Oil & Energy

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For now, however, the US-led surge in supply and weak demand have seen traders start to store additional barrels as they wait for prices to recover.
September 14, 2014 - 04:55 GMT
The drop in oil prices to their lowest in two years has caught many observers off guard, coming against a backdrop of the worst violence in Iraq this decade, heightened tensions between the West and Russia, and sanctions against Iran.

December 20, 2012

During the signing
04:28 GMT

Aspire Zone Foundation (AZF) and RasGas Company Limited (RasGas) have announced their co-operation in Aspire Zone Foundation’s brand new step into health program.

Coal is set to surpass oil as the world’s top fuel within a decade,  according to a new report
03:00 GMT

Coal is set to surpass oil as the world’s top fuel within a decade, driven by growth in emerging market giants China and India, with even Europe finding it hard to cut use despite pollution concerns, according to a report.

December 19, 2012

During the signing ceremony
11:20 GMT
(press release)

A signing ceremony took place today for a Memorandum of Understanding between the Dubai Electricity and Water Authority and the International Renewable Energy Agency in the Grand Hyatt, Dubai.

Honorees in a group picture with Abdullah Hassan Al Noman
06:45 GMT

Emirates General Petroleum Corporation "Emarat" recently organized a ceremony for Emarat's stations supervisors in appreciation of their substantial efforts in supervising the service stations.

December 18, 2012

During the event
10:20 GMT
(press release)

The Oman Economic Review’s Top 20 has recognized Oman Oil Marketing Company (omanoil) as one of the largest oil and gas companies listed on the Muscat Securities Market in 2011.

International sanction on Iran are hitting the oil Islamic Republic's oil industry
09:38 GMT

The Iranian government has conceded that it is losing half of its oil revenues due to international sanctions imposed over its disputed nuclear programme.

Mohammad Al Benali receiving the award
07:23 GMT

EQUATE Petrochemical Company received the Corporate Social Responsibility (CSR) 2012 Award during the third annual Oil & Gas Middle East Awards ceremony.

December 17, 2012

A top oil trader has apologised to Baghdad are buy oil from the semi-autonomous Kurdish region
09:56 GMT

Oil trader Vitol has apologised to the Iraqi government for buying Kurdish oil, via Turkey, without Baghdad's permission as capital and temi-autonomous region battle over oil and gas rights in the northern province.

December 16, 2012

A gas pipeline has been attacked in Yemen
12:05 GMT

A gas pipeline was blown-up last night, according to a statement by operators Yemen LNG.

December 13, 2012

OPEC has decided to maintain current oil output levels
08:35 GMT

The Organisation of Petroleum Exporting Countries (OPEC) has decided to maintain current oil output levels, after reviewing market data for 2013.

Mr. Abdulla Hassan Al Noman, Manager, Retail Sales Operations at Emarat
05:35 GMT

The Retail Sales Department at Emarat recently organized 3 Sport championships for the employees at its service stations.

December 12, 2012

Lebanon's Petrolab has said it will seek Lebanese workers for oil and gas exploration
11:00 GMT

Petrolab announced that it intends to hire Lebanese oil and gas professionals as it plans to form partnerships with companies to bid for offshore petroleum exploration and production contracts in Lebanon.

Libya could be set for more oil exploration
08:02 GMT

Libya is looking set for a new round of oil exploration deal, although the current target is to maintain output, which is slightly higher than expected.

December 11, 2012

Countries like Iran say that OPEC should bring down production as demand has come down in Western nations
20:49 GMT

Markets, are turning their eyes to Vienna where an OPEC meet is scheduled Wednesday 12 December that will addresses crude oil performance.

Iran holds the world's third-largest proven oil reserves and the second-largest natural gas reserves
13:43 GMT

The Iranian Oil Ministry reportedly plans to establish a refinery near the Caspian Sea and feed it by crude oil which is derived from the sea.