Oil & Energy

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 Lower oil prices and Western financial sanctions imposed over the Ukraine crisis will cost Russia around $130-140 billion a year.
November 25, 2014 - 21:20 GMT
“We’re losing around $40 billion a year because of geopolitical sanctions."

February 16, 2014

The country has over 4.4 billion barrels of proved oil reserves
08:55 GMT

Egypt’s government has signed three new oil and gas exploration agreements, hoping to bring a total of $265 million worth of investments into the country’s energy sector.

During the event
05:53 GMT
(press release)

Emirates National Oil Company (ENOC) hosted international students from renowned universities, for a series of educational visits recently.

The four Asian buyers together cut oil imports from Iran by 15 percent on the year to an average of 935,862 bpd in 2013, government and industry data showed.
03:55 GMT

South Korea's crude imports from Iran fell 51 percent in January from a month earlier.

February 13, 2014

Lukoil may resume its Anaran project in Iran after the U.S. lifts sanctions (Courtesy of Barents Observer)
15:00 GMT

Russia's Lukoil announced this week that it is will to return to Iran to boost its investments in the country after the U.S. lifts its sanctions against Tehran.

Lebanon's GDP in 2014 is expected to be slightly better than 2013 (Courtesy of Al Akhbar English)
07:55 GMT

Lebanese net proceeds from its oil wealth may "easily" exceed $600 billion, new data shows.

The Clean Fuels Project is a specification upgrade and expansion of Kuwait’s largest refineries as part of the Gulf state’s economic development plan, which has faced delays partly due to political instability.
03:55 GMT

Kuwait has approved bids worth a total of $12 billion for major upgrades at two oil refineries, the state-run oil company said, in a sign it is moving ahead with large infrastructure projects.

February 12, 2014

By 2020, four nuclear plants will be generating up to a quarter of the nation’s electricity supply.
17:33 GMT

In order to diversify its energy production, the UAE has been stepping up its nuclear programme.

OPEC’s report comes a day after the U.S. government’s Energy Information Administration raised its 2014 world oil demand growth forecast by a similar increment.
17:12 GMT

World oil demand will rise slightly more than expected in 2014, OPEC said on Wednesday, becoming the second major forecaster this week to predict higher fuel use as economic growth picks up in Europe and the United States.

ENOC Aviation Safety Culture Summit - Farid Al Bastaki
08:47 GMT
(press release)

ENOC Aviation highlighted the international safety standards it follows for into-plane operations at the Aviation Safety Culture Summit 2014.

Eng. Arif Eissa Al Muhairi with T.P. Gangadharan & colleagues
08:25 GMT

Emarat honored employee after his retirement, in its endeavor to show its appreciation for his loyal efforts and great achievements during his employment period at central workshop.

Despite the chilly relations between the Israeli and Turkish governments and the halt in defense deals, Israeli export of goods to Turkey rose to $4.9 billion in 2013 from $3.5 billion in 2012.
03:55 GMT

"Bloomberg" quotes Turkish Foreign Minister Ahmet Davutoglu as saying that the two countries "are closer than ever to normalizing ties."

February 11, 2014

In early March, 12 major experts in oil and energy sector from US, Britain, and Japan will address in a conference on the Iran’s oil.
03:55 GMT

It's time for the US to get right on board.

February 10, 2014

During the event
12:00 GMT
(press release)

The Dubai Electricity and Water Authority (DEWA), and First Solar, announced the selection of the first group of Emirati engineers, through a solar energy study, launched by Arizona State University (ASU).

Abdulrahman Qassim Al Ali and Umit Paydas in the presence of officials from Emarat and ExxonMobil Petroleum
06:35 GMT

Mr. Abdulrahman Qassim Al Ali, Commercial Sales Manager of Emarat and Chairman of Emojet, met Ms. Nancy Carlson, Director, Aviation Global Business Unit and Mr. Umit Paydas, EAME Sales Manager, Aviation Fuels, ExxonMobil Aviation.

Both exports and revenues declined in 2013 compared to the previous year despite efforts to increase sales, a drop attributed by the oil ministry to periods of bad weather and poor maintenance, but also to sabotage against the country's main northern pipeline.
03:55 GMT

"Iraq and the United States are embarking on a significant new area of cooperation."