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.

August 11, 2014

Nabile Aityoussef honors one of the employees working at “Freshplus” Store in Al Twar in the presence of Darren Smith
08:27 GMT

Emirates General Petroleum Corporation "Emarat", celebrated the first anniversary for the opening of a “Freshplus” Store in Al Twar in Dubai.

The contract provides for the UAE to import some 600 million cubic feet per day of Iranian gas, though the actual amount will depend on many factors and may only become clear in coming months.
08:03 GMT

The UAE is eager to obtain additional natural gas supplies to support its rapid economic growth.

August 10, 2014

ENOC inaugurates first commercial fuel station at DWC
10:28 GMT
(press release)

Emirates National Oil Company (ENOC) has inaugurated its first commercial service station inside Al Maktoum International at Dubai World Central (DWC).

During the event
07:25 GMT
(press release)

Continuing its sustainability-based manifestation of the tagline “Partners in Success,” EQUATE Petrochemical Company launched a number of initiatives during the holy month of Ramadan.

August 7, 2014

During the event
06:44 GMT

Middle East Lubricants Company "MELUBCO", in Jebel Ali in which Emirates General Petroleum Corporation is a shareholder, entered a Memorandum of Understanding with Dubai International Ports.

August 5, 2014

The $150 million power plant — which will be the largest PV facility in the Middle East — is one of the main projects in Jordan’s plan to diversify its power generation portfolio.
21:01 GMT

The US company said it has also finalised a long-term operations and maintenance contract for the project, which is expected to be operational by early 2016.

Market observers said the proactively worded statement was a political ploy made just days before Turkey prepares to elect its president directly for the first time in the history of the republic.
21:01 GMT

“If a pipeline is built from Israel, it will flow not with gas but with the blood of innocent children and mothers,” said Yıldız, who was joined by Malta Energy Minister Konrad Mizzi at the press briefing.

Burhan Al Hashemi, Managing Director of ENOC Retail
10:26 GMT
(press release)

Emirates National Oil Company (ENOC) will roll out a never-before campaign until 5 September 2014, offering customers the opportunity to ‘shop and live for free’ for an entire year.

EQUATE Transform Awards MENA 2014
05:25 GMT
(press release)

EQUATE Petrochemical Company earned the Gold Award from the prestigious Transform Awards MENA 2014 for the best internal communication category during a rebrand.

August 4, 2014

The project, located on Saudi Arabia’s Red Sea coast, received a formal go-ahead from the parent firms in 2012.
20:15 GMT

However, it added that both Aramco and Sumitomo would continue to guarantee finance needed to build the project.

During the event
09:56 GMT
(press release)

Emirates National Oil Company (ENOC) has joined hands with the UK-based Energy Institute, to organise specialised training programmes on energy and resource conservation for ENOC managers and technicians.

July 31, 2014

The report additionally forecast that Saudi oil reserves will rise to as much as 273 billion bbls by 2017.
04:55 GMT

The country has maintained high oil production and exports by historical standards in the first half of this year.

July 28, 2014

Stover added that the current Tamar pipeline has on several occasion reached its full capacity due to high demand in Israel.
04:13 GMT

"The third quarter estimate also included a reduced assumption for natural gas sales in Israel as a result of the ongoing conflict."

July 27, 2014

US oil production has embarked on an unprecedented 50 percent rise over the past four years as new drilling techniques allowed oil to flow from vast shale reserves
04:54 GMT

If Exxon presses ahead, the investment would be a further indication that the American oil giant is breaking ranks with many of its big global rivals.

July 23, 2014

The profit gains add to RAK Petroleum's fifth consecutive year of profitability (File/AFP)
10:48 GMT

Leading energy investment company, RAK Petroleum Public Company, posted $15.81 million net profit since December 2013, marking a fifth year of increased gains.