Oil & Energy

Featured Story:

 Lower oil prices and Western financial sanctions imposed over the Ukraine crisis will cost Russia around $130-140 billion a year.
November 25, 2014 - 21:20 GMT
“We’re losing around $40 billion a year because of geopolitical sanctions."

December 6, 2012

Turkey should avoid any sanctions slapped on Iran
09:43 GMT

The United States should exempt Turkey from new sanctions it is contemplating against Iran over its disputed nuclear programme, the Turkish energy minister was quoted as saying by the local media yesterday.

December 5, 2012

OPec boss Abdullah Al-Badri has said that oil supply remains at comfortable levels
10:33 GMT

Global oil supplies are comfortable, OPEC secretary general Abdullah Al-Badri said ahead of the oil exporting group’s meeting in Vienna next week.

Ibrahim Al Tamimi with the members of the Kuwaiti delegation in the presence of Abdul Rahman Qassim Al Ali and Mohamed Ibrahim
09:07 GMT

Mr. Ibrahim Yacoob Al Tamimi, Terminals & Logistics Manager at Emarat, during a meeting held with a delegation from the Kuwait Petroleum Corporation discussed the ways to enhance cooperation ties between the two companies.

December 4, 2012

Lebanon's economic maritime borders are 'non negotiable' according to a Lebanese MP
12:49 GMT

A Lebanese Member of Parliament, Mohammad Kabbani has said that economic maritime borders are not up for negotiation. The issue is contentious as the zone is reported to have large supplie of lucrative natural gas.

Oman is set to hit new highs in oil output
12:13 GMT

Petroleum Development Oman (PDO) will this year post its highest ever annual production of oil and gas, at 1.25mn barrels of oil equivalent (BOE).

Turkey will continue to import gas from Iran
10:38 GMT

Turkey's Prime Minister has been quoted as saying that it will continue to import gas from Iran, despite sanctions against the Islamic Republic.

Oil output in the UAE dropped slightly in October, according to the International Energy Agency
07:22 GMT

The UAE, on average, produced 2.67 million barrels per day (bpd) in October, 0.74 per cent lower than its output in September, latest data from the Paris-based International Energy Agency (IEA) showed.

During the celebration
06:13 GMT

The headquarters of Emirates General Petroleum Corporation "Emarat" has been adorned with beautiful decorations, colorful lighting and flags in celebration of the UAE's 41th national day.

December 3, 2012

Political instability and protests are putting of investors in the Libyan oil game
09:15 GMT

A year after oil firms jockeyed to secure the first deals in post-war Libya, political disorder and a large surplus of oil in Europe have sapped enthusiasm ahead of talks for 2013 contracts worth around $50 billion.

Iran needs to increase oil production in the Gulf in response to sanctions
09:02 GMT

Iran is having to dramatically increase oil production facilities in the Gulf in response to international sanctions on its exports, Iran’s Press TV reported.

December 2, 2012

Abu Dhabi's Taqa looking for oil in Iraq's autonomous Kurdish region
08:59 GMT

A state-controlled energy investment company in Abu Dhabi said it has secured a deal to search for oil in Iraq’s autonomous Kurdish region, as tensions mount between Baghdad and it's autonomous region, over oil rights.

November 28, 2012

Mr. Abdulla Hassan Al Noman, Manager, Retail Sales Operations at Emarat
09:11 GMT

Emarat has launched a new promotional offer, giving its customers a chance to get a discount of AED 20 on the steam Wash for their vehicles, at any service station that provides this service.

Iraq has granted Jordan 100,000 barrels of crude oil, after Amman increased the cost of fuel, leading to protests and taxi-shortages
08:36 GMT

The Iraqi cabinet has granted 100,000 of crude oil to Jordan, which Jordan's government spokesman said that it showed the strength of ties between the two nations. It is estimated that Jordan uses 100,000 barrels of oil a day.

Saudi is warning over the increase in electricity usage
07:28 GMT

Prince Abdul Aziz bin Salman, assistant minister of petroleum and mineral resources, has cautioned against growing energy wastage in the Saudi Kingdom, saying 70 percent of the country’s electricity is used for air-conditioning.

Contracts have been awarded for desalination plants in Saudi Arabia
03:00 GMT

nsortium including Samsung Engineering and Shanghai Electric have won an SR 11.3 billion deal to build a water desalination plant