Oil & Energy
October 29, 2012
Closing the Strait of Hormuz and sanctions imposed on the Iranian energy sector are independent issues, an Iranian military commander said, in a telling sign that it may be kept open in the event of a strike on the Islamic Republic.
The UAE produced on average 2.69 million barrels per day in September, similar to the production levels in a month earlier, latest data from the Paris-based International Energy Agency (IEA) showed, with expectations that the Emirate is going to boost production.
From next month, citizens in Giza will use ration cards when they buy subsidised gas canisters; if successful scheme may be rolled out countrywide.
October 28, 2012
Dubai seeks to diversify its sources of energy and reduce energy consumption by 30 per cent by 2030, according to a senior official speaking at the World Energy Forum.
October 24, 2012
WorleyParsons has been awarded a USD 90m contract extension by BP Iraq to continue providing Engineering, Procurement and Management services to boost production from the super-giant Rumaila oilfield in Southern Iraq.
Jordan is planning to launch he government’s controversial proposal to lift fuel subsidies, according to an official, as the new Prime Minister desperately seeks to allay the fears of the IMF.
As Kuwait witnessed its largest ever protest against the government, and the subsequent banning for groups of more than ten people congregating, crude oil price slips in a worrying sign for the government.
Misr Petroleum faces a second smuggling scandal in a week following the arrest of seven employees allegedly involved in a petroleum smuggling operation in Sinai.
October 23, 2012
Iran will suspend all oil exports if the U.S. tightens sanctions, Oil Minister Rostam Qasemi warned at a news conference in Dubai on Tuesday.
Oman, the biggest Arab oil producer that isn't a member of the Organisation of Petroleum Exporting Countries (Opec), is pumping an average of 915,000 barrels a day of crude in 2012, the Oil Minister has confirmed.
The country’s fuel and lubricants provider of choice, Oman Oil Marketing Company, has won the Phoenix Power Company’s tender to supply fuel to Oman’s first independent power project in Sur.
Iraq plans to spend up to $1.6 billion on solar and wind power stations over the next three years to add 400 megawatts (MW) to the national grid to help curb daily blackouts, an official from the ministry of electricity said.
The governors of Organisation of Petroleum Exporting Countries (Opec) have gathered in Vienna to select a new secretary-general for the first time in six years, with four countries vying for the position.
October 22, 2012
Iran halted gas exports to Turkey after a blast damaged the pipeline in the Turkish territories, authorities announced on Monday.
October 21, 2012
Oman Oil Marketing Company has chosen Jawad Business Group’s one-stop auto-shop, Auto-o’s, to be the exclusive dealer of omanoil-branded lubricants in the Kingdom of Bahrain.