Oil & Energy

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Last month the Paris-based International Energy Agency too conceded that the US was the biggest producer of oil and natural gas liquids.
 In view of the growing US supplies, the OPEC too is cutting forecast of demand for its own oil by 300,000 barrels a day next year.
July 13, 2014 - 23:29 GMT
World's top crude consumer, the United States, is now the world's top producer too, overtaking Russia and the OPEC kingdom Saudi Arabia.

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).

ENOC Aviation
05:03 GMT
(press release)

ENOC Aviation will highlight its growing competencies globally in the supply of high quality jet fuel that meets industry specifications and as per agreed time schedules, at the upcoming Dubai Airshow 2013.

November 14, 2013

Even in oil rich MENA, solar energy is projected to grow. (Image credit: Shutterstock)
05:42 GMT

The photovoltaics and solar thermal power plants market in the Mena region’s solar energy sector is expected to reach 3.5 gigawatts by 2015

November 13, 2013

OCTAL PET Complex - Salalah
08:43 GMT
(press release)

OCTAL has recently introduced an Organizational Development Manager (ODM) position at the company’s PET Complex in Salalah to oversee the advancement of Omani employees.

OPEC provides 35 percent of the world's oil supply and expects total demand to reach approximately 90.78 mbpd next year (Shutterstock)
06:17 GMT

The Organization of Petroleum Exporting Countries (OPEC) has increased its 2013 forecast for oil demand growth based on " expectations of better-than-expected improvement" within developed country economies

  The return of Iran to the international community would be beneficial for its neighboring countries including the Persian Gulf Arab states, the top international oil executive has said.
04:55 GMT

Total SA, Europe’s biggest oil refiner, will resume business with Iran if diplomatic talks lead to the removal of sanctions, Chief Executive Officer Christophe de Margerie said at a conference in Abu Dhabi.

November 12, 2013

Lower oil prices and decreases in global demand further serve as a "deficit threat" for many Arab states since oil export receipts currently account for 80 percent of government revenues throughout the GCC (Shutterstock)
13:06 GMT

The International Monetary Fund released a report Tuesday that states that energy exporting states in the Arab world are "not saving enough of their oil windfall" and may collectively face a fiscal deficit by 2016 if current policies do not change.

Oman Oil Marketing Company at Traffic Safety Expo 2013
11:24 GMT
(press release)

Driving national efforts to reduce road accidents, Oman Oil Marketing Company (omanoil) is sponsoring Traffic Safety Expo 2013 for the 4th consecutive year.