Oil & Energy

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There has been a diversity of opinion expressed in public statements by oil ministers,
Today
Oil analysts are putting down markers on the Organisation of the Petroleum Exporting Countries' (Opec) meeting on November 27.

October 29, 2014

During the event
09:25 GMT
(press release)

Emirates National Oil Company (ENOC) organised a breast cancer awareness day on the 29th of October in partnership with Pink Caravan.

October 28, 2014

Brent is set to average $85 a barrel in the first quarter, down from a previous forecast of $100.
17:56 GMT

US oil prices tumbled to a 28-month low below $80 per barrel on Monday after Goldman Sachs slashed its price forecasts.

During the event
10:29 GMT
(press release)

Cylingas, a subsidiary of Emirates National Oil Company (ENOC), records 1.2 Million Safe Man Hours without Lost Time Incident, on various phases of ENOC Lubricants and Grease Manufacturing Plant (ELOMP) in Fujairah.

RAK Petroleum
07:34 GMT

RAK Petroleum PCL, the UAE oil and gas investment company, today announced that it is proceeding with plans for an initial public offering and application for listing in Norway.

October 27, 2014

Iraq's oil supplies were held back by decades of war and sanction
19:42 GMT

Iraq's oil exports from its southern terminals are holding close to a record high in October and Kurdish shipments are climbing,

Oil prices have fallen by a quarter since June as excess supply and weaker demand create a glut on world markets.
17:51 GMT

Gulf states, which have based their budgets on an oil price of $80 a barrel or less, are likely to remain relatively sanguine about current oil market conditions.

October 26, 2014

Oil prices had an impact on SABIC’s earnings through the prices of raw materials and final products
13:38 GMT

The recent decline in global oil prices will prove temporary even if it lasts a year or so,the chief executive of Saudi Basic Industries Corp said on Sunday.

Supply to the market – both domestically and for exports – may differ from production depending on the movement of barrels in and out of storage.
04:55 GMT

The dip in supply comes when some in OPEC have called on its biggest producer to cut back output to support oil prices.

October 23, 2014

Iran is normally among the first members of the oil producers’ group to call for supply cuts to support prices.
04:55 GMT

Iran’s dependence on oil revenue is putting the Islamic Republic’s economy at the mercy of major powers,

October 22, 2014

Sara Akbar, CEO of Kuwait Energy
12:45 GMT
(press release)

Kuwait Energy and their main partner, the Egyptian General Petroleum Corporation,announces that the operated exploration well ASA-1 st3 on the Abu Sennan license, onshore Egypt discovered hydrocarbons in the Abu Roash” E” and Abu Roash “ C” formations.

Mr.Hussain Kazim Manager, Corporate Communications at Emarat
07:26 GMT

Emirates General Petroleum Corporation "Emarat" have lowered diesel prices by 20 fils a liter across all their service stations effective from Wednesday, 22 October 2014.

October 21, 2014

can cover the country’s needs for around 275 years, according to Khaled Shraideh.
22:29 GMT

The Kingdom’s oil shale reserves rank fifth worldwide in terms of quantity.

Christophe de Margerie, chief executive of French oil giant Total, died on Monday in a business jet that collided with a snow plough during takeoff in Russia.
21:12 GMT

With his unique bushy mustache and outspoken manner, De Margerie was one of the most respected figures among the top oil executives in the world

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA
08:53 GMT
(press release)

Since the beginning of this year, Dubai Electricity and Water Authority (DEWA) has completed four 132kV transmission substations in Dubai and extended 32km of ground cables at a total cost of AED 529 million.

October 20, 2014

 North America's shale boom has started to squeeze Saudi oil out of the US market,
23:21 GMT

Saudi crude exports fell in August for the fourth month in a row to their lowest levels in three years.