Oil & Energy

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Speculation on Saudi's role in global oil crisis still stirring. Why is Saudi holding its ground on its oil output? (Image Courtesy Lurie's News Cartoon)
Saudi minister dismisses conspiracy theories on oil price, but the world's still speculating.

December 4, 2012

Oil output in the UAE dropped slightly in October, according to the International Energy Agency
07:22 GMT

The UAE, on average, produced 2.67 million barrels per day (bpd) in October, 0.74 per cent lower than its output in September, latest data from the Paris-based International Energy Agency (IEA) showed.

During the celebration
06:13 GMT

The headquarters of Emirates General Petroleum Corporation "Emarat" has been adorned with beautiful decorations, colorful lighting and flags in celebration of the UAE's 41th national day.

December 3, 2012

Political instability and protests are putting of investors in the Libyan oil game
09:15 GMT

A year after oil firms jockeyed to secure the first deals in post-war Libya, political disorder and a large surplus of oil in Europe have sapped enthusiasm ahead of talks for 2013 contracts worth around $50 billion.

Iran needs to increase oil production in the Gulf in response to sanctions
09:02 GMT

Iran is having to dramatically increase oil production facilities in the Gulf in response to international sanctions on its exports, Iran’s Press TV reported.

December 2, 2012

Abu Dhabi's Taqa looking for oil in Iraq's autonomous Kurdish region
08:59 GMT

A state-controlled energy investment company in Abu Dhabi said it has secured a deal to search for oil in Iraq’s autonomous Kurdish region, as tensions mount between Baghdad and it's autonomous region, over oil rights.

November 28, 2012

Mr. Abdulla Hassan Al Noman, Manager, Retail Sales Operations at Emarat
09:11 GMT

Emarat has launched a new promotional offer, giving its customers a chance to get a discount of AED 20 on the steam Wash for their vehicles, at any service station that provides this service.

Iraq has granted Jordan 100,000 barrels of crude oil, after Amman increased the cost of fuel, leading to protests and taxi-shortages
08:36 GMT

The Iraqi cabinet has granted 100,000 of crude oil to Jordan, which Jordan's government spokesman said that it showed the strength of ties between the two nations. It is estimated that Jordan uses 100,000 barrels of oil a day.

Saudi is warning over the increase in electricity usage
07:28 GMT

Prince Abdul Aziz bin Salman, assistant minister of petroleum and mineral resources, has cautioned against growing energy wastage in the Saudi Kingdom, saying 70 percent of the country’s electricity is used for air-conditioning.

Contracts have been awarded for desalination plants in Saudi Arabia
03:00 GMT

nsortium including Samsung Engineering and Shanghai Electric have won an SR 11.3 billion deal to build a water desalination plant

Iran has rejected claim that it was to offer free oil to Jordan
02:00 GMT

Iran's embassy in Jordan categorically denied media reports alleging that Tehran has offered to supply free oil to Jordan following media reports.

November 27, 2012

Dubai Electricity and Water Authority
07:48 GMT

HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority, today personally accepted the Sword of Honour in Safety and Globe of Honour in Health.

November 26, 2012

Iran is set to increase gas production in South Pars gas field
11:37 GMT

Iran has announced that it will increase gas production in the giant South Pars gas field. The Islamic Republic has also announced that it will build more storage for oil facilities as Western sanctions are begin to bite.

Egyptian stocks recovering in early trading after 'Black Sunday' saw 10 per cent wiped of the value of companies
10:08 GMT

Following 'Black Sunday', where the Egyptian stock market dropped almost 10 per cent and saw trading suspended after prices crashed beyond acceptable levels, the bourse has jumped in early trading on Monday.

Oil prices ease as Middle East recedes
09:40 GMT

With the tensions in the Middle East between Israel and Hamas coming to a close crude oil futures slipped for the first time in three days as supply fears subsided.

Dr. Rahma bin Mohamed Al Shamsi, Retail Sales Manager at Emarat, hands over the key to the winner’s representative
07:59 GMT

UAE national Moza Muftah Mansour won a Toyota 2013, the grand prize of the promotional campaign recently launched by Fasttrack for Vehicles Maintenance and Repair.