Oil & Energy

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It's all doom and gloom for the Gulfi dream as the GCC are bracing for tough times with vital oil revenues falling rapidly. (Image: Gulf man expreses grief via Shutterstock)
December 24, 2014 - 10:38 GMT
Gulf countries are bracing for tough times as vital oil revenues fall and after they missed a golden opportunity to diversify their economies in a decade of unprecedented windfalls, analysts say.

November 5, 2013

EQUATE President and CEO Mohammad Husain with PACI Deputy Director General Mansour Al-Methen
07:40 GMT
(press release)

EQUATE and the Public Authority for Civil Information launched self-service kiosks for company employees to issue human resources (HR) certificates by using the Smart Civil ID.

November 4, 2013

ENOC Protec Green
08:31 GMT
(press release)

ENOC Lubricants, the lubricants business division of Emirates National Oil Company (ENOC), will showcase its Protec range of environment-friendly synthetic engine oils at the Dubai International Motor Show.

November 3, 2013

Burhan Al Hashemi of ENOC and Lisa Ruddock of Al Hamra Village inaugurate the first ZOOM Mart in Royal Breeze 1, Al Hamra Village, Ras Al Khaimah
05:11 GMT
(press release)

Emirates National Oil Company (ENOC) today unveiled its first ZOOM Mart, a home-grown 24-hour neighbourhood grocery, in Royal Breeze 1, a residential community in Al Hamra Village, Ras Al Khaimah.

October 31, 2013

India is among Asia’s major importers of energy and relies on the Islamic Republic of Iran to meet a portion of its energy demands.
11:07 GMT

On Sunday, Iran’s Oil Minister Bijan Namdar Zanganeh said that serious plans were on the agenda to boost the country’s oil exports by four times.

During the event
07:57 GMT
(press release)

Ahmad Bin Hamad Al Nuaimi, Chief Executive & General Manager of Arab Petroleum Investments Corporation (APICORP), was presented the ‘Newsmaker of the Year’ award by Lloyd’s List.

Dubai Electricity and Water Authority
04:42 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) launched the first initiative of its kind in the Middle East, called Strategy Pioneers.

October 30, 2013

Iran was one of the top five suppliers of crude oil to China this year and overall production increased, the Organization of Petroleum Exporting Countries said in its monthly market report.
13:42 GMT

In this line, Iranian parliament speaker Ali Larijani traveled to China on Tuesday to discuss mechanisms for paying the debt.

Oil Minister Bijan Zanganeh ordered a "widespread review" of the oil contract process shortly after he took office in August in an effort to revive investment in Iran's oil sector (Courtesy of Press TV)
07:11 GMT

Iran's oil ministry will produce a new framework for contract agreements, including oil production sharing, within the next six months to encourage the return of foreign energy investment.

October 29, 2013

“The Kingdom is the largest producer of oil, while China is the second largest country in the world, which has a great energy demand,” Al-Suwaiyel said.
12:10 GMT

There is thus a strong need for the two countries to enhance their cooperation to develop scientific and applied research in oil refining and renewable sources for mutual benefits, he said.

The loss of Egyptian gas supplies, which used to account for over 80 per cent of Jordan’s electricity generation needs, has driven generation costs to over 187 fils per kilowatt hour (kw/h).
10:56 GMT

Ongoing cuts in Jordan’s Egyptian gas supplies are set to cost the country over $2 billion by the end of the year, officials revealed on Monday, calling for greater efforts to diversify the country’s energy mix.

“This is a licensed technology that has a proven safety record in several European countries and elsewhere, which was important in our decision,” Toukan said.
08:43 GMT

According to Toukan, the government will seek out local public and private investors to take part in a joint utility and shareholding company to be established by the government and Rosatom to maintain the reactors as a “Jordanian national venture”.

October 28, 2013

Engr. Omar bin Ahmed Qatan, Oman Oil Marketing Company CEO
05:03 GMT
(press release)

Oman Oil Marketing Company (omanoil) has launched its own brand of lubricants in the Sultanate of Oman as part of its strategy to diversify the petroleum industry.

October 27, 2013

The London-based bank can help increase Jordanian businesses’ use of renewable energy.Describing the Kingdom as a role model for social and economic reform in the region, Harmgart added that Jordan can become a leader in terms of innovation and economic transition.
09:20 GMT

The bank’s activities in Jordan will focus on overall economic growth, developing the private sector, promoting energy efficiency, supporting renewable energy, and improving infrastructure and municipal services

October 23, 2013

Saeed Mohammed Al Tayer, MD and CEO of DEWA
12:55 GMT

A delegation from Dubai Electricity and Water Authority headed by HE Saeed Mohammed Al Tayer is visiting South Africa to discuss ways to enhance cooperation and exchange of expertise in various fields of energy.

October 21, 2013

Oil-rich Arab states Saudi Arabia and the United Arab Emirates are keen on delivering petroleum products to the Egyptian government as scheduled.
11:47 GMT

Egypt’s petroleum products supply is sufficient until the end of the current year due to Arab Gulf aid and available funds for imports, state-owned Al-Ahram daily newspaper reported Sunday.