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.

November 26, 2012

Dr. Rahma bin Mohamed Al Shamsi, Retail Sales Manager at Emarat, hands over the key to the winner’s representative
07:59 GMT

UAE national Moza Muftah Mansour won a Toyota 2013, the grand prize of the promotional campaign recently launched by Fasttrack for Vehicles Maintenance and Repair.

November 25, 2012

Hussain Abdullatif Al Balushi, General Manager, Omanoil
10:26 GMT
(press release)

Oman Oil Marketing Company (omanoil) recently appointed Hussain Abdullatif Al Balushi as Acting General Manager of Human Resources and Administration.

Adel Khalifah Al Shaer, planting the tree of the union in presence of senior officials from Emarat
06:36 GMT

HE Adel Khalifah Al Shaer, Acting Director General of Emirates General Petroleum Corporation "Emarat", planted the tree of the union in the yard of the Corporation's headquarters in Dubai.

Zoom Store in Dubai Metro
04:53 GMT
(press release)

Emirates National Oil Company is showcasing its retail franchising opportunities at the SIAL Middle East exhibition to be held at the Abu Dhabi National Exhibitions Company from November 26 to 28, 2012.

November 22, 2012

Egypt is to  compensate Jordan over disruptions to gas supplies
12:45 GMT

Egypt is compensating disrupted natural gas quantities to Jordan after several months of export troubles due to attacks on the Sinai-Egyptian pipeline that supplies natural gas to Jordan and Israel, a Jordanian official has said.

Jordan is attempting to liberalise it's fuel markets
11:44 GMT

As Jordan seeks to liberalise it's fuel markets, the country signed an agreement with French firms to supply oil products to forecourts across the country.

November 21, 2012

A bomb in Tel Aviv has sent oil prices up again
13:25 GMT

With the turmoil in the Middle East worsening, latest round of development being an explosion in a bus in Tel Aviv that injured at least 10 people, crude prices have climbed in a big way.

Gas prices dipping in Lebanon
10:23 GMT

Gasoline and fuel prices in Lebanon continued to decline Wednesday, falling by LL500, according to the country’s Energy and Water Resources Ministry.

EQUATE President & CEO Mohammad Husain
09:58 GMT
(press release)

EQUATE Petrochemical Company said that the global petrochemical industry was facing serious global challenges.

Demand for fuel in Jordan has dropped dramatically since the decision to lift subsidies
08:20 GMT

Following the Jordanian governments decision to lift subsidies on fuel products, demand for petroleum products has dropped sharply over the last few days, according to the Gas Station Owners Association.

November 20, 2012

Panic trading in the oil markets have caused prices to drop from previous one-month highs
12:02 GMT

As the Gaza conflict unfolds US Secretary of State Hillary Rodham Clinton has started talks with stake holders in Middle East. United Nations Secretary Ban Ki-moon is also expected to reach Israel Tuesday, causing a flurry of activity in the oil markets.

A well-placed UK insider on the Egypt-IMF talks says it'll be difficult, but necessary, for the Egypt to agree on the terms.
11:08 GMT

A well-positioned UK official close to the negotiations between the IMF and Egypt over a $4.8 billion loan deal reveals to Ahram Online that "The IMF wants economic reforms before it gives the money."

Fuel prices in Jordan will fluctuate in line with international costs
08:40 GMT

After days of protests across Jordan caused the the governments decision to increase the cost of petroleum products, it has been announced that fuel prices will be matched to market prices, which will see them fluctuate in line with international prices.

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

Emirates General Petroleum Corporation, pavilion at the Abu Dhabi Petroleum Exhibition and Conference this year, witnessed significant interest from a wide range of visitors.

Crescent Petroleum is set to expand its operations in Libya and Lebanon
03:00 GMT

UAE-based Crescent Petroleum is gearing up for expansion in the Iraqi oil and gas sector and a debut into Libya and Lebanon, its chief executive told Reuters.