Oil & Energy

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“The region between Iraq and Syria has emerged as the ideal black market to sell the oil as the territory is under their control,” he said.
August 24, 2014 - 20:52 GMT
The oil being sold by Isil ranges between $25 (Dh91.75) per barrel to $60 per barrel compared to the current market prices, which on Friday traded for about $102 for Brent crude.

June 16, 2014

Oman oil visit
05:25 GMT
(press release)

Employees from Oman Oil Company and its group of companies recently visited the Association of Early Intervention for Children with Disabilities in Muscat and Al Noor Association for the Blind in Sohar.

Escalating violence in Iraq drove crude oil and the dollar higher on Friday while damping the appetite for global equity markets, even as bullish news from the US tech sector lifted stocks on Wall Street.
03:55 GMT

Brent crude edged above $113 a barrel, up more than $4 this week, on concerns that an insurgency in Iraq could trigger civil war and eventually crimp oil exports.

June 15, 2014

The OPEC meetings since 2012 have produced no policy change.
19:45 GMT

Saudi Arabia has suggested OPEC meet just once a year, rather than twice, a sharp reduction from the days when the group met for up to seven times a year in the early 2000s.

Mr. Hussain Kazim, Manager Corporate Communications at Emarat
07:20 GMT

Emirates General Petroleum Corporation "Emarat" is collaborating with Dubai Roads and Transportation Authority (RTA) in order to promote safe driving for motorist on long routes, with emphasis on customer who travel from Dubai to Saudi Arabia.

June 12, 2014

During the event
05:25 GMT
(press release)

ENOC staff members marked Hag El Leila, the traditional Emirati festival, by visiting the Rashid Centre for Disabled to distribute sweets to the children.

June 11, 2014

Emirati entrepreneur and motivational speaker Hala Kazim presents her guest lecture on ‘How to Love Yourself’ for ENOC’s Emirati staff members
05:25 GMT
(press release)

The Competency & Career Development unit, within the Group Human Resources Department at Emirates National Oil Company (ENOC), organised a seminar on ‘Self-development’.

Iran plans to boost annual petrochemical output to 180 million tons from around 60 million tons currently.
04:55 GMT

In November 2013, Iranian MP Hossein Sobhani-Nia said China had agreed to use $20 billion of blocked Iranian money to fund development projects in Iran to circumvent the international sanctions imposed on the country.

June 10, 2014

The Gulf state is also revising subsidies on electricity, water and petrol, currently sold at well below cost.
09:34 GMT

Last month, the OPEC member's government warned that spending outpaced revenues and this could lead to a budgetdeficit in 2017/2018 after years of surpluses.

June 9, 2014

Although the plans for the construction operations have actually been suspended, the contracts have not been cancelled.
14:32 GMT

In 2009, a joint Iran-Venezuela oil company was established to build a refinery in Syria with a capacity to refine 140,000 barrels of crude oil per day.

“The finance required to implement the projects is planned to be secured through attracting foreign investment,” he added.
13:49 GMT

Iran plans to boost annual petrochemical output to 180 million tons from around 60 million tons currently.

June 8, 2014

The GCC’s situation is quite unique at the global level.
12:23 GMT

The whole of the region will register a surplus equivalent to 16.7 per cent of its gross domestic product.

The report gave no indication of whether any change in investment strategy was envisioned.
12:15 GMT

The central bank has managed investment of the kingdom's foreign currency reserves until now, much of it in US Treasury bonds.

Alkari said Libya was currently earning around $1 billion each month in oil revenues, having brought in between $4 billion and $5 billion a month before the oil protests started.
12:07 GMT

A wave of protests at oil facilities has reduced the North African country’s oil output to less than 200,000 barrels a day down from 1.4 million bpd in July before the strikes started.

June 4, 2014

His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council presents the Dubai Human Development Appreciation Award to Saeed Khoory, Chief Executive Officer of ENOC at the Business Excellence Awards 2014
12:59 GMT
(press release)

Emirates National Oil Company (ENOC) has won the Dubai Human Development Appreciation Award at the 2013 cycle of the Dubai Human Development Award (DHDA).

June 3, 2014

South Sudan's oil is exported through Sudanese pipelines and this generates revenues
11:21 GMT

A total of $3.5 billion was realised by South Sudan from its crude oil sales between June 2013 and May this year, the country's petroleum and mining ministry announced.