Oil & Energy

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For now, however, the US-led surge in supply and weak demand have seen traders start to store additional barrels as they wait for prices to recover.
September 14, 2014 - 04:55 GMT
The drop in oil prices to their lowest in two years has caught many observers off guard, coming against a backdrop of the worst violence in Iraq this decade, heightened tensions between the West and Russia, and sanctions against Iran.

July 12, 2012

IEA
13:39 GMT

The IEA said in its monthly report released on Thursday demand on oil next year is likely to face a slowdown due to the weak economic recovery.

Saudi Arabia wins oil battle against Iran
12:25 GMT

We may not have noticed that we are actually in the heart of an international battle whose political, security and military implications cannot be predicted.

During the event
10:47 GMT
(press release)

Emirates National Oil Company (ENOC) presented Nissan Micra cars to the first two winners of its Dubai Summer Surprises (DSS) promotion.

July 11, 2012

OPEC
13:50 GMT

The Organization of the Petroleum Exporting Countries' (Opec) crude output dipped by 30,000 bpd to 31.72 million bpd in June from 31.75 million bpd in May, reversing most of the 40,000 bpd increment of previous month, according to a new survey.

Solar Cells
09:23 GMT

Bahrain will implement a $25 million solar energy project on an experimental basis to produce up to 5MW of power, said a senior government official.

Iran Oil
08:11 GMT

Iran's foreign minister said Tehran does not plan to block the Strait of Hormuz, the slender oil shipping channel out of the Persian Gulf, for now, but meantime warned that it would choke off the world oil lifeline if it is denied access to the Persian Gulf.

July 9, 2012

Turkey cuts Iran oil imports by 35%
14:39 GMT

Turkey’s crude oil imports from Iran dropped by more than 35 per cent in May from April as it steps up efforts to ensure the US waives sanctions on its imports of Iranian oil for the remainder of this year.

Oil Lines
11:54 GMT

Saudi Arabia has reopened an old oil pipeline built by Iraq to bypass Gulf shipping lanes, giving Riyadh scope to export more of its crude from Red Sea terminals should Iran try to block the Strait of Hormuz.

Economic concerns push oil down 3%
09:24 GMT

Iran's missile tests won't rattle the markets as oil prices continue to fall

Emirates Nuclear Energy Corporation
08:20 GMT
(press release)

The Emirates Nuclear Energy Corporation is providing 63 students with an opportunity to gain invaluable experience through its two summer internship programs in the Republic of Korea.

July 8, 2012

Abu Dhabi's $40b energy spending spree
09:34 GMT

Abu Dhabi’s state oil producer will spend $40 billion (Dh146.93 billion) on crude, natural gas, petrochemical and refinery projects from 2010 through 2014.

The pioneering packaging company now supplies PET containers across nine Lulu outlet
08:51 GMT
(press release)

OCTAL is connecting local supply with local demand by realizing its import substitution strategy through a partnership with Lulu Hypermarkets.

July 5, 2012

General Electric Energy
12:53 GMT
(press release)

Achieving a series of firsts in technology, customer services and the development of local talent, the Dammam-based GE Energy Manufacturing Technology Center has successfully completed its first year of operations.

Make tea not war: Jordanian protestors not quite in the Egyptian vein
09:31 GMT

Despite the lack of unrest, the Kingdom is still struggling with rising unemployment.

July 4, 2012

Average daily gasoline consumption in Iran stood at 62.02 million liters during the week ending on June 29 down by 2.9 percent compared with a week earlier.
13:20 GMT

Iranian drivers are trimming down their daily petrol consumption, down by 2.9 percent compared with a week earlier when last recorded.