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?

November 26, 2013

Topaz will deploy boats to Azerbaijan's offshore fields during the last quarter of 2013 and the first quarter of 2014 (Courtesy of Shipbuilding Times)
09:46 GMT

Dubai-headquartered Topaz Energy and Marine has won 2 contracts with BP to begin operations in Azerbaijan's largest oil and gas fields.

KSA will use solar power energy to operate its proposed seawater desalination plant (Shutterstock)
09:29 GMT

Saudi Arabia is planning to build the world's largest solar-powered seawater desalination plant in Ras Al Khaimah

During the event
05:13 GMT

Emojet’s pavilion at the Dubai Air Show 2013 attracted several key international and local airlines.

November 25, 2013

Crude futures in New York have slumped 12% since Iranian President Hassan Rohani took office August 1, pledging to end the sanctions crippling his country’s economy.
16:38 GMT

Iran’s pledge to limit nuclear work in return for looser economic sanctions will have a “muted” impact on crude prices as the nation’s oil sales remain capped, said analysts including Societe Generale’s Mark Keenan.

November 24, 2013

Iran exported over 132,000 tons of gasoline, valued at $134 million, in the past Iranian calendar year.
18:14 GMT

The country’s fuel storage capacity is projected to hit 15 billion liters by the end of the Fifth Five-Year Economic Development Plan (2015).

November 21, 2013

Hydrogen cars are appealing because unlike electric vehicles, they have the range of a typical gasoline car and can be refueled quickly.
14:28 GMT

Hydrogen cars are appealing because unlike electric vehicles, they have the range of a typical gasoline car and can be refueled quickly.

ADNOC Technical Vehicle Inspection Centre
04:40 GMT
(press release)

ADNOC Distribution has announced the opening of three new technical vehicle inspection centres in the cities of Liwa, Ghayathi and Delma Island in Abu Dhabi’s Western Region.

November 20, 2013

The country’s ‘Aa2’ foreign and local-currency government bond ratings stand along with similar ratings of Kuwait (‘Aa2’ stable) and the UAE (‘Aa2’ stable).
18:57 GMT

Qatar, which enjoys the “highest” sovereign ratings in the Middle East and “sound” external position, has the lowest break-even oil price in the Gulf region, according to global credit rating agency Moody’s.

Saudi Arabia's Aramco, the largest crude oil exporter in the world, recently bought solar panels from Canada that it will install in one of it's power plants (Courtesy of Zawya)
11:00 GMT

Saudi Arabia met with UN representatives at this year's climate change conference to share best practices its green energy programs.

Kuwait, a key OPEC member, controls nearly 101 billion barrels of proven oil reserves at around three trillion cubic metres of natural gas.
03:55 GMT

Kuwait is pumping billions of dollars into projects to expand its oil production capacity to four million barrels per day from three mbpd within a strategy to maintain its position as one of the world’s largest crude exporters, a Kuwaiti official has said.

November 19, 2013

During the signing
09:28 GMT
(press release)

Oman Oil Marketing Company has signed a bunkering license and land lease agreement with Port of Duqm Company (PDC) to develop a bunkering terminal and ancillary facilities at the Port of Duqm.

LPG demand has surged due to increased demand from countries like China and India. (Image credit: Shutterstock)
06:32 GMT

Qatar is set to step up its chemicals, petrochemicals and LPG output in the coming years, said HE the Minister for Energy and Industry, Dr Mohamed bin Saleh al-Sada.

Solar glass is a rapidly expanding business market. (Image credit: Shutterstock)
04:51 GMT

Dubai Investments (DI), the largest investment company listed on the Dubai Financial Market (DFM), on Monday announced the launch of the first-of-its-kind, colored solar glass, which is capable of generating energy on its own.

November 18, 2013

Adel Khalifa Al Shaer and his accompanying delegation with officials of Bapco
05:43 GMT

His Excellency Adel Khalifa Al Shaer, the acting general manager at Emirates General Petroleum Corporation “Emarat” made a visit with a delegation from Emarat to Bahrain Petroleum Company “Bapco”.

November 17, 2013

Ms Eman Al Awadhi, KIPCO’s Acting Group Communications Director
07:42 GMT

KIPCO, the Kuwait Projects Company, has announced its Platinum Sponsorship of the 30th Conference of the National Union of Kuwaiti Students, USA Branch (NUKS-USA).