Oil & Energy

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Instability and civil wars in the MENA region had a recent impart on oil supplies and demand (File/AFP)
July 23, 2014 - 12:12 GMT
According to a report, oil supply growth will reduce over the next 18 months. This comes with many risks. Why is the Middle East's oil industry experiencing a downfall?

May 29, 2014

Falih said Aramco’s refining capacity would be between 8 million to 10 million barrels a day (bpd) in the coming years, a figure exceeding the goal cited by Aramco in 2012 of 8 million bpd.
12:35 GMT

Saudi Aramco said its downstream investments would exceed $100 billion over the next decade, as global demand for oil rises by a quarter in the next 25 years.

Mr. Hussain Kazim, Manager Corporate Communications at Emarat
07:56 GMT

Emirates General Petroleum Corporation will participate in the Global No Smoking Day, on May 31st, 2014.

May 28, 2014

The price of oil inched higher above $104 a barrel Wednesday as the conflicts in Ukraine and Libya posed renewed risks to crude supplies.
19:15 GMT

Brent crude, a benchmark for international oils, was up 13 cents to $110.15 on the ICE exchange in London.

After the signing the quality certification
10:17 GMT

The vehicles lube oils products manufactured by Emirates General Petroleum Corporation “Emarat” have been granted the Emirates quality certificate by the Emirates Authority for Standardization and Metrology.

May 27, 2014

ENOC launches new App
08:43 GMT
(press release)

Emirates National Oil Company (ENOC) has launched its dedicated App to support the Smart Dubai vision.

May 26, 2014

Construction contracts for a new crude oil pipeline between Saudi Arabia and Bahrain are expected to be tendered by the end of the year.
21:57 GMT

The 115km-long pipeline would run overland for 74km, with the remaining 31km being sub-sea.

Iran possesses the world’s second largest reserves of natural gas and the world’s fourth largest reserves of crude oil.
01:37 GMT

The country is currently exporting about 1.2 million barrels per day and has projected 1.5 million barrels of daily sales in the national budget for the year.

May 25, 2014

Despite the steady increase in oil exports, many Iraqis complain that much of the windfall is lost to state corruption and that the proceeds have not markedly improved daily life.
11:18 GMT

Iraqi engineers began repairs Saturday to a northern oil pipeline that has been disabled for months by militant attacks, costing the country millions of dollars in lost revenues, officials said.

Major sovereign wealth funds in the Middle East and Asia have invested in Russian businesses and backed its state-funded private equity fund.
11:08 GMT

Sovereign wealth funds in China and Qatar signaled their increased commitment to Russia, boosting Moscow’s hopes of strengthening ties with Asia and the Middle East as relations with the West deteriorate.


Saudi Energy 2014 will serve as an ideal platform for energy professionals, government officials, investors and both local and regional buyers.
03:55 GMT

Saudi Energy 2014 is set to surpass the success of the 2013 edition that gathered 7,564 visitors.

May 22, 2014

During the event
10:06 GMT
(press release)

ENOC Lubricants Marketing, the lubricants business division of ENOC Marketing, has joined hands with their partners in Uganda, City Lubes, to host its 6th Business Meet in Uganda, Africa.

Estimation of the uranium resources in the central region are expected to increase as more exploration is carried out by JUMCO in the 350sq.km area.
03:29 GMT

The plant, he said, will have a capacity of 300-400 metric tonnes per year and can be expanded to 1,500 metric tonnes per year at a later stage.

According to the Central Bank of Egypt, tourism is ranked second in terms of most important sources of income for Egypt after remittances from Egyptians abroa
02:17 GMT

Average of 663 cubic metres of water allocated per person; amount expected to drop below 582 cubic metres by 2025

May 21, 2014

Subsidies also rose more than fourfold, from $4.1 billion to $18 billion during the same period, an annual growth rate of 23 percent, Hamada said.
03:55 GMT

Kuwait has boasted a budget surplus in each of the past 14 fiscal years, helping to increase its sovereign wealth fund to over $500 billion

“The peaceful nuclear energy plays an important role in the future of our nation; these stations will provide us the electricity we need to meet our requirements.”
02:32 GMT

The new simulators are among the world’s most advanced nuclear training devices and the first of their kind in the Middle East.