Oil & Energy
February 25, 2013
The Austrian oil and gas company OMV, which is part-owned by Abu Dhabi, posted a 25 per cent jump in revenues after reviving production in Libya that had been wiped out during the 2011 uprising that ousted the Gaddafi regime from power.
Emirates General Petroleum Corporation "Emarat" honored 34 employees at its stations in Dubai and the Northern Emirates who have been working for 10 years or more.
Jordan and Iraq are expected to sign commercial and legal agreements this month to build a double pipeline to supply the Kingdom with crude oil and natural gas. The oil deal promise to be the biggest inter-Arab business deal in 50 years.
February 24, 2013
Coming out of denial, Iran's President admits to facing economic difficulties in a rare televised acknowledgement.
Russia's largest independent natural gas producer, Novatek, decided to exit the Egyptian market and end its production activities due to the country's political instability and the deteriorating security conditions, says Anatoliy Chomachka, a diplomatic representative at the Russian embassy in Cairo.
February 21, 2013
Israel has awarded its first license to drill for oil on the occupied Golan Heights to a US energy company, industry sources said on Thursday.
Yemen’s Ministry of Electricity started installing new prepaid electricity meters for residents last week, as well as government institutions, as an alternative for old meters where customers were billed later.
Jordan's Energy Minister on Wednesday unveiled plans for the country’s first private sector renewable energy projects as part of efforts to ease the Kingdom’s ongoing energy crunch.
Jordan’s sole potash producer on Wednesday denied that the company was in talks with Israeli firms on importing natural gas.
The Dubai government has no intention to privatise the electricity and water sector, Shaikh Hamdan Bin Rashid Al Maktoum, President of Dubai Electricity and Water Authority (Dewa), told the media on Tuesday.
February 20, 2013
Emirates National Oil Company is exploring the option of introducing self-service for fuel refilling across the ENOC network of stations, by initially providing the service during late-night operating hours from 12 midnight to 6am.
The last-minute decision by Jordan's government to cancel winter time resulted in saving the Kingdom $7 million over the course of darker months, Energy Minister Alaa Batayneh said on Tuesday.
The gas facility at the centre of the Algerian hostage crisis in January will resume production by February 24, state media reported on Monday.
Kuwait Energy announced an update on its financial and corporate activities during its fourth quarter.
February 19, 2013
Egypt will begin to reduce fuel subsidies in April, the country's minister of petroleum and mineral resources said on Monday.