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.

September 23, 2012

Will shale gas drive the Tunisian economy forward?
12:41 GMT

Tunisia is considering producing shale gas in an effort to cope with rising demand coupled with a drop in traditional oil stock, although the Industry Ministry has denied claims that permits have already been granted.

Oil firms risk the wrath of Baghdad as planned explorations in Kurdistan increase
11:31 GMT

Royal Dutch Shell is exploring possibilities in Iraqi Kurdistan, sources said, having seen rivals Exxon Mobil and Total risk Baghdad's wrath by moving into autonomous northern region while developing major oilfields in the south.

Will Qatar fuel Egypt's future?
11:26 GMT

Egypt and Qatar are set to sign a gas-importing contracting that would see 400-500 million cubic feet of liquefied gas imported, in an effort to deal with current levels of disruption.

September 20, 2012

Khaldoun Tabari, CEO of Drake & Scull International
08:36 GMT
(press release)

Drake & Scull International announced that it has been awarded in collaboration with Sicim spa of Italy a AED 1.314 billion Engineering, Procurement and Construction contract.

September 19, 2012

Crude oil.
10:55 GMT

Saudi Arabia is taking action to reduce the price of oil by pumping about 10 million barrels a day of crude and will produce more if customers demand it.

September 17, 2012

Jordan signs agreement to explore the viability of an oil shale project
12:29 GMT

The Jordanian Ministry of Energy and Mineral Resources has signed an agreement with a Canadian firm to study the viability of an oil shale project in three areas of the Kingdom

Iran and Turkey hold key nuclear talks
12:17 GMT

Iran's chief nuclear negotiator Saeed Jalili met on Monday with Turkey's Foreign Minister Ahmet Davutoglu to discuss the resumption of international talks over Tehran's atomic program

Egypt's fuel debt has increased to $3 billion
10:00 GMT

Egypt’s cash-strapped government owes foreign energy producers at least $3 billion, as cancelled oil import tenders and lengthening queues at petrol stations point to fresh strains on fuel supplies.

September 16, 2012

Oil exports are drying up for Iran as sanctions begin to bite
11:27 GMT

As sanctions begin to bite in Iran, over it's alleged nuclear programme, South Korea becomes the latest country to cease trading as its ships can no longer gain the required insurance after the implementation of a EU ban.

Iraq's has ambitious plans to increase oil production
08:41 GMT

Iraq has ambitious plans to increase oil production, to six million barrels a day, up from the current level of 2.6 million barrels a day.

September 13, 2012

King accuses Israel of disrupting Jordanian nuclear energy plans
11:16 GMT

Jordanian King Abdullah II has accused Israel of disrupting the country’s nuclear program to meet its dire energy needs.

Iran's nuclear ambitions are fuelling tension in the region causing the increase in the price of crude oil
10:44 GMT

The price of crude oil rose this week, reaching the highest level for three and a half months. The cost increase has been put down to a potential strike on Iran by Israeli along with a global economic outlook that remains poor.

September 12, 2012

Opec is confident over the supply of crude oil, but predicts a slowdown in 2013
11:05 GMT

Opec have announced that crude oil is in abundant supply, but the current level of demand for crude oil will decrease in 2013, but Opec will still need to pump 29.5 million barrels a day next year.

The fuel crisis that has rocked South Sudan could soon be over
09:16 GMT

South Sudan, the 13 month old nation which seceded from it's Northern neighbour and took most of the oil fields along with it, has suffered chronic fuel shortages for two weeks. The crisis could soon be over though, according to a media official.

September 11, 2012

Oman Oil
10:37 GMT
(press release)

Oman Oil Marketing Company is realizing its ambitious expansion plan with the opening of five new filling stations and nine ahlain convenience stores across the Sultanate in 2012.