Oil & Energy

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Instability and civil wars in the MENA region had a recent impart on oil supplies and demand (File/AFP)
Today
According to a report, oil supply growth will reduce over the next 18 months. This comes with many risks. Why is the Middle East's oil industry experiencing a downfall?

April 24, 2012

OCTAL Petrochemicals employees celebrating World Earth Day 2012
09:45 GMT
(press release)

OCTAL Petrochemicals employees planted 50 native Frankincense trees at the company’s 47-hectare PET Complex in the Salalah Free Zone in honor of World Earth Day 2012.

Iranian export terminals and other oil facilities were under attack by malware and hackers
09:09 GMT

Iran has disconnected its main crude export terminal as well as its oil ministry from the Internet to avoid being attacked or manipulated by malware.

Jordan's energy bill exceeded JD4 billion in 2011
07:17 GMT

The Jordanian government will raise electricity tariffs to counter an expected loss of more than JD1.5 billion in the energy sector resulting from the halt in Egyptian gas supplies.

April 23, 2012

Egypt announced Sunday it was ending its natural gas export contract with the Israeli company East Mediterranean Gas company
14:52 GMT

Most Israeli officials downplayed Egypt's decision to terminate a natural gas supply to Israel, calling it a business dispute, not a politically motivated one.

Electricity workers shall continue their strike until their demands are being answered
08:02 GMT

Around 200 Jordanian Electric Power Company (JEPCO) workers gathered outside the Prime Ministry on Sunday to protest against what they called unfair working conditions.

April 22, 2012

ADNOC booth at the OTC 2011
12:33 GMT

ADNOC & its Group of Companies are gearing up for a strong participation in the upcoming Offshore Technology Conference (OTC 2012) which will take place in Houston, USA, 30 April to 3 May, 2012.

April 19, 2012

Employees planned to escalate their strike if the company did not meet their demands
12:38 GMT

The president of the Jordanian Electric Power Company voiced hope that the dispute between the company and its workers would be resolved within a day.

The winners of IPad 2 GB16 from Emarat
07:03 GMT

Emirates General Petroleum Corporation "Emarat" has announced the first and second lists of winners of IPad 2 GB16 in its recently launched promotional campaign "Shop and Drive".

April 18, 2012

Gasoline had been expected to increase but gas stations across the country charged people the same prices as last week; LL39,700
10:29 GMT

Fuel prices in Lebanon this Wednesday remained unchanged from the previous week.

Emarat service station
08:26 GMT

Emirates General Petroleum Corporation "Emarat", in cooperation with LG, has launched an innovative promotional campaign.

April 17, 2012

Moosa AL-Moosa, General Manager, Dow Chemical Company
12:14 GMT
(press release)

The Dow Chemical Company recently appointed Moosa AL-Moosa as General Manager for the United Arab Emirates, reiterating its commitment to the United Arab Emirates and the Middle East region.

Employees had been on strike since April 3 to demanding higher salaries and cost of living raises, hazard pay and improved health insurance coverage
08:52 GMT

A dispute between the Central Electricity Generating Company (CEGCO) and its employees was resolved on Sunday after a two-hour meeting at the labour ministry.

April 16, 2012

Omanoil
14:03 GMT
(press release)

Marking its ambitious retail expansion plan, Oman Oil Marketing Company (omanoil) has opened the first filling station and ahlain convenience store of 2012 in Aqar New, located in Al-Batinah Governorate.

Crude has dropped from $110 last month amid signs global crude supplies are outstripping demand
12:10 GMT

Oil fell to near $102 a barrel Monday in Asia after negotiators said meetings over Iran's nuclear programme last weekend began on a positive note.

Ships from UAE to Iraq are expected to reach the port in Iraq's oil-rich southern city of Basra within a few weeks
08:33 GMT

Iraq has signed a contract to buy 250 megawatts of electricity per day from UAE's Oilfield Services, the Electricity Ministry said.