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 15, 2012

Sara Akbar, Kuwait Energy’s Chief Executive Officer
07:35 GMT
(press release)

Kuwait Energy announced a new oil discovery of Ahmad-2 well, located in the Area A license in the Gulf of Suez, Egypt, adjacent to the Shukheir North West field.

DEWA Stand at GITEX 2012
05:48 GMT
(press release)

DEWA is showcasing the latest customer service technologies during GITEX 2012, one of the world’s top three ICT, Information, Communication, and Technology exhibitions, this year.

October 14, 2012

Oil importers in the Middle East face externalised risk
14:12 GMT

Oil-importing countries in the Middle East are experiencing heightened risks as their budgets and external balances deteriorate, the International Monetary Fund (IMF) said.

Oman Oil Automatic Toilet
11:02 GMT
(press release)

OmanOil has introduced the country’s first of its kind Automated Toilet at its Burj Al Sahwa filling station in a bid to advance Oman’s public hygiene facilities.

ELOMP at the Middle East Base Oils Lubricants
06:02 GMT
(press release)

Emirates National Oil Company Lubricants, highlighted the role that lubricants play in promoting energy efficiency at the ninth edition of the ICIS Middle East Base Oils & Lubricants Conference.

October 10, 2012

Saudi Aramco discovers a new gas field in the Red Sea
12:31 GMT

Saudi Aramco, Saudi Arabia's state-owned energy company, has discovered a potentially highly lucrative new gas field in the Red Sea.

Jordan's Muslim Brotherhood cancelled a planned trip to Egypt to help negotiations
08:54 GMT

Jordan's Muslim Brotherhood cancelled its planned trip to Egypt to assist with a gas agreement, that could have alleviated the Kingdoms chronic gas shortfall.

October 9, 2012

Saudi Arabia is taking action to keep oil prices moderated
10:11 GMT

As fears grow for the global economy, Saudi Arabia says that current oil prices are adequate for global economic growth after slight reduction in the cost of a barrel of Brent crude.

In a sign of continued economic and environmental partnership, UAE-based Masdar executives are set to speak at Singapore’s annual Asia Future Energy Summit, taking place in later this month
08:15 GMT
(press release)

In a sign of continued economic and environmental partnership, UAE-based Masdar executives are set to speak at Singapore’s annual Asia Future Energy Summit, taking place in later this month.

October 8, 2012

Iraq's oil export rose in September
15:16 GMT

Iraqi oil output is continuing to increase as the country plans to increase exports, as current levels are the highest since 1979.

Omani police and customs caught the smugglers when inspecting trucks at a check point
10:43 GMT

A gang of oil smugglers have been caught in Oman by customs officers who later found out that the group had altered vehicles to carry fuel derivatives destined for the lucrative black market.

Iran is attempting to sail round Western sanction with new oil tankers
08:54 GMT

As the Iranian economy is buffeted by Western sanctions, the Islamic Republic is trying to sail around them by taking delivery of twelve new oil tankers so it can deliver oil to Asia.

Yemen confirms oil plans
08:03 GMT

Yemen's Supreme Committee on Crude Oil Marketing has approved the crude oil sales for the Republic for December 2012.

October 7, 2012

Saudi to top oil investment in the MENA region
09:33 GMT

Investment in oil in the MENA region is expected to top $740 billion over the next five years, lead by Saudi Arabia.

October 4, 2012

Fuel prices are set to decrease further if oil price continue to slide
06:00 GMT

Fuel in Lebanon has decreased, as the Water and Energy minister set a ceiling price for petroleum derivatives in Lebanese markets.