Oil & Energy

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Jordan is the third largest recipient of remittances in the Middle East and North Africa (MENA) from Gulf states, according to World Bank report.
As a net oil importer, Jordan’s widening trade deficit in the first nine months of 2014 was anticipated to decelerate in the last quarter of the year on account of lower oil prices.

November 9, 2014

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.

US light crude was down $2.00 at $76.78 a barrel. It touched a session low of $75.84, its weakest since October 2011.
04:55 GMT

Brent crude oil fell more than 3 percent to its lowest in more than four years near $82 a barrel on Tuesday.

November 5, 2014

“The budget of the Kingdom of Saudi Arabia depends 90 per cent on oil … I’ve already said that this is a huge mistake,” said the prince.
21:09 GMT

Prince Alwaleed publicly urged the government last month to do more to protect the economy of the world’s top oil exporter from the slide.

Engineer Ibrahim Yacoob Al Tamimi with the delegation in the presence of Abdulrahman Qasim Al Ali and Engineer Mohamed Ibrahim Ahmed
08:40 GMT

Engineer Ibrahim Yacoob Al Tamimi, Operations & Logistics Director at Emirates General Petroleum Corporation “Emarat”, held a meeting at Emarat's headquarters in Dubai.

November 4, 2014

Kufpec Chief Executive Officer Nawaf Saud Al-Nasir said in a statement Saturday the deal came “as a result of the recently enacted energy reform in Mexico.
17:08 GMT

A Kuwaiti exploration company said it signed a memorandum of understanding to work alongside its counterparts in the Mexican energy sector.

During the event
10:10 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) has endorsed the 3rd Annual Global Independent Water and Power Plants (IWPP) Summit, organised by Fleming Gulf Conferences at Habtoor Grand Beach and Resort hotel, Dubai.

During the event
08:47 GMT
(press release)

Emirates National Oil Company (ENOC) has expanded the geographic reach of its ZOOM convenience store with the opening of the first stand-alone outlet in Abu Dhabi in the Ministry of Interior compound.

06:16 GMT
(press release)

ADNOC Distribution has reduced the price of diesel across all its service stations in the Northern Emirates, including Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah.

Separate data published on Monday showed that activity in the eurozone's manufacturing sector nudged higher in October as businesses cut prices.
05:55 GMT

Oil prices fell Monday, hit by a strengthening dollar as dealers digested global manufacturing data for clues about demand growth.

November 3, 2014

During the event
10:43 GMT
(press release)

Emirates National Oil Company (ENOC) and its subsidiaries today marked the UAE Flag Day by hoisting the National Flag at the company’s headquarters in Dubai.

Adel Khalifa Al Shaer raising the UAE’s Flag at Emarat Head Office in the presence of officials and employees
09:03 GMT

Emirates General Petroleum Corporation “Emarat” raised the flag of the United Arab Emirates over its headquarters in Dubai.