Oil & Energy

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“There is one major resource base in the world which could meet the growth in the global oil demand, which is the Middle East,” he said.
July 27, 2014 - 18:24 GMT
While euphoria over the ongoing shale revolution and the energy independence of the Americas continue, yet, there are people - cautioning and asserting - the phenomenon is short-lived and the world would continue to be dependent on the Middle East.

August 1, 2013

Saudi Arabia and the United Arab Emirates had earlier pledged a total of $8 billion in aid to Egypt
10:55 GMT

Kuwait has sent two oil tankers carrying crude and diesel worth $200 million to Egypt.

Daily consumption by power plants rose to 89 million cubic meters of gas and 17,000 tons of fuel oil
10:11 GMT

Egypt’s state gas company EGAS will cut back on the amount of gas it supplies to factories to keep electricity plants running instead during the peak summer months, Al-Borsa newspaper reported Wednesday.

July 31, 2013

The South Pars gas field holds 8 percent of total gas reserves of the world and half of the country's proven gas reserves
10:55 GMT

Gas production will start in two phases of the South Pars gas field in the near future.

During the honoring
09:46 GMT

The Municipality and Planning Department in Ajman honored Emarat, for its support in the department’s campaign titled “A Day Without Plastic Bags”, which aimed to promote for a healthy environment.

July 30, 2013

12:15 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) is organising a series of charity and social events as part of its participation in ‘Zayed Humanitarian Work Day,’.

Subsidies of fuel products, which include natural gas and fuel oil as well as gasoline and diesel, for years have been a major drain on the finances of successive governments
11:55 GMT

The new Egyptian government will press ahead with a smart card program for distributing fuel products that its predecessor had started before it was ousted by the military.

The oil marketing companies are also expected to continue their track record of high dividend payouts as their balance sheets and cash positions stay strong
06:41 GMT

The total sales revenue of Oman's three oil marketing companies grew by just 3.1 per cent to RO510mn in the first six months of 2013 against RO494.3mn in the corresponding period last year.

July 29, 2013

Egypt has more refining laboratories than it has petrol production centres, and must therefore import crude oil
12:55 GMT

Minister of Petroleum and Mineral Resources Sherif Ismail announced an agreement to import 1m barrels of crude oil monthly from Libya that will be refined in Egypt laboratories

During the event
10:13 GMT
(press release)

In efforts to continue encouraging fitness and wellbeing among its employees, Oman Oil Marketing Company (omanoil) has launched its second annual health campaign under the title, ‘I Promise’.

It needs at least 140 days to ensure safe shutdown and not the 60 days stipulated by Khartoum last June
06:51 GMT

Sudan's oil ministry has officially informed oil companies that the deadline for stopping flow of South Sudan's oil through its territories has been delayed until August 22.

Iran plans to establish 40 gas storage facilities in the coming years
06:39 GMT

Iran has built a new natural gas storage facility with a capacity to store 4.6 billion cubic meters of gas, the National Iranian Gas Company managing director stated.

July 28, 2013

The election to pick OPEC’s secretary general is scheduled to be held in Vienna on December 4, with Iran, Iraq and Saudi Arabia vying for the post
14:55 GMT

An Iranian lawmaker says chances are high for the Islamic Republic to assume the presidency of the Organization of the Petroleum Exporting Countries.

The Islamic Republic of Iran guarantees transferring millions of barrels of oil from the Persian Gulf and the Strait of Hormuz
12:23 GMT

Iran plays an undeniably key role in global energy security.

July 25, 2013

Egypt has asked Kuwait to include Kuwaiti petroleum products, including 70,000 tonnes of diesel and jet fuel worth $60-65 million, as part of the aid
11:55 GMT

Egypt's state gas company EGAS has begun talks to try to raise natural gas prices and work out how industrial consumers can pay producers directly, two newspapers reported on Wednesday.

Iran plans to allocate some facilities to enhancing the production capacity of the country’s downstream petrochemical, polymer and plastic industries
09:55 GMT

The main objective behind the plan is to reduce the export of raw petrochemical products and to create added value and new jobs.