Oil & Energy
September 9, 2012
OCTAL has tripled its annual production capacity of PET resin used for water, juice and soft drink bottles this month.
September 6, 2012
The political crisis between the central government in Baghdad and the Kurdistan regional government is causing Iraq to lose $200 each second due to repeated stopping of Iraqi oil exports through the Turkish Jihan Port.
September 4, 2012
Iranian Oil Minister Rostam Qassemi said the country would spend 18 percent of its stabilization fund for the development of the oil and gas sector.
September 3, 2012
The UAE is on track to expand its crude oil production capacity to 3 million barrels per day (mbpd) by the end of the year, two industry sources said.
The Syrian government is negotiating deals with firms in London, Singapore and the Middle East to sell crude oil in return for the fuel it needs to survive in the face of an increasingly bloody insurgency.
September 2, 2012
Hundreds of activists demonstrated near the Interior Ministry Circle, central Amman, demanding the government to reverse its decision to raise fuel prices.
Late Friday, authorities decided to raise the price of 90-octane gasoline from JD0.70 per litre to JD0.77, a 10 per cent rise, and the price of diesel from JD0.515 per litre to JD0.550. The price of 95-octane gas, which used to be sold at JD1 per litre, also went up by 1.5 per cent or 15 fils.
Emirates National Oil Company and its subsidiaries conducted a range of activities to highlight the values associated with the Holy Month of Ramadan.
August 30, 2012
Saudi Arabia will probably produce more oil than it supplies to the market in the fourth quarter, boosting a buildup in inventories, according to the Gulf Oil Review.
August 29, 2012
The United Arab Emirates (UAE) is on track to expand its crude oil production capacity to 3 million barrels per day (bpd) by the end of the year, two industry sources said yesterday.
Beirut-based private equity fund EuroMena II has invested $20 million in Sakson Petroleum Services Holding S.A.L., a Lebanese-registered provider of oil and natural gas drilling services based in Egypt.
August 28, 2012
Kuwait posted a record budget surplus of KD13.2 billion ($47 billion) in the fiscal year that ended March 31 as oil prices and output rose.
Emirates National Oil Company has signed a joint venture agreement with Aldrees Petroleum & Transport Services Company.
Iran indicated yesterday it might allow diplomats visiting Tehran for this week's Non-Aligned Movement (NAM) summit to go to the Parchin military base, which UN nuclear experts say may have been used for nuclear-related explosives tests.
August 27, 2012
Oman government is set to award two onshore oil and gas blocks for exploration to international oil firms in the Southern Dhofar region next month.