Oil & Energy

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Oil prices have been falling – and plummeting, spiraling, nose-diving and just generally heading downwards – over the past few months.
December 17, 2014 - 04:55 GMT
Here is a look at three of the Middle East’s most affected economies – some of which are already on the brink of a serious crisis.

February 4, 2013

Despite defaulting on an Islamic bond last year, Dana Gas, has posted a 20 per cent rise in profits
12:06 GMT

Dana Gas, the Abu Dhabi-listed energy firm which defaulted on an Islamic bond, said yesterday its full-year net profit for 2012 rose 20 per cent on the back of higher oil prices and lower costs says Reuters.

Fuel demand in Jordan is creeping up despite the government raising the prices in November last year
08:40 GMT

Jordanians’ consumption of oil derivatives in 2012 increased by 6.5 per cent compared with the previous year despite an increase in fuel prices, according to the Gas Stations Owners Association (GSOA).

February 3, 2013

During the event
04:34 GMT
(press release)

Oman Oil Marketing Company (omanoil) celebrated its outstanding employees for their commitment to first-rate customer care at the third annual CEO Award of Excellence.

January 31, 2013

Iran has asked for international help over a sunken gas rig in the South Pars gad field (file photo)
12:45 GMT

Iran has called for international help to recover a $40 million gas rig from the Gulf seabed, Mehr news agency reported.

Kuwaiti crude oil prices were up in yesterday's trading
11:16 GMT

The cost of a barrel Kuwaiti crude oil edged up on Wednesday, selling for almost $110, according to a bulletin from the national petroleum corporation.

January 30, 2013

Saeed Mohammed Al Tayer, MD and CEO of DEWA
11:07 GMT
(press release)

Dubai Electricity and Water Authority has become the first utility in the Middle East and North Africa to launch an application that is compatible with the Microsoft Windows 8 operating system.

Mehr news reported on Tuesday that BP had been dumping byproducts in the sea.
08:44 GMT

Iran said it could move to sue BP over an oil spill last year at the Azeri-Chirag-Gunashli oil platform it operates after oil from the spill washed up on Iranian beaches

A rising energy bill does not bode well for the Kingdom, which has seen protests over fuel price increases in recent months.
08:13 GMT

At the end of November last year, the country’s total exports recorded a drop by 1.7 per cent.

January 29, 2013

Jordan's main energy supply from Egypt has been disrupted again, causing a dramatic reduction in gas supplies
06:57 GMT

Jordan’s Egyptian gas supplies have dropped to one-third of their normal levels, officials say, prompting fresh concern over the security of the country’s primary energy source.

January 28, 2013

Iran is to halt oil and gas export to Europe, a spokesman for the Iranian Oil Ministry said.
13:34 GMT

Iran is cutting off oil and natural gas exports to European countries until further notice, a spokesman for the Iranian Oil Ministry said.

Libya has announced its gasoline suppliers for 2013 as the country lacks sufficient refining capacities
12:46 GMT

Libya's National Oil Corporation (NOC) has chosen its gas suppliers for 2013 as the country doesn't have enough refining capacity to meet national demand.

Kuwait and Iraq have signed an oil exploration deal for the 'Block 9' area of Basra
12:17 GMT

Kuwait and Iraq have signed a deal for oil exploration, development and production in Basra's so-called "Block 9" area.

Iran denies there was an explosion at the Fordow nuclear facility
09:00 GMT

A former Iranian official has said there was an explosion at an nuclear facility in the country, a claim that the Islamic Republic strongly denies.

Duke University Visit
08:58 GMT
(press release)

Senior executives from Emirates National Oil Company received 40 students from Duke University, who are on a Cross Continent programme as part of their MBA course.

Protesters attacked an electricity company in Port Said, with one building catching fire, according to reports.
03:00 GMT

Hundreds of angry Egyptian protesters threw stones towards Canal Company for Electricity Distribution branch in the Suez Canal area in Port Said coastal city. One of the buildings of the company caught fire, ONTV reporter said on Saturday.