Oil & Energy

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if Opec wants to do a quick fix it could agree on a sharp reduction in output until a balance between supply and demand has been re-established.
November 26, 2014 - 12:17 GMT
Cutting production by significantly more than the 0.5 to 1 million barrels, which is currently expected, may help trigger a rally in the market.

December 26, 2012

Iran is planning a military exercise for the Strait of Hormuz
12:26 GMT

Iran is planning naval maneuvers in international waters near strategic Strait of Hormuz, where one-fifth of world oil supply passes.

Iraq's semi-autonomous Kurdish region has halted oil exports due to a row over payments
12:14 GMT

An Iraqi Kurdish official said on Tuesday that the country’s self-ruled northern Kurdish region has suspended oil exports over a payment row with Baghdad, a development that could add to already souring relations between the Kurds and the Arab-led central government.

Kuwait's oil exports to South Korea are booming
11:46 GMT

Kuwait's crude oil exports to South Korea in November surged 74.4 percent from a year earlier to 14.06 million barrels, or 469,000 barrels per day (bpd), latest data released by the state-run Korea National Oil Corporation showed.

Gas prices in Lebanon are continuing an upwards trend
09:59 GMT

Gasoline prices in Lebanon continued to rise slowly for the fourth week Wednesday, the weekly price update shows.

EQUATE President & CEO Mohammad Husain With Honored Students
05:42 GMT
(press release)

EQUATE Petrochemical Company hosted a ceremony to honor the educational achievements of over 40 of its employees’ children.

December 24, 2012

Iran claims it has managed to bypass Western sanctions on its oil industry
11:27 GMT

Iranian authorities have claimed that the country has successfully circumvented sanctions on the sale of its oil.

Egypt is to increase the cost of fuel, the Minister of Petroleum and Mineral resources has announced.
10:43 GMT

Prices of fuel oil will be gradually increased during the coming period in consultation with the concerned ministers, Egypt's Minister of Petroleum and Mineral Resources said on Sunday.

EQUATE Booth Hosting Minister Al-Ibrahim during KSE Forum
09:00 GMT
(press release)

EQUATE Petrochemical Company sponsored the Kuwait Society of Engineers First Engineering Initiatives Forum under the patronage of His Highness the Crown Prince Sheikh Nawaf al-Ahmad Al-Jaber Al-Sabah.

December 23, 2012

Political instability in the MENA region will be one of the key determinants of oil prices in 2013, Barclays say
12:40 GMT

The key determinant for oil prices in 2013 will Iraq and Syria, analysts suggest.

EQUATE 2012 booklet
08:58 GMT
(press release)

EQUATE Petrochemical Company has issued its 2012 booklet which highlights the company’s overall achievements.

Oil output in Iraq wil reach 3.2 million barrels a day in December
08:07 GMT

Iraqi crude production will exceed 3.2 million barrels a day in December, Iraqi Oil Minister Abdul Kareem al-Luaibi said in Cairo.

During the ceremony
07:25 GMT
(press release)

ENOC Aviation received a 10-year strategic partner award from International Air Transport Association (IATA).

Bahrain is set to review fuel subsidies, which are expected to cost the government  almost BD1 billion ($2.637 billion) a year
07:23 GMT

As fuel subsidies come into focus across the region, Bahrain is to review the spending on them, which are expected to cost the treasury BD1 billion ($2.637 billion) a year by 2014.

December 20, 2012

Jordan and Iraq are to discuss the construction of new oil and gas pipes next week
09:51 GMT

Iraq and Jordan are set to discuss increased the establishment of a new oil and gas lines between the two countries.

Saudi Arabia has signed new contracts to boost energy and water production in the Kingdom
08:44 GMT

Saudi Arabia has signed new contracts for water and power to boost supply to Madinah and Yanbu, in a deal worth $4 billion.