Oil & Energy
December 3, 2014
Pakistan has finalised a gasoil supply deal for 2015 with Kuwait, which supplies 90 per cent of its demand for the fuel it uses for electricity generation and transport.
“We will not increase fuel imports because the financial resources are not available,” says EGPC chairman El Molla
The sharp decline in the crude oil prices would put “some pressure” in equity markets in the region.
December 2, 2014
Saudi Arabia said on Monday that its oil policy was based on economic principles, as speculation continued to swirl after last week’s OPEC meeting of political motives aimed at other producers.
Oman Oil Marketing Company’s Chief Executive Officer, Engr. Omar Ahmed Salim Qatan, and seven members of the senior management team swapped their roles to work as fillers at the Qurum Heights filling station.
Sluggish demand growth in response to the quadrupling of prices between 2002 and 2012 is at least as a big a challenge for the group.
December 1, 2014
Gulf stock markets plunged to milestone lows in a panic sell-off on Sunday after OPEC’s decision to keep crude output unchanged sent oil prices tumbling.
Just when the market was thinking that a four-year low for crude oil was bad enough, we have hit a five-year low.
“But because of the unity and solidarity of OPEC, we decided not to protest against this decision.”
November 30, 2014
The headquarters of Emirates General Petroleum Corporation "Emarat" on Sheikh Zayed Road in Dubai has been adorned with beautiful decorations, colorful lighting and flags in celebration of the UAE's 43rd national day.
Brent crude oil plunged as much as $6.50 a barrel on Thursday, and US crude fell by nearly as much.
The government will not disburse the third tranche of cash payments to households in compensation for removing fuel subsidies, as international oil prices have been below $100 a barrel for more than two months.
November 27, 2014
While the statistics speak in favour of a cut, the buildup to the OPEC meeting has seen one of the most heated debates in years.
Emirates National Oil Company (ENOC), a wholly-owned entity of the Government of Dubai, celebrated the 43rd UAE National Day with a colourful showcase of traditional activities that highlight the ‘Spirit of the Union’.
November 26, 2014
Impromptu talks between Saudi Arabia, fellow Organisation of Petroleum Exporting Countries (OPEC) member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday.