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.

March 12, 2014

Yanqul Copper Project
10:07 GMT
(press release)

Oman Oil Company (OOC) has announced its first mining venture in Oman after signing a Memorandum of Understanding (MoU) with Mawarid Mining and Oman Mining Company to develop the Yanqul Copper Project.

March 11, 2014

During the event
11:47 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) participated in the 10th Annual One-on-One Conference under the patronage of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum.

During the event
10:09 GMT
(press release)

Sharing the nation’s passion for football, Oman Oil Marketing Company (omanoil) is sponsoring the upcoming friendly match between legendary football clubs, FC Barcelona and Real Madrid CF.

Jordan wants to establish a nuclear reactor to cut down its dependency of foreign energy imports that currently account for 96 percent of the country's energy stock (File Archive/Shutterstock)
08:00 GMT

Jordan's Atomic Energy Commission is planning to sign two agreements with Russia's Rosatom to establish the country's first nuclear reactor.

March 10, 2014

During the event
13:20 GMT
(press release)

Emirates National Oil Company (ENOC) has commenced the vocational training programme for six students from the Rashid Centre for the Disabled.

Floods in the Gaza Strip in December left many people without power and forced thousands to evacuate from their homes (File Archive/AFP)
12:00 GMT

The Gaza strip's sole power plant is expected to cease operations within days after the territory finishes its last and final shipment of Qatar-donated diesel.

Jordan consumes 100,000 barrels of oil a day, according to government figures (File Archive/Shutterstock)
07:56 GMT

Iraq's Oil Minister told media outlets this week that Baghdad is ready to double its crude oil exports to Jordan at "preferential prices."

March 9, 2014

In 2012, Oman exported about OMR3.5 billion worth of non-oil commodities
09:55 GMT

Oman has set a target to increase by 15 per cent the value of its non-oil exports this year.

During the event
09:43 GMT
(press release)

In line with its Corporate Social Responsibility (CSR) programmes, Oman Oil Company (OOC) hosted the Road Safety Awareness Campaign at its headquarters.

March 6, 2014

ENOC
10:26 GMT
(press release)

Emirates National Oil Company (ENOC) has announced its year-round support to the IPC 2014 Powerlifting World Championship organised by the Dubai Club for the Disabled with the support of Dubai Sports Council.

India and the UAE agreed to cooperate for setting up a strategic petroleum reserve in Asia’s third largest economy
09:25 GMT

A UAE move will boost India’s ambitious project of establishing 5.03 million metric tonnes (MMT) strategic crude oil storages.

Iran is on course to become the world’s largest importer of natural gas by 2025 unless it can rein in rampant domestic demand,
03:55 GMT

Iran sits on the world’s largest gas reserves, according to estimates by BP, and Iranian energy officials have boasted for years about becoming a top gas exporter soon.

"Under such a scenario, sovereign credit quality in the GCC would be affected to varying degrees, with Bahrain and Oman most vulnerable to a potential downward adjustment of their sovereign rating."
03:55 GMT

The effects on the economies of Gulf Cooperation Council (GCC) countries would be negative to neutral under an adverse scenario in which oil prices decline to $90 per barrel (pb) by 2020

March 5, 2014

Bee'ah's solar-powered cleaning boats ensure Sharjah's lagoons are clean while reducing carbon emissions (Courtesy of Build Green)
13:48 GMT

UAE-based Bee'ah introduced the region's first solar-powered water surface cleaning boats in Sharjah.

March 4, 2014

ENOC  EPPCO expand fuel self-service to 20 more stations
11:53 GMT
(press release)

Emirates National Oil Company (ENOC) will introduce fuel self-service to 20 more service stations from March 5, 2014.