Oil & Energy

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The U.S. shale revolution showed that forecasts of dwindling world oil supply were premature.
As the world’s oil producers wring their hands over a global glut that’s pushing down prices, evidence is mounting that Saudi Arabia is more concerned about shrinking demand.

December 30, 2012

EQUATE Team with KAACH staff
06:01 GMT
(press release)

EQUATE Petrochemical Company has continued its support for the activities of Kuwait Association for the Care of Children in Hospital.

Mina Al Fahal Distribution Terminal
04:51 GMT
(press release)

Oman Oil Marketing Company celebrates a historic milestone of 20 years without Lost Time Injury at the Mina Al Fahal Distribution Terminal that is operated by the company in a joint venture with Al Maha Petroleum.

December 27, 2012

Oil prices are ont he rise, reaching a ten week high over US Fiscal Cliff fears
08:14 GMT

Oil prices jumped by the most in weeks yesterday, with US crude reaching its highest in more than two months as technical buying and signs of speedier efforts to avert a US fiscal crisis fueled an abrupt year-end rally.

Bahrain to sell oil at $90 a barrel, lower than predictions of $100 from OPEC
07:18 GMT

Oil prices included in Bahrain’s 2013-2014 state budget and estimated at $90 per barrel are feasible and reflect market predictions, said a government official, Despite OPEC expecting prices to be $100 or more.

Honorees in a group picture with Abdullah Hassan Al Noman
05:37 GMT

Emirates General Petroleum Corporation "Emarat" recently organized a ceremony for Emarat's stations supervisors in appreciation of their substantial efforts in supervising the service stations.

Group Image of EQUATE employees with KU Students
05:09 GMT
(press release)

EQUATE Petrochemical Company hosted a number of electrical engineering students from Kuwait University’s College of Engineering & Petroleum.

December 26, 2012

Iran is planning a military exercise for the Strait of Hormuz
12:26 GMT

Iran is planning naval maneuvers in international waters near strategic Strait of Hormuz, where one-fifth of world oil supply passes.

Iraq's semi-autonomous Kurdish region has halted oil exports due to a row over payments
12:14 GMT

An Iraqi Kurdish official said on Tuesday that the country’s self-ruled northern Kurdish region has suspended oil exports over a payment row with Baghdad, a development that could add to already souring relations between the Kurds and the Arab-led central government.

Kuwait's oil exports to South Korea are booming
11:46 GMT

Kuwait's crude oil exports to South Korea in November surged 74.4 percent from a year earlier to 14.06 million barrels, or 469,000 barrels per day (bpd), latest data released by the state-run Korea National Oil Corporation showed.

Gas prices in Lebanon are continuing an upwards trend
09:59 GMT

Gasoline prices in Lebanon continued to rise slowly for the fourth week Wednesday, the weekly price update shows.

EQUATE President & CEO Mohammad Husain With Honored Students
05:42 GMT
(press release)

EQUATE Petrochemical Company hosted a ceremony to honor the educational achievements of over 40 of its employees’ children.

December 24, 2012

Iran claims it has managed to bypass Western sanctions on its oil industry
11:27 GMT

Iranian authorities have claimed that the country has successfully circumvented sanctions on the sale of its oil.

Egypt is to increase the cost of fuel, the Minister of Petroleum and Mineral resources has announced.
10:43 GMT

Prices of fuel oil will be gradually increased during the coming period in consultation with the concerned ministers, Egypt's Minister of Petroleum and Mineral Resources said on Sunday.

EQUATE Booth Hosting Minister Al-Ibrahim during KSE Forum
09:00 GMT
(press release)

EQUATE Petrochemical Company sponsored the Kuwait Society of Engineers First Engineering Initiatives Forum under the patronage of His Highness the Crown Prince Sheikh Nawaf al-Ahmad Al-Jaber Al-Sabah.

December 23, 2012

Political instability in the MENA region will be one of the key determinants of oil prices in 2013, Barclays say
12:40 GMT

The key determinant for oil prices in 2013 will Iraq and Syria, analysts suggest.