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.

September 29, 2013

Mohammad Husain, EQUATE President & CEO
06:45 GMT
(press release)

EQUATE Petrochemical Company announced its sponsorship of the 2nd Middle East Process Engineering Conference & Exhibition under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa the Prime Minister of Bahrain.

Rashed Al Jarwan with Simon Cattle and Andy Laven in presence of Abdulrahman Qasim Al Ali
06:17 GMT

Mr. Rashed Al Jarwan, chairman of Emoil Petroleum Storage welcomed Mr. Simon Cattle President Oil & Gas Integrated Supply & Trading, Middle East, in his new capacity as a member in Emoil’s board of directors.

September 25, 2013

During the event
12:00 GMT
(press release)

EQUATE Petrochemical Company was recognized with Arabian Business Corporate Social Responsibility (CSR) Achievement Award 2013 for the third consecutive year in terms of Kuwaiti organizations.

Shale oil production reached about 2 million barrels a day last year, pushing overall US output to 6.4 million barrels of oil per day, the most in 15 years and 32 per cent above the level five years ago.
09:56 GMT

The US shale boom is raising the prospect of energy independence in the world's biggest oil consumer.

During the award cermony
05:32 GMT
(press release)

Dubai Electricity and Water Authority has been bestowed with top honours at the annual Gulf Business Industry Awards 2013.

September 24, 2013

Saeed Khoory, Chief Executive Officer of ENOC
11:18 GMT
(press release)

ENOC to uphold the highest standards of business ethics and compliance across all its operations, the company has introduced its Code of Business Conduct to three more Group entities.

September 23, 2013

Around 100 tons of black oil are planned to be exported through the port of Anzali to Russia
11:55 GMT

Iraq is exporting black oil to Russia through the Iranian port of Anzali in the Caspian Sea, Gilan Province Port Management Head Farhad Montaser Kuhsari said today.

September 22, 2013

The Anglo-Dutch major, in charge of operations at the southern Majnoon oil field, said on Friday it aims to boost output to 175,000 barrels per day (bpd) in October.
11:30 GMT

Royal Dutch Shell has restarted production at Iraq's Majnoon oil field, one of four giant fields core to the country's plans to boost output and avoid a slowdown in exports this year.

September 19, 2013

Another Russian company Lukoil suffered a $63 million loss when it withdrew from a project in the Aran oilfield
15:55 GMT

Zarubezhneftegaz Company of Russia has announced readiness to develop a newly discovered gas field in Iran.

The pipeline will replace an ageing 230,000 bpd link and will help Bapco expand its 267,000 bpd Sitra refinery to up to 460,000 bpd
11:02 GMT

Saudi Arabia and Bahrain have approved plans to lay a 350,000-barrel per day (bpd) oil pipeline between the two countries.

September 18, 2013

Payments for oil are estimated to rise to 4 million tons in the year ending March 31, versus 3.9 million tons in the previous 12 months
15:55 GMT

Iran plans to import 8-10 million liters of premium gasoline from India per day, the Fars News Agency reported on Tuesday.

Dubai Electricity and Water Authority
12:47 GMT
(press release)

Dubai Electricity and Water Authority in cooperation with Emirates Group, has organised an introductory workshop to present a number of exclusive offers by Emirates Group to DEWA’s employees.

The solar EOR project produces a daily average of 50 tonnes of emissions free steam
12:01 GMT

Enclosed trough system from GlassPoint uses the sun’s energy to produce steam for thermal EOR, thereby reducing the need to burn natural gas.

September 17, 2013

Uganda, South Sudan and Kenya "possibly" within this year will create a joint company to construct and maintain the oil pipeline
12:10 GMT

A Japanese firm is set to lay down 2,000 kilometres of pipeline for oil exports from South Sudan and Uganda via Kenya.

Qatar shows a high degree of investor confidence
11:28 GMT

AN overwhelming majority of 93 percent respondents rated current business conditions in Qatar's oil and gas sector as positive, and 86 percent believe that conditions will remain positive in the next 12 months.