Oil & Energy

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Instability and civil wars in the MENA region had a recent impart on oil supplies and demand (File/AFP)
Today
According to a report, oil supply growth will reduce over the next 18 months. This comes with many risks. Why is the Middle East's oil industry experiencing a downfall?

January 19, 2014

Meanwhile, diplomats said that providing the amount would not be an issue, because many IAEA member states have already expressed their willingness to help.
03:55 GMT

The International Atomic Energy Agency (IAEA) says it needs an additional amount of about six million euros for activities related to the implementation of a recent deal on Iran’s nuclear energy program

he EU also will suspend bans on trade in gold, precious metals and petrochemical products while increasing a ceiling on financial transfers not related to remaining sanctions
03:55 GMT

The EU foreign ministers will announce the move in Brussels as soon as inspectors from the UN's nuclear watchdog, the international Atomic Energy Agency (IAEA), confirm that the agreement started to be carried out,

The Gulf Arab states have conditioned normalisation of relations with Israel on its acceptance of the 2002 plan drafted by Saudi Arabia for peace with the Palestinians
03:55 GMT

Israeli Energy Minister Silvan Shalom attended a meeting Saturday of the International Renewable Energy Agency in the United Arab Emirates, which has no diplomatic relations with the Jewish state.

January 15, 2014

Adnoc said last week it wouldn’t renew its concession agreement with BP, Exxon Mobil, Royal Dutch Shell, Total and Partex to run the fields
20:05 GMT

Abu Dhabi plans to sell crude from its main onshore oil fields to major oil companies at a premium after a 75-year production agreement ended Saturday.

During the event
10:06 GMT
(press release)

Oman Oil Marketing Company (omanoil) has launched a Corporate Code of Ethics to further instill its values of integrity and transparency amongst its employees.

January 14, 2014

Cutting subsidies is politically difficult because of longstanding tensions between the cabinet and parliament, where many lawmakers campaign to raise social benefits.
22:15 GMT

Kuwait’s government will continue a review of its heavy spending on subsidies under a new cabinet appointed this month, the new finance minister said.

China's top crude supplier Saudi Arabia is set to ship about the same volumes to Chinese buyers in 2014 as it did last year, as the world's second-largest oil consumer takes more from Iraq and Central Asia, traders said.
22:03 GMT

Iraq, for example, has been offering cheaper prices and better payment terms to Asian buyers this year as it increases its output,

The sudden availability of Iranian oil is one of the many factors driving uncertainty in the oil market. (Image credit: Shutterstock)
09:35 GMT

Oman’s Ministry of Oil and Gas said Monday the amount of crude oil produced in December was off from the same month in 2012.

TASJEEL SELECT PLUS
08:30 GMT
(press release)

ENOC Retail has launched a dedicated TASJEEL SELECT PLUS fleet management card for customers of Tasjeel, the UAE’s one-stop shop for all vehicle testing and registration needs.

January 12, 2014

Qatar to help Iran to develop its share of the world’s biggest gas field so both countries can reap the maximum long-term rewards, sources at state-run Qatar Petroleum (QP) say.
18:02 GMT

The giant gas field beneath the waters of the Gulf, which Iran calls South Pars and Qatar calls the North Field, accounts for nearly all of the tiny Gulf state’s gas output, and around 60 per cent of its export revenues.

January 8, 2014

Israel's Ministry of Energy, Jordan's Ministry of Energy and Noble Energy all declined to comment on the report.
13:38 GMT

Israel will build a 15 kilometer pipeline from the Dead Sea to Jordan in 2015, sources told "Bloomberg."

A Syrian refugee in Jordan's Zaatari camp retrieves water. Jordan is one of the most water-scarce countries on earth (File Archive/AFP)
09:42 GMT

The Hashemite Kingdom of Jordan needs $750 million during the next three years to meet its rising demand for water resources.

During the event
09:37 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) today organised the Annual Partners’ Appreciation Ceremony, attended by HE Saeed Mohammed Al Tayer, MD and CEO of DEWA.

January 7, 2014

 In a message to members of the Organization of Petroleum Exporting Countries (OPEC), Zanganeh also said that unconventional oil production from shale reserves by non-OPEC countries will not be a threat to OPEC.
03:55 GMT

“We believe it is our right to try to increase our exports,” Zanganeh said.

January 6, 2014

During the event
10:50 GMT
(press release)

Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) has led a series of activities at DEWA’s headquarters to fulfil the ‘Thank You Khalifa’ campaign.