Oil & Energy

Featured Story:

There is no need to increase oil production. Instead, Saudi Arabia should use its resources better (File/AFP)
Today
Norway makes good use of its oil and gas industries respectfully. There is room for investment with the large income obtained from the energy sector. Why doesn't Saudi Arabia live off Norway's example?

August 8, 2012

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.

OIL
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

OPEC
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.

Shares
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.

EQUATE Petrochemical Company
09:10 GMT
(press release)

EQUATE Petrochemical Company said that it has shutdown one of its Ethylene Glycol units with a total capacity of 550,000 MTA.

August 1, 2012

Dirham Wa’Bas charity drive campaign
10:15 GMT
(press release)

Tasjeel, a joint venture of ENOC, is partnering with Dubai Autism Centre during the Holy Month of Ramadan for a charitable initiative.

July 31, 2012

Oil
13:45 GMT

Oil fluctuated in New York as European economic confidence worsened in July amid speculation that European policy makers will act to resolve the region's debt crisis.

EQUATE Petrochemical Company
11:03 GMT
(press release)

EQUATE Petrochemical Company said that it extinguished a limited fire earlier this morning.

July 30, 2012

EDL's part time workers are not willing to end the strike until all demands are met.
19:16 GMT

The committee of Electricite du Liban contract workers announced Sunday that a new round of talks with officials would begin this week.