Oil & Energy

Featured Story:

It's all doom and gloom for the Gulfi dream as the GCC are bracing for tough times with vital oil revenues falling rapidly. (Image: Gulf man expreses grief via Shutterstock)
December 24, 2014 - 10:38 GMT
Gulf countries are bracing for tough times as vital oil revenues fall and after they missed a golden opportunity to diversify their economies in a decade of unprecedented windfalls, analysts say.

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.

“This is urgent: ISIS is now selling its oil, but the Kurds are not allowed to sell their oil,” an unnamed Turkish official told the Financial Times.
00:51 GMT

Turkey has requested that the United States remove barriers regarding the purchase of oil coming from Iraqi Kurdistan

August 17, 2014

Jordan consumes about 500 million cubic feet of natural gas per day for production of electricity, the minister said.
11:02 GMT

Natural gas will be supplied to Jordan through the Arab Gas Pipeline, which is a natural gas pipeline that stretches from Egypt into Jordan and other neighbouring countries.

Egyptian exports of natural gas and derivatives declined by approximately 75% during June to $19m,
04:55 GMT

Egypt has ceased exporting gas to Jordan several times this year due to the tense situation in Sinai and multiple explosions on the export pipeline.

August 14, 2014

 
An energy powerhouse, Iran has the second-largest reserves of natural gas in the world after Russia,
12:06 GMT

Condensates represent a gray area in the oil and gas world, and even OPEC is challenged about how to define the product.

August 12, 2014

During the event
09:30 GMT
(press release)

The Corporate Social Responsibility (CSR) initiatives rolled out by Emirates National Oil Company (ENOC) during the Holy Month of Ramadan have positively influenced thousands of people, with the ongoing ‘Human Fuel’ campaign continuing to raise funds to address global poverty.

Rashid Al Ameeri, Sr. Manager of EPPCO Lubricants, signs an exclusive five-year supply agreement for lubricants and oils with Kulwant Singh, CEO/MD of BK Group Holdings, the joint venture company of Lama Group and Car Fare
05:25 GMT
(press release)

EPPCO Lubricants, a business division of Emirates National Oil Company (ENOC), today signed an exclusive five-year supply agreement with BK Group Holdings, the joint venture of Lama Group.

To counter supply outages in Iraq and among other OPEC producers, Saudi Arabia has maintained a high level of oil output
04:55 GMT

"The more the Kingdom produces, the lower its spare production capacity becomes, meaning the smaller the cushion to cope with new supply disruptions."

August 11, 2014

“The market has become more complacent about supply again. But complacency is dangerous. Given the geopolitical tensions, a spike in oil prices cannot and should not be ruled out.”
23:35 GMT

“There’s talk of changes in Baghdad. The oil market is sort of waiting to see what happens,” Wardell said.

Nabile Aityoussef honors one of the employees working at “Freshplus” Store in Al Twar in the presence of Darren Smith
08:27 GMT

Emirates General Petroleum Corporation "Emarat", celebrated the first anniversary for the opening of a “Freshplus” Store in Al Twar in Dubai.

The contract provides for the UAE to import some 600 million cubic feet per day of Iranian gas, though the actual amount will depend on many factors and may only become clear in coming months.
08:03 GMT

The UAE is eager to obtain additional natural gas supplies to support its rapid economic growth.

August 10, 2014

ENOC inaugurates first commercial fuel station at DWC
10:28 GMT
(press release)

Emirates National Oil Company (ENOC) has inaugurated its first commercial service station inside Al Maktoum International at Dubai World Central (DWC).

During the event
07:25 GMT
(press release)

Continuing its sustainability-based manifestation of the tagline “Partners in Success,” EQUATE Petrochemical Company launched a number of initiatives during the holy month of Ramadan.

August 7, 2014

During the event
06:44 GMT

Middle East Lubricants Company "MELUBCO", in Jebel Ali in which Emirates General Petroleum Corporation is a shareholder, entered a Memorandum of Understanding with Dubai International Ports.

August 5, 2014

The $150 million power plant — which will be the largest PV facility in the Middle East — is one of the main projects in Jordan’s plan to diversify its power generation portfolio.
21:01 GMT

The US company said it has also finalised a long-term operations and maintenance contract for the project, which is expected to be operational by early 2016.