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 19, 2012

Global electricity demand is set to shoot up by 70 per cent
12:11 GMT

The global demand for electricity could rise by over 70 per cent between 2010 and 2035 driven largely by rising demand from emerging economies, the International Energy Agency (IEA) said.

Saif Al Falasi, ENOC’s Executive Director for EHSQ and Corporate Affairs at the conference
09:11 GMT
(press release)

Emirates National Oil Company (ENOC) organised the 4th annual Occupational Health Conference recently at the Al Murooj Rotana Hotel in Dubai.

Is nuclear the future in the Saudi kingdom?
05:00 GMT

Diesel and gas power stations throughout Saudi Arabia will gradually be replaced by nuclear generators over the next decade as the country develops greener sources of energy, it has been announced.

November 18, 2012

Egypt to increase gas supply from Algeria
12:31 GMT

The Egyptian government has negotiated with Algerian petroleum company SONATRACH to increase its butane gas imports from the country to one million tonnes per year, state-run daily Al-Ahram reported on Thursday.

November 15, 2012

Lebanon and Iran set to discuss trade ties
14:44 GMT

nian Energy Minister Majid Namjoo arrived Thursday in Beirut to discuss previously signed cooperation agreements between Lebanon and Iran.

Oil prices stable despite Middle East violence
11:33 GMT

Crude oil prices have started bouncing back from lows due to geo political tensions in the Middle East even as increasing US inventory weaker demand for oil growth estimated by OPEC may curb upside gains in prices.

Public transport and taxi fares are set to increase in Jordan
01:00 GMT

Public transport fares are to rise in Jordan after the government increased the cost of fuel and gas on Tuesday. Prices will go up by as much as 11 per cent although the taxi drivers union has urged increase of up to 20 per cent.

November 14, 2012

The IEA has said that oil demand will drop of this quarter due to the European economy and Hurricane Sandy
10:44 GMT

The International Energy Agency (IEA) lowered its world oil-demand forecast for this quarter for a second time, citing weakness in Europe's economy and disruption to US fuel delivery and travel by Hurricane Sandy.

ENOC receives Asian Leadership Awards
07:35 GMT
(press release)

Emirates National Oil Company has won two prestigious awards for its outstanding achievement in branding at the Asian Leadership Awards, which honours distinguished leaders and businesses in Asia.

Jordan's Prime Minister had previously tried to calm fears over price rises
01:00 GMT

Jordan's Cabinet finally confirmed on Tuesday that it will reduce subsidies on fuel products, as it seeks to reduce its deficit. The biggest increase will be on the cost of cooking gas, which will rise to JD10 from JD6.5.

November 13, 2012

Demand for oil is set to increase, the International Energy Agency has stated
12:47 GMT

The global thirst for oil will grow in the next two decades driven by demand from so-called 'emerging nations' and the rise of the US as the top producer, the International Energy Agency said yesterday.

Jordan is looking set to increase the cost of electricity in the Kingdom
11:23 GMT

Jordan's government is set to increase the price of electricity by 18 per cent over a two-year period, as the country seeks to deal with its growing budget deficit.

Castrol Award OOMCO
10:53 GMT
(press release)

Castrol Energy recently recognized Oman Oil Marketing Company (omanoil) for excellent performance and commitment to safety when supplying Castrol lubricants to Oman’s land rigs.

Abu Dhabi is seeking to increase oil production
06:43 GMT

Abu Dhabi’s Supreme Petroleum Council, the country’s highest oil authority, has instructed operating companies to seek ways of raising production, Abu Dhabi International Petroleum Exhibition and Conference (Adipec) said in a statement.

Dubai Electricity and Water Authority
04:44 GMT
(press release)

HE Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority, said that DEWA remains focused on the sustainability of its resources.