Oil & Energy

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It's all doom and gloom for the Gulfi dream as the GCC are bracing for tough times with vital oil revenues falling rapidly. (Image: Gulf man expreses grief via Shutterstock)
December 24, 2014 - 10:38 GMT
Gulf countries are bracing for tough times as vital oil revenues fall and after they missed a golden opportunity to diversify their economies in a decade of unprecedented windfalls, analysts say.

November 21, 2012

Gas prices dipping in Lebanon
10:23 GMT

Gasoline and fuel prices in Lebanon continued to decline Wednesday, falling by LL500, according to the country’s Energy and Water Resources Ministry.

EQUATE President & CEO Mohammad Husain
09:58 GMT
(press release)

EQUATE Petrochemical Company said that the global petrochemical industry was facing serious global challenges.

Demand for fuel in Jordan has dropped dramatically since the decision to lift subsidies
08:20 GMT

Following the Jordanian governments decision to lift subsidies on fuel products, demand for petroleum products has dropped sharply over the last few days, according to the Gas Station Owners Association.

November 20, 2012

Panic trading in the oil markets have caused prices to drop from previous one-month highs
12:02 GMT

As the Gaza conflict unfolds US Secretary of State Hillary Rodham Clinton has started talks with stake holders in Middle East. United Nations Secretary Ban Ki-moon is also expected to reach Israel Tuesday, causing a flurry of activity in the oil markets.

A well-placed UK insider on the Egypt-IMF talks says it'll be difficult, but necessary, for the Egypt to agree on the terms.
11:08 GMT

A well-positioned UK official close to the negotiations between the IMF and Egypt over a $4.8 billion loan deal reveals to Ahram Online that "The IMF wants economic reforms before it gives the money."

Fuel prices in Jordan will fluctuate in line with international costs
08:40 GMT

After days of protests across Jordan caused the the governments decision to increase the cost of petroleum products, it has been announced that fuel prices will be matched to market prices, which will see them fluctuate in line with international prices.

Mr.Hussain Kazim, Manager, Corporate Communications at Emarat
07:20 GMT

Emirates General Petroleum Corporation, pavilion at the Abu Dhabi Petroleum Exhibition and Conference this year, witnessed significant interest from a wide range of visitors.

Crescent Petroleum is set to expand its operations in Libya and Lebanon
03:00 GMT

UAE-based Crescent Petroleum is gearing up for expansion in the Iraqi oil and gas sector and a debut into Libya and Lebanon, its chief executive told Reuters.

November 19, 2012

Global electricity demand is set to shoot up by 70 per cent
12:11 GMT

The global demand for electricity could rise by over 70 per cent between 2010 and 2035 driven largely by rising demand from emerging economies, the International Energy Agency (IEA) said.

Saif Al Falasi, ENOC’s Executive Director for EHSQ and Corporate Affairs at the conference
09:11 GMT
(press release)

Emirates National Oil Company (ENOC) organised the 4th annual Occupational Health Conference recently at the Al Murooj Rotana Hotel in Dubai.

Is nuclear the future in the Saudi kingdom?
05:00 GMT

Diesel and gas power stations throughout Saudi Arabia will gradually be replaced by nuclear generators over the next decade as the country develops greener sources of energy, it has been announced.

November 18, 2012

Egypt to increase gas supply from Algeria
12:31 GMT

The Egyptian government has negotiated with Algerian petroleum company SONATRACH to increase its butane gas imports from the country to one million tonnes per year, state-run daily Al-Ahram reported on Thursday.

November 15, 2012

Lebanon and Iran set to discuss trade ties
14:44 GMT

nian Energy Minister Majid Namjoo arrived Thursday in Beirut to discuss previously signed cooperation agreements between Lebanon and Iran.

Oil prices stable despite Middle East violence
11:33 GMT

Crude oil prices have started bouncing back from lows due to geo political tensions in the Middle East even as increasing US inventory weaker demand for oil growth estimated by OPEC may curb upside gains in prices.

Public transport and taxi fares are set to increase in Jordan
01:00 GMT

Public transport fares are to rise in Jordan after the government increased the cost of fuel and gas on Tuesday. Prices will go up by as much as 11 per cent although the taxi drivers union has urged increase of up to 20 per cent.