Oil & Energy

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Instability and civil wars in the MENA region had a recent impart on oil supplies and demand (File/AFP)
According to a report, oil supply growth will reduce over the next 18 months. This comes with many risks. Why is the Middle East's oil industry experiencing a downfall?

September 26, 2012

During the event
09:52 GMT
(press release)

Oman Oil Marketing Company recognized employees who achieved the best personal health record and lost the most weight as the internal health awareness program, ‘I Promise’, came to a successful conclusion.

September 25, 2012

Libya has oil reserves that are waiting for development, but no new contracts are out for tender
13:45 GMT

Significant oil and natural gas discoveries are waiting to be developed in Libya though no new bidding rounds are expected soon, an executive said from Tripoli.

Off the Gaza coast, Palestine is looking set to develop natural gas
11:09 GMT

The Palestinian Authority (PA) has entered negotiations with Israel, seeking permission to develop natural gas off the Gazan coast in the Mediterranean Sea. The negotiations are sponsored by former British Prime Minister Tony Blair who is now the envoy for the Quartet of Middle East Peace brokers

The USA and France are planing oil and gas explorations in Yemen
10:57 GMT

Companies from the USA and France are looking at oil-exploration in the conflict ridden republic. The US has said that it's support for Yemen will extend beyond oil, to help achieve "political and economic stability".

Mr. Abdulrahman Qassim Al Ali, Commercial Sales Manager at Emarat and Chairman of Emojet
07:32 GMT

Emojet, the joint venture between Emirates General Petroleum Corporation "Emarat" and Exxon Mobil, won the Golden Aviation Wings Award, as the best airports operator in Europe, Africa and the Middle East for 2011.

September 24, 2012

Oil remains a contentious issue in South Sudan, making a pledge to break up a massive oil block largely held by French company Total
10:49 GMT

South Sudan will split a massive oil block largely held by Total into three parts, giving one to the French company and the others to two firms, officials said, in the biggest shake-up of the nation’s concessions since it seceded from Sudan.

Is solar the new oil for the Saudi Kingdom?
09:33 GMT

As a country having one of the most heated summers ever recorded on the planet, the Kingdom of Saudi Arabia is now hailed as one of the world’s top solar power producers of clean energy.

Tareq Khaled Khouri, Second Place
05:54 GMT
(press release)

Fourteen distinguished employees were recognised at the Dubai Electricity and Water Authority’s Excellence Awards of Q2 2012.

September 23, 2012

Iran's oil output is expected to remain stable
14:36 GMT

Iranian Oil Minister Rostam Qassemi said Iran's crude oil production will remain steady this year compared to the last year.

Sayonara Saudi Electricity Company? Kingdom plans to privatise electricity sector
12:59 GMT

Saudi Arabia plans to privatise its electricity sector by 2014, according to reports. This is in line with plans to reduce the level of state involvement within the energy industry.

Will shale gas drive the Tunisian economy forward?
12:41 GMT

Tunisia is considering producing shale gas in an effort to cope with rising demand coupled with a drop in traditional oil stock, although the Industry Ministry has denied claims that permits have already been granted.

Oil firms risk the wrath of Baghdad as planned explorations in Kurdistan increase
11:31 GMT

Royal Dutch Shell is exploring possibilities in Iraqi Kurdistan, sources said, having seen rivals Exxon Mobil and Total risk Baghdad's wrath by moving into autonomous northern region while developing major oilfields in the south.

Will Qatar fuel Egypt's future?
11:26 GMT

Egypt and Qatar are set to sign a gas-importing contracting that would see 400-500 million cubic feet of liquefied gas imported, in an effort to deal with current levels of disruption.

September 20, 2012

Khaldoun Tabari, CEO of Drake & Scull International
08:36 GMT
(press release)

Drake & Scull International announced that it has been awarded in collaboration with Sicim spa of Italy a AED 1.314 billion Engineering, Procurement and Construction contract.

September 19, 2012

Crude oil.
10:55 GMT

Saudi Arabia is taking action to reduce the price of oil by pumping about 10 million barrels a day of crude and will produce more if customers demand it.