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)
July 23, 2014 - 12:12 GMT
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 4, 2012

Iranian Oil Minister Rostam Qassemi
13:18 GMT

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

Oil refinery pump
11:25 GMT

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.

Crude Oil
08:06 GMT

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

Activists demostrate near the Interior Ministry Circle, central Amman, to protest government decision to hike fuel prices on Saturday (Photo by Khaled Oudat)
09:40 GMT

Hundreds of activists demonstrated near the Interior Ministry Circle, central Amman, demanding the government to reverse its decision to raise fuel prices.

Motorists fill their cars with gasoline at a gas station in Amman on Saturday.
08:22 GMT

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.

ENOC's Autism Awareness Campaign
07:48 GMT
(press release)

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

11:09 GMT

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

Oil refinery
11:20 GMT

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.

n this photo provided by the Cyprus Press and Information office, the Noble Energy company's offshore oil and gas rig is seen some 115 miles (185 kilometers) off Cyprus' south coast.
08:48 GMT

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

Jassim al-Saadoun, head of Kuwait-based Al-Shall Economic Consultantsز
14:16 GMT

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.

ENOC and Aldrees Joint Venture
09:48 GMT
(press release)

Emirates National Oil Company has signed a joint venture agreement with Aldrees Petroleum & Transport Services Company.

A nuclear power plant in Iran
07:08 GMT

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

Dr. Saleh A Al Anboori
09:20 GMT

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.

Dubai city
08:22 GMT

The GCC will record high growth but other Arab economies remain uncertain.

August 26, 2012

Iran oil
18:32 GMT

TEHRAN (FNA)- Two batches of rial denominated bonds, each worth 5,000 billion rials (almost 400 million dollars), will be issued in next two months, an Iranian deputy oil minister announced.