Oil & Energy

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Reorganizing the shipments thanks to delayed efforts to secure a terminal will add to headaches.
Egypt has missed a window to avert gas shortages this year as plans to secure a floating import terminal from a Norwegian firm hit snags.

February 10, 2014

Iran's Petroleum Minister says it plans to introduce by June a new generation of oil contracts that are more attractive to investors.
00:41 GMT

He said the new contracts are designed for the "post-sanction era," but did not provide details.

February 9, 2014

H.E. Nasser bin Khamis Al Jashmi, Undersecretary for the Ministry of Finance and Chairman of OOC
11:18 GMT
(press release)

As part of its broad investment programme to increase presence in key growth markets, Oman Oil Company has announced the opening of its first representative overseas office in Dar es Salaam, Tanzania.

February 6, 2014

The action plan includes projections for growing demand on electricity
13:55 GMT

UAE aims to set up a draft plan for developing domestic energy policies and vision up to 2030, said a report, citing the country's energy minister.

Jordan’s oil imports from Iraq represent around 10 per cent of the Kingdom’s daily needs
12:55 GMT

Jordan’s oil imports from Iraq have been halted due to security conditions in Anbar province.

Mr. Abdulla Hassan Al Noman, Manager, Retail Sales Operations, at Emarat
10:14 GMT

Emarat retail’s management has always been giving priority to training programs for its front-line staff, believing that the nature of their work requires direct and constant contact with customers.

February 5, 2014

The discount of US crude to Brent narrowed on Wednesday to its smallest since mid-October as traders expected the startup of a pipeline from Cushing to refineries on the US.
14:07 GMT

Other analysts saw little to push Brent much higher due to higher output in Libya and the North Sea.

The entry of the Indian gas cylinders to the local market will be based on the results of the technical test conducted by the German lab
08:38 GMT

Jordan Petroleum Refinery Company (JPRC) CEO Abdel Karim Alawin on Tuesday held press conference to talk about the controversial gas cylinders imported from India.

February 4, 2014

The Saudi Arabian diesel generators market has witnessed a significant growth due to increase in construction and industrial activities
09:49 GMT

High economic growth rate, continuing investments towards world class infrastructure, growth in telecom market, coupled with expansion of healthcare industry and the housing market are few of the key factors driving the demand for diesel generators in Saudi Arabia.

Matar Al Tayer honoring Abdulraoof Abdul Aziz in presence of shamil team
06:49 GMT

The Roads and Transportation Authority in Dubai honored Shamil for Vehicles Testing and Registration Services, an affiliate of Emarat, after its center at Nad Al Hamar won the best service provider award for 2013.

February 3, 2014

Mulham Al Jarf, Deputy CEO of OOC speaking during the launch of launch of Oman oil Company's Hyperion Oracle System
10:12 GMT
(press release)

Oman Oil Company (OOC) has deployed the Oracle Hyperion financial management portfolio to achieve flexible consolidation of financial and management data across its group of companies.

February 2, 2014

$4.2 billion of Iranian frozen assets would be released in eight stages and Tehran
12:55 GMT

Following the implementation of a nuclear deal between the Islamic Republic and the six world powers, Tehran has received the first installment of its $4.2-billion funds previously blocked overseas.

OPEC reported its lowest output in over two years in December 2013 (File Archive)
12:00 GMT

OPEC's oil output has risen since its December low due to a partial recovery in Libya's oil supply.

Of the 2.228 million bpd exported in January, 2.036 came from Basra and 192,000 from Kirkuk,
04:55 GMT

Crude exports from Iraq declined in January to an average of 2.228 million barrels per day (bpd) but should rise next month, Oil Minister Abdul Kareem Luaibi said.

January 30, 2014

Iraq is poised to triple its crude oil output from three million barrels per day to nine million by 2020.
20:03 GMT

The combined oil reserves of Iraq and Iran are greater than that of Saudi Arabia - the world’s second largest producer of crude after Russia.

January 29, 2014

During the last 10 days, Egyptians have reported regular electricity cuts, the second wave of its kind this winter.
22:42 GMT

Power cuts have become frequent in Egypt even in winter when consumption is considerably lower than in the summer.