Oil & Energy

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It's all doom and gloom for the Gulfi dream as the GCC are bracing for tough times with vital oil revenues falling rapidly. (Image: Gulf man expreses grief via Shutterstock)
December 24, 2014 - 10:38 GMT
Gulf countries are bracing for tough times as vital oil revenues fall and after they missed a golden opportunity to diversify their economies in a decade of unprecedented windfalls, analysts say.

April 13, 2014

OCTAL PET Complex - Salalah
09:57 GMT
(press release)

OCTAL, one of the world’s largest PET producers and a global leader in the packaging industry, has surpassed the US$ 3 billion dollar mark in sales, a record in the company’s six-year history.

Saeed Khoory, CEO of ENOC
06:40 GMT
(press release)

Emirates National Oil Company (ENOC) is hosting the 22nd annual Middle East Petroleum & Gas Conference (MPGC), the anchor event of the Middle East Petroleum & Gas Week.

April 10, 2014

During the event
12:43 GMT
(press release)

Emirates National Oil Company (ENOC) has underlined its commitment to Corporate Social Responsibility (CSR) by winning the CSR Label Award 2014 presented by the Dubai Chamber of Commerce & Industry.

Dubai is already one of the world’s biggest hubs for commercial aviation, and it will soon become the biggest
08:55 GMT

Two Swiss adventurers plan to start and end their historic round-the-world flight in a solar aircraft from the UAE.

April 9, 2014

The plant will support the expansion of the Zubair oil field near Basra
09:55 GMT

Alstom, a global leader in power generation, has secured a contract worth nearly 400 million euros ($549 million) from Eni Iraq BV to build a 740 MW1 Zubair gas-fired power plant, near Basra in southern Iraq.

Iran and the six powers have yet to agree on the limits that Tehran will have to accept on its enrichment programme
08:55 GMT

Senior envoys from Iran and six world powers met for a new round of negotiations on Tuesday, in an effort to reach a broad agreement on scaling back Iran’s nuclear programme and lifting sanctions by July.

April 8, 2014

Tehran and Moscow are due to finalize an agreement on broader economic and trade cooperation
11:55 GMT

Iran and Russia emphasized finalizing energy agreements between the two sides.

Mohammad Al Benali with members of KBA board
10:35 GMT
(press release)

EQUATE Petrochemical Company has continued its cooperation with Kuwait Blind Association (KBA).

The deal could help bolster the authority of the weak central Libyan government in the face of the country’s powerful militias, most of which have drawn their members from the former rebels who fought against Qaddafi.
03:55 GMT

Two other oil terminals, Ras Lanuf and Sidra, would be returned to government control in two to four weeks.

April 7, 2014

Oil minister expressed hope that oil production would return to its level in 2005, that is, 4.2 million barrels per day.
19:50 GMT

Iran’s oil minister has said Iran would exploit ‘every possibility’ to increase oil exports and would not wait for US permission.

OOC Enterprise Risk Management (ERM) seminar
11:20 GMT
(press release)

Oman Oil Company (OOC) organised the first annual OOC Enterprise Risk Management (ERM) seminar to further support implementation of its (ERM) programme.

The new liquefied petroleum gas plant is designed based on state-of-the-art technology and strict health, safety and environment principles
10:55 GMT

Oman Gas Company (OGC) on Sunday signed a memorandum of understanding (MoU) with both Salalah Free Zone (SFZ) and Port of Salalah (POS) for building a world class liquefied petroleum gas (LPG) processing plant at SFZ and the storages and export facilities at the port.

Dubai is expected to be ranked second after London in terms of gold trade
06:54 GMT

The value of gold traded through Dubai stood at $75 billion last year, representing 40 per cent of the world’s physical gold trade.

Heikal made his comment while discussing a government scheme to use coal in cement factories in order to reduce subsidies, despite criticism from campaigners and the environment ministry
03:55 GMT

Sawiris then retweeted a post saying: "Like father like son… He pretends to be a socialist after the first 50 million," a clear reference to Heikal, who is widely believed to be living in London.

April 3, 2014

The LED lighting system has revolutionised the lighting industry
12:55 GMT

The Abu Dhabi City Municipality’s initiative to replace the old lighting systems in six pedestrian underpasses with modern LED lights has helped reduce their power consumption by 33 per cent.