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 25, 2013

OPEC member Venezuela has the world's largest proven oil reserves and produces up to three million barrels a day.
13:51 GMT

"It is an agreement of cooperation and solidarity with our oil industry... a sale of fuel at a fair price," Jaua said at a press conference.

August 22, 2013

Dubai Electricity and Water Authority
13:00 GMT
(press release)

Dubai Electricity and Water Authority in collaboration with the Dubai Health Authority has presented a lecture on the corona virus known as the Middle East Respiratory Syndrome virus.

August 21, 2013

DEWA's Nurseries
12:30 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) has announced the launch of a new nursery at its Warsan branch.

McDonald's UAE presented ENOC Award
07:53 GMT
(press release)

Emirates National Oil Company awarded McDonald’s UAE with its prestigious “Strategic Partnership” title for the second time.

August 20, 2013

Goldman Sachs said Monday it expected tighter oil markets to propel Brent to $115 “in the very near term.”
08:00 GMT

“Bloodshed and unrest in Egypt and the disruption of oil supplies from Libya have put a floor under oil prices.”

August 19, 2013

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA
05:33 GMT
(press release)

The work on the first hydrogeology report, commissioned by Dubai Electricity and Water Authority (DEWA), is on track for delivery.

August 15, 2013

During the workshop
05:55 GMT
(press release)

DEWA's Women Committee has organised an educational workshop on women’s etiquette, presented by Mohammed Al Marzouqi, an expert on etiquette, social behaviour, and international protocol.

August 14, 2013

Investments worth $63.1 billion will be in the GCC, $21.4 billion in Iran and approximately $53 billion in the combined other countries of the region.
13:11 GMT

What will it take to secure the MENA region's energy future?

Brent crude oil rose toward $110 per barrel Tuesday after oil exports from Libya fell to their lowest for two years, heightening supply worries ahead of scheduled cuts in output from fellow OPEC member Iraq.
09:23 GMT

Striking security guards shut Libya’s two biggest crude export terminals Monday, hours after they had reopened, and more oil fields have closed in a wave of protest that has swept the North African oil producer.

The country earned $7.3 billion from its exports this month.
08:06 GMT

Iraqi crude sales hit a 16-month low in July as exports along a northern pipeline stalled even as production rose, the oil ministry said on Wednesday.

August 13, 2013

Baghdad claims sole authority over oil exploration and export. It has already accused the Kurds in the past of smuggling crude via Iran and keeping the revenue for itself
11:34 GMT

In a dispute largely over revenue sharing, Kurdistan’s crude exports through a pipeline controlled by the Iraqi central government dried up last year. Now, Kurdistan has found a new "alternative".

Empower specializes in providing cooling services that reduce energy consumption in one of the most energy consuming areas in the world.
07:42 GMT

The loan is part of a syndicated loan facility comprising a consortium of international and local banks and financial institutions with Emirates NBD being the facility agent.

August 12, 2013

Desalination is the main source of water in Saudi. Even though this requires high amounts of energy to convert sea water into drinking water, it is still the most viable solution for the country.
13:07 GMT

The Saudi Government has set aside around $7 billion to spend on water sector related projects this year, and this is expected to go up as more projects are in pipeline, specially desalination and wastewater treatment projects.

DEWA head office
06:30 GMT

DEWA has replaced 5,200 lighting units with new cutting-edge and highly-efficient lighting systems across its premises, including power stations, substations and offices, at a total cost of AED 5 million.

August 6, 2013

The extra charge will be used to offset the operational expenditure incurred by the merchant and the acquirer.
08:11 GMT

The surcharge that UAE cardholders are now paying to petrol stations will be shared between the merchants and the acquirers or banks that process the transaction,