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.

February 18, 2014

HE Shaikha Lubna Bint Khalid Al Qasimi, HE Abdul Aziz Abdulla Saeed Al Ameri, HE Saeed Fadhel Ahmed Al Mazrooei, Mr Laith Al Fraih
11:07 GMT
(press release)

The ENEC has completed another milestone in the development of the UAE’s peaceful nuclear energy program by installing one of the largest condensers in the Middle East region for the UAE’s first nuclear energy plant.

Gas use at oilfields rose 4.9 per cent to 9,047mn m3 in 2013
07:55 GMT

The consumption of natural gas in the sultanate grew by 3.2 per cent in 2013, mainly on the increased use of gas in oilfields and growing demand from industrial projects.

Pressure on French energy giant Total to pay more for liquefied natural gas that it ships from Yemen has intensified.
03:55 GMT

Last week, official news agency Saba quoted unnamed judicial sources as saying the government’s Public Funds Prosecution service, had started to probe the arrangement with Total.

February 17, 2014

Oumran added that Egypt is not currently facing any hindrances in its plan to produce renewable energy through wind and solar energy.
22:20 GMT

“The government has a long term plan which aims to generate 5500 MW through the use of traditional energy resources and 250 MW, through renewable energy, by 2027,” Oumran said.

During the event
11:39 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) organised its seventh mass wedding initiative with over 45 DEWA employees marrying at a ceremony.

OOC, Ghaytuh Closing Ceremony
08:10 GMT
(press release)

Ghaytuh programme builds on the best international practices in entrepreneurship education with tripled participation in second edition.

Mr. Abdulla Hassan Al Noman, Manager, Retail Sales Operations at Emarat
05:51 GMT
(press release)

Under the theme "Race Away with Harley Davidson", Emirates General Petroleum Corporation launched a new promotional campaign aiming to enhance winning opportunities for the customers at its service stations.

February 16, 2014

The country has over 4.4 billion barrels of proved oil reserves
08:55 GMT

Egypt’s government has signed three new oil and gas exploration agreements, hoping to bring a total of $265 million worth of investments into the country’s energy sector.

During the event
05:53 GMT
(press release)

Emirates National Oil Company (ENOC) hosted international students from renowned universities, for a series of educational visits recently.

The four Asian buyers together cut oil imports from Iran by 15 percent on the year to an average of 935,862 bpd in 2013, government and industry data showed.
03:55 GMT

South Korea's crude imports from Iran fell 51 percent in January from a month earlier.

February 13, 2014

Lukoil may resume its Anaran project in Iran after the U.S. lifts sanctions (Courtesy of Barents Observer)
15:00 GMT

Russia's Lukoil announced this week that it is will to return to Iran to boost its investments in the country after the U.S. lifts its sanctions against Tehran.

Lebanon's GDP in 2014 is expected to be slightly better than 2013 (Courtesy of Al Akhbar English)
07:55 GMT

Lebanese net proceeds from its oil wealth may "easily" exceed $600 billion, new data shows.

The Clean Fuels Project is a specification upgrade and expansion of Kuwait’s largest refineries as part of the Gulf state’s economic development plan, which has faced delays partly due to political instability.
03:55 GMT

Kuwait has approved bids worth a total of $12 billion for major upgrades at two oil refineries, the state-run oil company said, in a sign it is moving ahead with large infrastructure projects.

February 12, 2014

By 2020, four nuclear plants will be generating up to a quarter of the nation’s electricity supply.
17:33 GMT

In order to diversify its energy production, the UAE has been stepping up its nuclear programme.

OPEC’s report comes a day after the U.S. government’s Energy Information Administration raised its 2014 world oil demand growth forecast by a similar increment.
17:12 GMT

World oil demand will rise slightly more than expected in 2014, OPEC said on Wednesday, becoming the second major forecaster this week to predict higher fuel use as economic growth picks up in Europe and the United States.