Oil & Energy
June 11, 2014
In November 2013, Iranian MP Hossein Sobhani-Nia said China had agreed to use $20 billion of blocked Iranian money to fund development projects in Iran to circumvent the international sanctions imposed on the country.
June 10, 2014
Last month, the OPEC member's government warned that spending outpaced revenues and this could lead to a budgetdeficit in 2017/2018 after years of surpluses.
June 9, 2014
In 2009, a joint Iran-Venezuela oil company was established to build a refinery in Syria with a capacity to refine 140,000 barrels of crude oil per day.
Iran plans to boost annual petrochemical output to 180 million tons from around 60 million tons currently.
June 8, 2014
The whole of the region will register a surplus equivalent to 16.7 per cent of its gross domestic product.
The central bank has managed investment of the kingdom's foreign currency reserves until now, much of it in US Treasury bonds.
A wave of protests at oil facilities has reduced the North African country’s oil output to less than 200,000 barrels a day down from 1.4 million bpd in July before the strikes started.
June 4, 2014
Emirates National Oil Company (ENOC) has won the Dubai Human Development Appreciation Award at the 2013 cycle of the Dubai Human Development Award (DHDA).
June 3, 2014
A total of $3.5 billion was realised by South Sudan from its crude oil sales between June 2013 and May this year, the country's petroleum and mining ministry announced.
ENOC Lubricants Marketing (ELM), the lubricants business division of ENOC Marketing, will highlight its range of premium solutions at Automechanika Dubai 2014.
June 2, 2014
Oman based OCTAL showcased its low-waste, high-performing, cost-effective and environmentally-conscious PET packaging material to over 175,000 high ranking visitors from 120 nations at Interpack, Europe’s leading packaging trade fair.
Oil revenues account for the lion's share of government income, and the authorities are seeking to dramatically ramp them up to fund much-needed reconstruction of Iraq's conflict-battered economy and infrastructure
May 29, 2014
Saudi Aramco said its downstream investments would exceed $100 billion over the next decade, as global demand for oil rises by a quarter in the next 25 years.
Emirates General Petroleum Corporation will participate in the Global No Smoking Day, on May 31st, 2014.
May 28, 2014
Brent crude, a benchmark for international oils, was up 13 cents to $110.15 on the ICE exchange in London.