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?

August 12, 2012

ENOC Third Lecture with Renowned Islamic scholar, Ali Masha’al
10:42 GMT
(press release)

Renowned Islamic scholar, Ali Masha’al, hosted ENOC’s third Ramadan lecture titled The Last 10 Days of Ramadan.

August 9, 2012

Oman's government revenue shot up 35.4 per cent to RO7.369 billion, from RO5.443 billion for the same period last year.
14:07 GMT

Oman's budget surplus surged to a record high of RO1.683 billion in the first half of 2012, on the back of surging oil and gas revenues.

World Energy Forum
13:17 GMT

On October 22nd, 2012 Dubai will be host to the World Energy Forum. The event will also mark the first time the event has ever been held outside of the United Nations headquarters, which is located in New York City, U.S.

10:13 GMT

The three service providers agreed Wednesday to drop a clause stipulating a three-month probation period in contracts being offered to EDL’s part-time workers.

August 8, 2012

EDL headquarters
21:32 GMT

Representatives of part-time workers at Electricite du Liban and the private service providers failed to reach a settlement Tuesday over employment contract terms.

South Sudan flag
10:22 GMT

South Sudan has called on the international community to assist the one-year old nation fill a huge financial gap created by the recent agreement with Khartoum as details on oil deal emerge.

August 7, 2012

An Army soldier washes the floor of EDL’s square after the sit-in is dismantled
13:18 GMT

A row over employment contracts being offered to EDL part-timers by three service providers Monday could jeopardize a political settlement that ended a 95-day strike last week.

11:21 GMT

Oil hovered near $92 a barrel Tuesday in Asia as analysts estimated that supplies of U.S. crude and gasoline likely fell last week.

August 6, 2012

Mutrif Sidiq, spokesperson of Sudan negotiating team.
12:32 GMT

Sudanese negotiating team confirmed that they reached an agreement on oil transportation fees but did not provide further details.

World oil Supply
11:18 GMT

The Organization of the Petroleum Exporting Countries (Opec) oil output fell further from its highest in four years in July as US and European sanctions cut supply from Iran to the lowest in more than two decades, a Reuters survey showed.

August 5, 2012

13:38 GMT

The total revenue of the 11 members of the Organisation of Arab Petroleum Exporting Countries (OAPEC) soared to $624.8 billion in 2011, according to the latest data.

Emirates National Oil Company
10:35 GMT
(press release)

ENOC’s second Ramadan Lecture Series featured Dr. Ahmed Al Hadad, the Grand Mufti of Dubai, who underlined the importance that the Holy Month places on acts of charity, sacrifice and generosity.

09:29 GMT

Shares in Saudi Arabia (SASEIDX), the Arab world's biggest stock market, climbed to a two-month high after oil prices rose and U.S. employment climbed more than economists anticipated.

August 2, 2012

US congress
14:47 GMT

The United States Congress overwhelmingly passed a new package of sanctions against Iran on Wednesday that aims to punish banks, insurance companies and shippers that help Tehran sell its oil.

Crude oil
13:25 GMT

Crude oil prices slogged higher Wednesday with prices at the lower end of an $88 to $92 plateau that has been steady since mid-July.