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 18, 2013

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.

September 15, 2013

Lagarde refused to comment on the money that Egypt received from the Gulf Cooperation Council (GCC).
08:46 GMT

The remarks came after two years’ of negotiations between Egypt and the IMF over a $4.8 billion loan had stalled out following the 3 July ouster of former president Mohamed Morsi.

New York crude had struck $112.24 a barrel at the end of August, which was the highest level for more than two years.
07:49 GMT

Oil prices fell Friday as dealers monitored diplomatic efforts to get Syria to give up its chemical weapons and avert a US-led military attack that could disrupt crude supplies.

Hesham Ali Mustafa, Senior Director, ENOC Gas Marketing
06:21 GMT
(press release)

Emirates Gas, a subsidiary of the Emirates National Oil Company, has launched “Emirates Gas” App, a new application for smartphones, exclusively for its customers and the society at large in the UAE.

September 12, 2013

Dozens of Lebanese firms are moving their operations abroad, the head of the Beirut Chamber of Commerce told The Daily Star Wednesday, amid what he termed was an “unprecedented economic slowdown.”
10:37 GMT

An industry source who declined to be identified told The Daily Star that one major producer of tissue paper recently relocated a production line to Egypt, in a move that reduced electricity costs by up to $500,000 a year

September 9, 2013

The IEA comprises OECD countries that hold strategic inventories which can be released in the event of a supply disruption in oil markets.
14:24 GMT

Supply outages from Libya and concerns the escalating situation in Syria could spill into other Middle East countries has pushed up prices for international benchmark Brent by nearly $8 this month to over $115 a barrel.

Omanoil JV Terminal
08:59 GMT
(press release)

Oman Oil Marketing Company’s Joint Venture Mina Al Fahal Distribution Terminal with Al Maha Petroleum has achieved a milestone of 21 years of safe operations without Lost Time Injury.

September 5, 2013

The biggest damage resulting from the closure of oil facilities is the reduction in the production of oil and gas, which has caused a deficit in the general budget of the Libyan state.
14:54 GMT

The Libyan government said strikes at its oil fields and export terminals were pushing production levels back toward lows witnessed during the civil war.

During the meeting
07:31 GMT
(press release)

Dubai Electricity and Water Authority received a delegation from Ajman Free Zone Authority to further strengthen collaboration between the two parties.

September 2, 2013

“Our top priority at JIB is to attract investments in the renewable energy sector due to the dire need of the Kingdom to diversify energy resources," said Awni Rushound, CEO of the Jordan Investment Board.
07:26 GMT

Foreign investments remain crucial to financing Jordan's renewable energy aspirations, and other countries are ready to jump on the bandwagon.

September 1, 2013

Based on the agreement, Iran would earn $3.7 billion a year from natural gas exports to Iraq.
13:55 GMT

Deputy Iranian Oil Minister Javad Owji put the cost of the 48-inch pipeline at 342 million dollars.

During the visit
12:34 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) received at its Sustainable Building in Al Quoz, a delegation from the Federal Electricity and Water Authority (FEWA).

The International Atomic Energy Agency (IAEA) is providing technical assistance to GCC states in this regard.
09:24 GMT

GCC states are developing a regional emergency response system in case of nuclear or radiological disaster, a report said.