Oil & Energy

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Oil prices have been falling – and plummeting, spiraling, nose-diving and just generally heading downwards – over the past few months.
December 17, 2014 - 04:55 GMT
Here is a look at three of the Middle East’s most affected economies – some of which are already on the brink of a serious crisis.

November 18, 2014

China will double its investment in Iran's energy projects, an Iranian official said Sunday.
17:58 GMT

Faced with tough international financial penalties, Iran has turned in recent years to China, Russia and Turkey to finance major projects.

November 17, 2014

The 12-nation OPEC group, including the world's biggest crude producer Saudi Arabia, will meet on November 27 in Vienna
22:32 GMT

He said he expected OPEC members to stick with the current output ceiling.

Zanganeh visited Qatar and Kuwait last week, ahead of the meeting, in a bid to win support for action to stabilise oil markets.
04:55 GMT

Iran’s oil minister accused some countries on Sunday of making up excuses to justify their refusal to stabilise prices by cutting output.

November 16, 2014

Burhan Al Hashemi, Managing Director – ENOC Retail, and Taleb Al Saleh, Director – ENOC Retail Operations & Marketing, receive the ‘Most Admired Retailer of the Year – Food & Grocery’ honour for ZOOM at the Retail Middle East Awards 2014
11:12 GMT
(press release)

ZOOM, the convenience store concept owned and operated by ENOC Retail, has won the ‘Most Admired Retailer of the Year – Food & Grocery’ honour at the Retail Middle East Awards 2014.

Jordan Phosphate Mines Company was founded in 1949. (File)
08:17 GMT

Jordan Phosphate Mines Company profits rose by 217.3 percent in the first nine months of 2014 due to maximized operations.

Mr.Hussain Kazim, Senior Manager Corporate Communications at Emarat
07:33 GMT

Emarat’s pavilion at the Abu Dhabi Petroleum Exhibition and Conference (ADIPEC) this year witnessed significant interest from a wide range of visitors.

November 14, 2014

Kuwait plans more than $40 billion of investment to significantly increase its capacity to produce oil and gas
00:39 GMT

The Gulf nation aims to raise the amount of crude oil it can pump by one-quarter, to 4.0 million barrels per day, by 2020.

November 13, 2014

Iran has said the steep fall in oil prices this year is the result of deliberate moves by some exporters who have kept production high to undermine Tehran’s sanctions-hit economy.
18:55 GMT

Zangeneh made a similar plea with the emir of Qatar, Sheikh Tamim bin Hamad al-Thani, during his stopover in Doha on Monday.

Oil in October fell below $83 a barrel and on Tuesday reached $80.46, its lowest since 2010.
04:55 GMT

Global demand for oil from Opec next year will be far below its current output level because of the US shale boom,

November 12, 2014

During the event
10:00 GMT
(press release)

EQUATE Petrochemical Company, Kuwait’s first international petrochemical joint-venture, received BGreen’s Lifetime Achievement Award 2014 for sustainability related achievements.

The initial start-up project is scheduled to be achieved by Q4 2018. (Image: Komec)
08:39 GMT

Abu Dhabi Marine Operating Company signed three big-scale contracts worth an estimated $3 billion for the widely anticipated Nasr Full Field Development Project.

Neither."
04:55 GMT

The Islamic State of Iraq and the Levant (ISIL) may have smuggled oil into Turkey with donkeys carrying it across the border.

November 11, 2014

Kuwait has no plans to cut its own crude production, which should increase to 4 million barrels from a current by 2020,
19:20 GMT

OPEC, which supplies about 40 percent of the world’s oil, meets Nov. 27 to debate supply.

"We need to put policy on it. We need to put an order to it so we can do something regarding consumption."
14:01 GMT

"You need to do something about subsidies. Maybe a producing country can turn into a consumer country," Sabt said on the sidelines of an energy conference in Abu Dhabi.

“The Shah Gas Project is on track to commence production in 2014."
13:29 GMT

Adnoc, has so far invested $70 billion to develop new oil and gas fields and to boost the current output capacity of the UAE to 3.5 million barrels per day by 2017.