Oil & Energy

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For the MENA region, economic dynamics are increasingly diverging between the GCC countries and the rest of the region.
The decline in oil prices will provide significant boost to the oil importing countries in the Middle East.

June 25, 2012

OCTAL - Art of Beauty
09:27 GMT
(press release)

15 women from Salalah graduated in the fields of cosmetology and hairdressing from the Art of Beauty Institute sponsored by OCTAL Petrochemicals in partnership with the Omani Women’s Association.

UAE petrol stations to be automated for filling and payment
08:45 GMT

Self-service for petrol stations across the UAE, for payment and filling, are the order of the day with manual help going out of fashion globally.

ENOC receiving the award
08:24 GMT
(press release)

Emirates National Oil Company has won the Superbrands laurel for the seventh consecutive year.

June 24, 2012

University of San Francisco Visits ENOC
07:43 GMT
(press release)

Emirates National Oil Company ENOC received MBA students from the University of San Francisco, who were in Dubai to gain insights on doing business in the Middle East.

June 21, 2012

Jorf Lasfar Power Complex Expansion
06:42 GMT

Abu Dhabi National Energy Company, TAQA, announced that its wholly-owned subsidiary, Jorf Lasfar Energy Company 5&6 SA, has signed financing arrangements for USD 1.4 billion equivalent of 16-year.

June 20, 2012

95-octane graded fuel fell by LL500 from last week and 98-octane graded fuel fell by LL600
10:16 GMT

Gasoline prices continued to fall this week with the price of 95-octane graded fuel reaching LL32,700 and that of 98-octane graded fuel reached LL33,300.

June 19, 2012

During the event
11:16 GMT
(press release)

Horizon Terminals has signed a 10-year Islamic term financing facility of US$100 million with Standard Chartered Bank, Emirates NBD and Noor Islamic Bank.

June 18, 2012

OCTAL - PET Recycling Program
10:31 GMT
(press release)

OCTAL recently kicked-off the first-of-its-kind PET water bottle recycling program at the British School Salalah.

June 14, 2012

The harshest of the US and European measures don't formally kick in until the end of the month, yet crude oil exports have already fallen to 1.5 million barrels per day
13:24 GMT

Oil revenue in the Islamic Republic may have fallen by nearly one third, or $35 billion, on the back of a slowdown in exports and declining prices.

Near midnight on Tuesday, the Cabinet announced an increase in the price from JD0.62 to JD0.70 per litre
08:54 GMT

For some motorists, the timing of the government’s Tuesday night decision to raise the price of 90-octane gasoline was “inappropriate” and the new price is way “too high”.

ENOC DSS promotions
05:19 GMT
(press release)

Emirates National Oil Company marks a significant first this summer by sponsoring the much-awaited entertainment and shopping fiesta, the Dubai Summer Surprises.

June 12, 2012

EMGAS receives CSR Label award
11:20 GMT
(press release)

Emirates Gas won Dubai Chamber’s CSR Label award for the second consecutive year for its distinguished corporate social responsibility practices.

A portion of the natural gas to be transported via the pipeline will be supplied to Jordan at a price to be set by the two governments at a later stage
07:29 GMT

The Iraqi government has approved an agreement paving the way for the construction of a long-awaited gas pipeline to Jordan.

June 11, 2012

Iran's production has sunk to its lowest in two decades due to Western sanctions against its nuclear programme
13:32 GMT

A huge surplus of oil has knocked oil down towards double digits, Opec's president said on Monday, and a level of $100 to $120 a barrel is more reasonable.

June 10, 2012

Brent crude was trading just under $99 per barrel on Friday after dropping to a 16-month low below $96 a barrel last week
11:37 GMT

Saudi Arabia pumped 9.8 million barrels per day (bpd) of crude oil in May, cutting output by 300,000 bpd from the month before, an industry source said.