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.

January 15, 2014

Adnoc said last week it wouldn’t renew its concession agreement with BP, Exxon Mobil, Royal Dutch Shell, Total and Partex to run the fields
20:05 GMT

Abu Dhabi plans to sell crude from its main onshore oil fields to major oil companies at a premium after a 75-year production agreement ended Saturday.

During the event
10:06 GMT
(press release)

Oman Oil Marketing Company (omanoil) has launched a Corporate Code of Ethics to further instill its values of integrity and transparency amongst its employees.

January 14, 2014

Cutting subsidies is politically difficult because of longstanding tensions between the cabinet and parliament, where many lawmakers campaign to raise social benefits.
22:15 GMT

Kuwait’s government will continue a review of its heavy spending on subsidies under a new cabinet appointed this month, the new finance minister said.

China's top crude supplier Saudi Arabia is set to ship about the same volumes to Chinese buyers in 2014 as it did last year, as the world's second-largest oil consumer takes more from Iraq and Central Asia, traders said.
22:03 GMT

Iraq, for example, has been offering cheaper prices and better payment terms to Asian buyers this year as it increases its output,

The sudden availability of Iranian oil is one of the many factors driving uncertainty in the oil market. (Image credit: Shutterstock)
09:35 GMT

Oman’s Ministry of Oil and Gas said Monday the amount of crude oil produced in December was off from the same month in 2012.

TASJEEL SELECT PLUS
08:30 GMT
(press release)

ENOC Retail has launched a dedicated TASJEEL SELECT PLUS fleet management card for customers of Tasjeel, the UAE’s one-stop shop for all vehicle testing and registration needs.

January 12, 2014

Qatar to help Iran to develop its share of the world’s biggest gas field so both countries can reap the maximum long-term rewards, sources at state-run Qatar Petroleum (QP) say.
18:02 GMT

The giant gas field beneath the waters of the Gulf, which Iran calls South Pars and Qatar calls the North Field, accounts for nearly all of the tiny Gulf state’s gas output, and around 60 per cent of its export revenues.

January 8, 2014

Israel's Ministry of Energy, Jordan's Ministry of Energy and Noble Energy all declined to comment on the report.
13:38 GMT

Israel will build a 15 kilometer pipeline from the Dead Sea to Jordan in 2015, sources told "Bloomberg."

A Syrian refugee in Jordan's Zaatari camp retrieves water. Jordan is one of the most water-scarce countries on earth (File Archive/AFP)
09:42 GMT

The Hashemite Kingdom of Jordan needs $750 million during the next three years to meet its rising demand for water resources.

During the event
09:37 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) today organised the Annual Partners’ Appreciation Ceremony, attended by HE Saeed Mohammed Al Tayer, MD and CEO of DEWA.

January 7, 2014

 In a message to members of the Organization of Petroleum Exporting Countries (OPEC), Zanganeh also said that unconventional oil production from shale reserves by non-OPEC countries will not be a threat to OPEC.
03:55 GMT

“We believe it is our right to try to increase our exports,” Zanganeh said.

January 6, 2014

During the event
10:50 GMT
(press release)

Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) has led a series of activities at DEWA’s headquarters to fulfil the ‘Thank You Khalifa’ campaign.

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.