Oil & Energy
September 2, 2012
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.
The GCC will record high growth but other Arab economies remain uncertain.
August 26, 2012
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.
Among the Gulf Cooperation Council (GCC) economies, Saudi Arabia can be seen as the most aggressive with respect to investments in the power sector, according to a study by Kuwait Financial Centre (Markaz).
August 23, 2012
Abu Dhabi shares rose for a ninth day, the longest stretch of gains since March, after earnings at the emirate's companies beat estimates and oil traded near a three-month high.
Lebanon’s fuel prices are set to skyrocket as oil prices continue to climb in international markets, the head of the Oil Importers Association said.
August 16, 2012
Saudi Arabia's crude oil production will average 9.7 million barrels a day next year, according to National Commercial Bank (NCB), the kingdom's largest bank by assets.