Oil & Energy

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Of 2,000 Israeli factories that could switch to natural gas and reduce their production costs, only eight are currently connected to the natural gas supply.
Bureaucratic wrangling and ever changing regulations are frustrating what could be Israel's natural gas revolution.

November 13, 2014

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.

November 11, 2014

Kuwait has no plans to cut its own crude production, which should increase to 4 million barrels from a current by 2020,
19:20 GMT

OPEC, which supplies about 40 percent of the world’s oil, meets Nov. 27 to debate supply.

"We need to put policy on it. We need to put an order to it so we can do something regarding consumption."
14:01 GMT

"You need to do something about subsidies. Maybe a producing country can turn into a consumer country," Sabt said on the sidelines of an energy conference in Abu Dhabi.

“The Shah Gas Project is on track to commence production in 2014."
13:29 GMT

Adnoc, has so far invested $70 billion to develop new oil and gas fields and to boost the current output capacity of the UAE to 3.5 million barrels per day by 2017.

Markets should not panic over the recent plunge of oil prices because the situation will resolve itself,
02:01 GMT

"Please do not panic, things will fix itself," Al-Badri said during a panel discussion at a major energy industry conference in Abu Dhabi.

November 10, 2014

Iran’s relations with the West have thawed since relative moderate Hassan Rouhani was elected president last year seeking to end Iran’s international isolation.
00:47 GMT

With only two weeks to a deadline for a breakthrough deal, senior envoys of Iran, the United States and European Union met in Oman on Sunday.

November 9, 2014

 S&P said that Oman and Bahrain were the most vulnerable to any drop in oil prices while Qatar and the UAE were the least vulnerable.
23:53 GMT

Dubai will remain insulated from the effects of an oil price slide as it is well diversified, while economic growth across the rest of the GCC could be affected.

ENOC Challenge
08:29 GMT
(press release)

Emirates National Oil Company (ENOC) is setting a milestone in its Corporate Social Responsibility (CSR) initiatives with the launch of the tenth edition of the ‘ENOC Challenge’.

According to various estimates, IS receives $1 million to $3 million from illegal transactions of Iraqi oil every day.
05:55 GMT

The Iraqi economy is losing as much as $1.2 billion a month because of the shutdown of the oil pipeline connecting the Iraqi city of Kirkuk with the Turkish city of Ceyhan.

November 6, 2014

The predictions are based on global economic output rising 160 per cent by 2040 compared to 2013 by purchasing power parity.
18:23 GMT

Projections also emphasise the continued leading role of the Middle East in international crude oil trade.

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA
08:37 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) has started work on a project to increase the efficiency and reliability of water transmission networks in different parts of Dubai.

Mr. Hussain Kazim Senior Manager, Corporate Communications at Emarat
05:07 GMT

Emirates General Petroleum Corporation "Emarat" decided to boost its participation at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2014.