’s annual rate of energy consumption exceeded 5 percent while the economic growth rate reached 4 percent
07:13 GMT

Although the Kingdom has the largest oil reserves in the world and occupies the fifth place in terms of natural gas reserves, yet according to a report by oil specialist the Kingdom faces many challenges as a result of a number of different factors, including its need to meet the requirements of development.

MPs criticised the government approach in dealing with several large-scale investments in renewable energy
06:19 GMT

The Lower House on Wednesday referred the draft renewable energy law to its Energy Committee giving it urgency status, after dozens of MPs took part in the “first reading” of the bill.

August 26, 2014

Adnoc will take over 75 service stations in agreement with Emirates General Petroleum Corporation (Image: Znews)
11:42 GMT

Abu Dhabi's Adnoc Distribution has bought 34 Emarat service stations and a fuel depot in Sharjah.

Samsung Galaxy Gear 2 watches
08:37 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) has added a bill-payment feature to its smart app on Samsung Galaxy Gear 2 watches, shortly after launching the app in the Galaxy Gear Manager.

Oman uses two different contracts to sell its crude
06:58 GMT

Oman's crude oil exports to China have continued to soar amid the economic giant’s rising demand for energy and its increasing reliance on Middle Eastern oil supplies.

August 25, 2014

The tour also included a discussion of Masdar City’s role in advancing renewable energy adoption globally
06:23 GMT

The UAE and India are expected to enhance their co-operation in the field of renewable energy and sustainability.

August 24, 2014

The KRG has repeatedly declined to identify buyers of its oil or say who is helping to coordinate the sales.
12:24 GMT

In June, a tanker carrying 1 million barrels of Kurdish oil sailed from Ceyhan that was delivered into Israel's Ashkelon port after first being transferred at sea to another vessel.

OCTAL PET Complex - Salalah
10:49 GMT
(press release)

OCTAL has taken another significant step towards its goal of increasing visibility and sustainability within the PET packaging industry through its recent membership in North America’s National Association for PET Container Resources.

Baghdad has tried to block the KRG from exporting oil on its own, citing a constitutional clause making the central government responsible for oil shipments and revenues.
04:55 GMT

“The Kurds are becoming more confident of their ability to export crude independently of Baghdad.”

August 21, 2014

The ministry cancelled the projects due to the grid’s constraints at present and inability to absorb more loads, Hamed said in a phone interview this week.
14:34 GMT

The ministry cancelled the projects after failing to secure funds from Arab Gulf states to finance the expansion of the national grid’s capacity.

August 20, 2014

 Libya's return to the market has hit oil prices, which slumped to a four-month low in London on Monday before recovering in Asian trade on Tuesday.
20:41 GMT

Libya may be on the brink of chaos but it is gradually boosting output in the vital oil sector after a crisis blocked export terminals for a year.

The deficit for fuel supplied to stations this month increased to approximately 8m cubic metres of gas and equivalent daily compared to 7m last month.
13:45 GMT

Electricity deficit increases to approximately 6,180MW, no solution in sight

August 18, 2014

Qatargas and CNOOC have an existing sales agreement signed in 2008 to supply a total of 2 million tonnes per annum (MTA) of LNG.
00:56 GMT

Qatargas is the world's largest LNG producing company with a production capacity of 42 MTA.