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.

October 23, 2012

Iraq is planning to increase oil out put and move to renewable energy supplies for domestic needs
10:40 GMT

Iraq plans to spend up to $1.6 billion on solar and wind power stations over the next three years to add 400 megawatts (MW) to the national grid to help curb daily blackouts, an official from the ministry of electricity said.

OPEC is choosing its new boss in a meeting in Vienna
09:32 GMT

The governors of Organisation of Petroleum Exporting Countries (Opec) have gathered in Vienna to select a new secretary-general for the first time in six years, with four countries vying for the position.

October 22, 2012

Gas exports to Iran have been suspended after a blast on the Turkish side
13:09 GMT

Iran halted gas exports to Turkey after a blast damaged the pipeline in the Turkish territories, authorities announced on Monday.

October 21, 2012

During the signing
10:46 GMT
(press release)

Oman Oil Marketing Company has chosen Jawad Business Group’s one-stop auto-shop, Auto-o’s, to be the exclusive dealer of omanoil-branded lubricants in the Kingdom of Bahrain.

Non-Yemeni firms are becoming the driving force in the oil industry
10:15 GMT

Yemen has recently received a number of requests from Arab and foreign companies to invest in oil sector, Oil and Minerals Minister said on Saturday.

Tourist guides are planning a strike in November
09:07 GMT

Egypt’s tourist guides are planning for an open strike after stoppages 15-17 November, charging that the Ministry of Tourism has ignored their long-time demands, the state-run Arabic-language Al-Ahram news reported Saturday.

EBGDCo, NGL extraction plant
05:59 GMT
(press release)

Dana Gas announces that its joint-venture, the Egyptian Bahrain Gas Derivatives Company, EBGDCo, NGL extraction plant region has loaded its first propane cargo on 1 October, 2012.

Oil exports in the south of Iraq is set to increasing to record levels
05:00 GMT

Iraq's oil exports from its southern ports have risen by 120,000 barrels per day (bpd) so far in October versus last month, according to shipping data, suggesting the country is on course to reach its highest export rate in decades.

October 18, 2012

Iran looks set to take the EU to court over "illegal sanctions"
14:00 GMT

Iranian private oil firms are set to take the European Union to court after companies took issue with the new tougher sanctions, which they have described as "illegal", according to the state-backed Fars news agency.

Gas fields of Lebanon's coast could be potentially lucrative
13:46 GMT

Leading international oil firms will get first-hand information about the initial findings of Lebanon’s massive gas wealth under the sea during a meeting in London on Wednesday.

Egypt is set to announce details of an important gas auction
10:48 GMT

Egypt will soon announce details of an auction for the planned import of liquefied natural gas (LNG), in a move that will be rely heavily on the private sector, as the country seeks to import over 1 billion cubic feet of natural gas daily.

The US is holding a major naval exercise designed to keep oil supply routes open in the event of an Iran-Israel war
05:00 GMT

US Navy officials in Bahrain have hit back at criticism of a major mine-sweeping exercise in the Gulf designed to show global will to keep oil shipping lanes open as Israel and Iran trade threats of war.

October 17, 2012

Facebook winners
09:58 GMT
(press release)

Oman Oil Marketing Company (omanoil) awarded an iPad 3 and iPhone 5 to two lucky Facebook competition winners as part of its Customer Service Week celebrations.

Lebanon looking set to use wind as a new form of energy
08:21 GMT

Lebanon is looking set to invest heavily in wind farms, with twenty-three local and international companies submitting declarations of intent for building wind farms, the Energy and Water Ministry said Tuesday.

During the event
07:34 GMT
(press release)

Kuwait Energy’s Chief Executive Officer Sara Akbar joined top female leaders at the 4th Congress of Women in Warsaw, Poland.