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)
July 23, 2014 - 12:12 GMT
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 5, 2014

The crisis has seen output plunge to about 250,000 bpd from nearly 1.5 million bpd before.
17:24 GMT

Limited production has resumed in Libya’s Al Sharara oilfield, blockaded since October 28 by residents of the southern region of Ubari, a National Oil Company (NOC) official said on Sunday.

Average daily volume
10:36 GMT
(press release)

The Dubai Mercantile Exchange ended 2013 on a record high with its flagship DME Oman Crude Oil Futures contract posting year-on-year average daily volume trading growth of 36 per cent with 6,355 lots per day.

ENOC Retail opens ZOOM Market
05:26 GMT
(press release)

ENOC Retail, the retail business subsidiary of Emirates National Oil Company (ENOC), has opened its ZOOM Market stores in Dubai Shopping Centre in Deira and at Bab Al Bahr in Ras Al Khaimah.

December 31, 2013

Saudi Arabia’s oil exports hit 2.66 billion barrels in 2013.
18:48 GMT

According to the IEA data, oil production from non-OPEC countries, led by the US Canada and Brazil, will increase to 56.5 million barrels a day by 2014, he added.

Delegation in front of one of the Convenience Stores
08:29 GMT

A delegation from different oil companies in Indonesia, visited Emarat to observe the procedures and processes adopted by the Corporation in the fields of service stations management.

December 29, 2013

Abdulla Hassan Al Noman with the winning team
06:35 GMT

The Retail Sales Department at Emirates General Petroleum Corporation "Emarat" recently organized a cricket championship for the employees at its service stations.

December 26, 2013

Natural gas supplied by Aramco is expected to double next year. (Image credit: Shutterstock)
09:19 GMT

Higher prices and improved demand outlook are expected to increase the 2014 year-on-year earnings of top 10 Saudi Arabian petrochemical companies.

The agreement was signed by Syrian Oil Minister Suleiman Abbas, Syria’s General Petroleum Company and the Russian Soyuzneftegaz company.
03:55 GMT

The contract “is the first ever for oil and gas exploration in Syria’s waters,” head of the General Petroleum Company Ali Abbas told AFP.

December 25, 2013

Bahrain diesel prices will gradually increase over the next five years, with prices set to double by 2017 (File Archive)
05:00 GMT

Bahrain announced Tuesday that it will "gradually raise" its national diesel fuel selling price to "reduce [the country's] heavy subsidy burden."

December 24, 2013

“According to the South Sudanese petroleum ministry… oil production in the state of Unity has been shut down, resulting in a loss of production of some 45,000 barrels per day.
18:40 GMT

At least 45,000 South Sudanese civilians have sought protection at badly overstretched UN bases amid brutal fighting that has spread to half of the young nation’s 10 states, the United Nations said Tuesday

The Egyptian government owes Dana Gas $330 million (File Archive)
13:14 GMT

Dana Gas received $53 million from the Egyptian Government Tuesday as part of its outstanding receivable from Cairo worth $330 million.

December 23, 2013

Honorees in a group picture with Dr. Rahma bin Mohamed Al Shamsi in presence of Abdullah Hassan Al Noman
07:52 GMT

Emirates General Petroleum Corporation "Emarat" recently organized a ceremony for Emarat's stations supervisors in appreciation of their substantial efforts in supervising the service stations of the Corporation.

December 22, 2013

The offer is likely to attract solid demand, considering the strong performance of the Qatar market.
17:58 GMT

Mesaieed Petrochemical Holding Co, a unit of state-owned energy giant Qatar Petroleum, will launch a 3.2 billion-riyal ($880 million) initial public offering of its shares in the local market next month.

During the event
05:27 GMT
(press release)

Staff members of the Emirates National Oil Company were actively involved in cleaning up the environment as part of the company’s Corporate Social Responsibility (CSR) commitment.

December 19, 2013

ENOC's Feeding the Hungry Campaign
10:31 GMT
(press release)

Emirates National Oil Company (ENOC) has unveiled its most ambitious Corporate Social Responsibility (CSR) campaign to date with the launch of the ‘Human Fuel’ initiative.