Oil & Energy

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For now, however, the US-led surge in supply and weak demand have seen traders start to store additional barrels as they wait for prices to recover.
September 14, 2014 - 04:55 GMT
The drop in oil prices to their lowest in two years has caught many observers off guard, coming against a backdrop of the worst violence in Iraq this decade, heightened tensions between the West and Russia, and sanctions against Iran.

April 22, 2014

Meanwhile, in March, Dimian described the energy subsidies system as “high and unreasonable”, adding that it would not continue “in the current form”
03:55 GMT

Mehleb pointed out that the government would not suspend its commodities and services subsidies; instead it is working on “redistributing and offering it to those who deserve help”.

April 21, 2014

“At the forefront of these projects came the multi-billion dollar clean fuel project, the new Al Zour refinery, the fifth natural gas plant and the construction of new liquefied natural gas import facilities,”
22:38 GMT

The new multi-billion dollar Al Zour refinery will be one of the largest oil refining plants worldwide.

Saudi Arabia plans to invest $109 billion to produce 41 gigawatts (GW) of solar energy by 2032, which is almost 30 percent of its total energy requirement by that time
20:53 GMT

These initiatives aims to boost the Kingdom’s potential for becoming the largest producer of solar energy in the world

 
By holding 157 billion barrels of recoverable crude oil reserves, Iran possesses the world’s fourth largest reserves of crude oil.
03:55 GMT

On April 12, Iranian MP Ali Marvi quoted Oil Minister Bijan Namdar Zanganeh as saying that Iran will increase its crude oil output to 5.7 million barrels per day by the end of Iranian calendar year 1397 (March 2019).

April 20, 2014

Despite world forecast revisions, oil production in OPEC countries is on the rise due to Iraqi output (File Archive/Shutterstock)
10:00 GMT

The International Energy Agency revised its forecast for global oil demand in 2014 to 1.5 per cent which may impact further developments and investment in the sector in consequence.

Libya plans to limit the costly subsidies its citizens enjoy when buying fuel – much of which is smuggled into Tunisia for resale at higher prices – by introducing a “smart card” system like one newly implemented in neighboring Egypt.
01:10 GMT

Fuel smuggling is common across North Africa and its extent has increased in the chaotic aftermath of the Arab Spring.

April 17, 2014

Iran shares oil and gas fields with most of its neighbors, including Iraq, Kuwait, Qatar, as well as Oman and Turkmenistan.
22:53 GMT

Iran shares oil and gas fields with most of its neighbors, including Iraq, Kuwait, Qatar, as well as Oman and Turkmenistan.

Dr. Ibrahim Elfadel, Head of iMicro
09:23 GMT
(press release)

Masdar Institute announced that its Institute Center for Microsystems (iMicro) will be gathering top delegates from the major global semiconductor industry leaders for an Open House in Abu Dhabi.

April 16, 2014

A jury panel was appointed to evaluate the submitted projects on the basis of quality, innovation, need and feasibility, ability to improve organizational performance, reputation and positive image
13:03 GMT
(press release)

ADNOC Distribution today honored the winners of its internal health, safety and environment initiatives for 2013.

his is one of many ‘In-Country Value’ initiatives that omanoil is embarking on to encourage entrepreneurship amongst the youth and support the socio-economic development of the nation
07:47 GMT
(press release)

Oman Oil Marketing Company (omanoil) has created a unique business proposition for local Small and Medium Enterprises (SMEs) to operate its Car Care Centers across the Sultanate.

Renewed exports will restore much-needed revenue stream for Libya's weak central government following the 2011 overthrow of Moamer Kadhafi.
03:04 GMT

Libya prepared to resume oil exports Tuesday following a break of more than eight months, after autonomy-seeking rebels agreed to lift their blockade of ports in the country's east.

April 15, 2014

Dubai Metro users only have to spend AED 15 at the ZOOM convenience stores on the network to get a raffle coupon to win the lucky prize. They will receive two raffle coupons upon spending only AED 20
12:35 GMT
(press release)

Lucky customers of ZOOM convenience stores operated by ENOC Retail on the Dubai Metro network now stand to win a daily prize of free commuting on the world’s largest driverless metro network for a year.

Current desalination techniques are typically very energy intensive: energy consumption can account for up to 70 per cent of the desalination costs
12:26 GMT
(press release)

GE ecomagination and Aramco launched an open global technology challenge to accelerate the development of solutions focused on improving energy efficiency of seawater desalination.

Big move: Oman government and BP in a joint collaboration (FIle/AFP)
11:14 GMT

Oman's government and BP signed a contract to develop the Khazzan gas field of Block 61 and will be completed by 2017.

Oil prices received an additional boost following delays in resuming oil exports from Libya.
03:55 GMT

Crude oil futures rose to the highest level in five weeks on Monday as heightened tensions over unrest in eastern Ukraine fuelled concerns over potential supply disruptions.