Oil & Energy

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Reorganizing the shipments thanks to delayed efforts to secure a terminal will add to headaches.
July 11, 2014 - 03:16 GMT
Egypt has missed a window to avert gas shortages this year as plans to secure a floating import terminal from a Norwegian firm hit snags.

May 23, 2013

West Texas Intermediate (WTI) fared a little better
11:00 GMT

Crude oil prices fell below $100 for the first time since mid-2012 in April on seasonal factors and softening market fundamentals. This was followed by a small rebound in early May, according to NBK’s latest Economic Update.

Mr. Abdulla Hassan Al Noman, Manager, Retail Sales Operations at Emarat
06:06 GMT

Emarat has launched a new promotional offer, giving its customers a chance to get a discount of AED 20 on the steam Wash for their vehicles, at any service station that provides this service.

May 22, 2013

Chevron is the second largest oil company in US
13:23 GMT

Chevron Corp is in advanced talks to sell most of its downstream assets in Egypt and Pakistan, three sources said, with the planned disposals seen raising around $300 million for the U.S. oil major.

Kuwaiti Parliament
11:19 GMT

A number of MPs expressed mixed reactions over the massive reshuffle on Monday in the oil sector, with some welcoming it and others strongly criticizing it as politically-motivated, while the opposition made no reaction to the changes.

During the event
08:49 GMT
(press release)

Oman based OCTAL, the world’s largest producer of PET resin and sheet on a single site, has won the highly acclaimed and sought after GCC ‘Mashreq Oil and Gas Project of the Year’ award.

Mr. Ahmad Ayyash, Fasttrack General Manager
06:32 GMT

Fasttrack in cooperation with Tibra General Trading Company, has started installing speed limiter devices in the vehicles subject to the Ministerial Cabinet’s Resolution no. 6 of 2011.

May 21, 2013

Brent crude rose 16 cents to $104.80 a barrel
11:46 GMT

Benchmark oil for June delivery gained 69 cents to close at $96.71 a barrel on the New York Mercantile Exchange.

Dubai Electricity and Water Authority (DEWA)
05:00 GMT

Dubai: Dubai Electricity and Water Authority’s conservation initiative saved Dh16 million in electricity and water, it was announced at the eighth Conservation Award for the educational sector.

May 20, 2013

Emirates National Oil Company
12:45 GMT
(press release)

Tasjeel rewards its customers with the launch of a two-month long ‘Weekly Cash Carnival’ promotion.

The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen at the headquarters building in Vienna on April 4, 2013 (ALEXANDER KLEIN/AFP/Getty Images)
11:51 GMT

The Organization of the Petroleum Exporting Countries (Opec) will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in the rest of the year.

Non-oil GDP rose to an expected 6.7pc in 2012
10:40 GMT

Bahrain's real gross domestic product (GDP) is estimated to have expanded 3.9 per cent last year from the 1.9pc growth seen in 2011.

May 16, 2013

Mr. Abdulla Hassan Al Noman, Manager, Retail Sales Operations at Emarat
07:13 GMT

Emirates General Petroleum Corporation has launched a new “Spend & Win” promotional campaign to offer shoppers at its various service stations the chance to win valuable prizes.

May 15, 2013

Masdar
12:28 GMT
(press release)

Masdar and the Export Import Bank of the United States signed a Memorandum of Understanding in which they will explore opportunities to structure and deploy up to $ 2bn worth of Ex-Im Bank’s finance supporting U.S. exports to Masdar’s future projects.

 UAE researchers discover biodiesel to run motor engines
10:31 GMT

UAE researchers have discovered the oil extracted from microalgae as a promising alternative to diesel, saying it can run motor engines effectively without any modifications.

The group’s net production averaged 61,400 barrels of oil
10:27 GMT

Revenue from the sale of hydrocarbons during the period was Dh557 million ($152 million).