Oil & Energy

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There is no need to increase oil production. Instead, Saudi Arabia should use its resources better (File/AFP)
Norway makes good use of its oil and gas industries respectfully. There is room for investment with the large income obtained from the energy sector. Why doesn't Saudi Arabia live off Norway's example?

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,

August 5, 2013

The Sharjah-based energy producer reported net income for the second quarter of Dh100 million, a decline of 44.7 per cent compared with the corresponding period last year.
11:31 GMT

Income at Dana Gas fell by almost half during the second quarter after lost production in the Kurdish region of Iraq and difficulties collecting debts from Egypt. Read more: http://www.thenational.ae/business/industry-insights/energy/income-at-dana-gas-tumbles-by-almost-half#ixzz2b5Qg1pGa Follow us: @TheNationalUAE on Twitter | thenational.ae on Facebook

Emirates National Oil Company
10:49 GMT
(press release)

Emirates National Oil Company and 19 of their family members, took part in the Dubai Chamber’s ‘Ramadan Care Packages ‘13’ charity initiative, Dubai’s largest community-involved event.

August 4, 2013

During the meeting
12:21 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) received a delegation from Abu Dhabi Distribution Company (ADDC) to view the Electricity Distribution Control in the Distribution Control Centre at Al Qusais.

Credit card payments at service stations
06:03 GMT
(press release)

Emirates General Petroleum Corporation and Emirates National Oil Company will start accepting Visa and MasterCard credit/debit cards for all transactions including fuel sales, from August 4, 2013.

August 1, 2013

Syria would repay the Islamic Republic for the oil supplied by allowing Iranian investments in various fields in Syria
12:55 GMT

Syria and Iran inked a banking agreement to arrange for a $3.6 billion oil credit line, the Syrian Arab National News Agency reported Tuesday.

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’.