Oil & Energy

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Consumer prices in Lebanon have remained unchanged despite a marked decline in fuel costs
December 28, 2014 - 13:48 GMT
Consumer prices in Lebanon have remained unchanged despite a marked decline in fuel costs following a drop in international oil prices.

December 14, 2014

"We're putting $550 billion into fossil fuel subsidies," per year, she said. "Use this opportunity to phase them out!", she added.
18:28 GMT

World leaders have a "golden opportunity" with plunging oil prices to put a price on carbon emissions since cheaper fuel makes the move less risky politically, said the International Energy Agency (IEA).

On Wednesday, Naimi shrugged off suggestions that Saudi Arabia might cut production to reverse the deepest price slump in years.
18:17 GMT

Crude oil supplies from Saudi Arabia inched up in November from a month earlier, an industry source said, signalling no change in the kingdom's supply

Tareq Al-Kandari, Sheikh Alzain Al-Sabah, Mohammad Al-Sharhan, College Dean Dr. Husain Al-Khayyat, Dhari Al-Baghli
06:09 GMT
(press release)

EQUATE Petrochemical Company, Kuwait’s first international petrochemical joint-venture, sponsored the 17th Career Fair organized by Kuwait University’s College of Engineering & Petroleum.

December 11, 2014


Riyadh has said its oil policy is based on economic principles.
16:40 GMT

Iranian President Hassan Rouhani has blamed unnamed countries of plotting to bring down crude prices.

December 10, 2014

"I can't accept having my history stigmatised with approving a deal that might harm Jordan and Jordanians. The government is here to serve the country and its interests," the premier said.
21:32 GMT

Lawmakers on Wednesday recommended that the government shelve a planned natural gas deal with Israel following two long sessions dedicated to discussing the controversial issue.

Jordan currently imports 97% of its energy, paying at least double what it would pay for Israeli gas.
18:01 GMT

Buying Israeli gas will save the Jordanian economy $1.5 billion a year.

Oil prices will stay at about $65 a barrel for at least half a year until OPEC changes its collective production
17:36 GMT

A breakdown in OPEC solidarity or a price war among producers for market share will lead to an “enormous price-dive shock.”

BP is one of the largest foreign investors in Egypt, which wants foreign companies to help ease one of its worst energy crises in decades.
15:53 GMT

British oil major BP plans to invest more than $12 billion in Egypt over the next five years.

December 9, 2014

 
Egypt will be the second – after Kuwait – to sign a nuclear memorandum with Jordan.
14:33 GMT

Egypt will be the second – after Kuwait – to sign a nuclear memorandum with Jordan

TGI and Equate
09:28 GMT
(press release)

EQUATE Petrochemical Company sponsored Kuwait’s fifth annual convention on the occasion of “The International Day of Persons with Disabilities” organized by Training Gate International.

December 8, 2014

At a meeting last month, top oil exporter Saudi Arabia resisted calls from poorer members of the Organization of the Petroleum Exporting Countries to reduce production
17:27 GMT

Brent crude oil fell more than $2 a barrel on Monday to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output.

The resurgence in US hiring accelerated in November and put 2014 on track to be the healthiest year for job growth since 1999.
14:33 GMT

With one month to go, 2014 is already the best year for hiring in 15 years.

Soaring energy use and inadequate gas supplies have spurred the UAE to look to nuclear power to diversify its energy sources beyond
13:13 GMT

The UAE is the first Gulf Arab state to start building a nuclear power plant to generate energy.

Rouhani admitted the budget for the fiscal year starting in March 2015 "would be under pressure" given the big fall in oil prices in recent months
12:40 GMT

"Such a drop is unprecedented," he said in a speech to parliament carried live on state television, noting that the government had been cautious in its forecasts.

During the event
07:28 GMT

Mr. Abdulla Hassan Al Noman, Senior Manager Retail Operations at Emirates General Petroleum Corporation "Emarat", praised the corporation’s employees at various stations in Dubai and the Northern Emirates, for their honesty and civilized behavior and dedication to their assigned duties.