Oil & Energy

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It's all doom and gloom for the Gulfi dream as the GCC are bracing for tough times with vital oil revenues falling rapidly. (Image: Gulf man expreses grief via Shutterstock)
December 24, 2014 - 10:38 GMT
Gulf countries are bracing for tough times as vital oil revenues fall and after they missed a golden opportunity to diversify their economies in a decade of unprecedented windfalls, analysts say.

September 12, 2012

The fuel crisis that has rocked South Sudan could soon be over
09:16 GMT

South Sudan, the 13 month old nation which seceded from it's Northern neighbour and took most of the oil fields along with it, has suffered chronic fuel shortages for two weeks. The crisis could soon be over though, according to a media official.

September 11, 2012

Oman Oil
10:37 GMT
(press release)

Oman Oil Marketing Company is realizing its ambitious expansion plan with the opening of five new filling stations and nine ahlain convenience stores across the Sultanate in 2012.

Saudi Arabia's oil minister says the supply and demand of the global economy doesn't justify current oil prices
08:50 GMT

The free market mantra claims the market sets fair prices for commodities. However, market failures are leading to the high cost of a barrel of Brent Crude and are not justified, according to Saudi Arabia's oil minister, Ali al-Naimi.

September 10, 2012

Record breaking August for Iraqi oil product
12:40 GMT

Iraq has reached record breaking levels of oil production in August, and is now OPECs second-largest producer of oil. Plans to double output illustrate Iraq is attempting to recover from decades of conflict.

South Sudan is facing a severe fuel shortage.
08:53 GMT

Shortage of fuel has severely affected the government’s business in South Sudan as towns are facing blackouts while hundreds of vehicles line up at gas stations to try to get fuel.

September 9, 2012

Sheikh Saad Suhail Bahwan, OCTAL Chairman
06:07 GMT
(press release)

OCTAL has tripled its annual production capacity of PET resin used for water, juice and soft drink bottles this month.

September 6, 2012

Iraq is now the second largest oil producing country within the Organization of the Petroleum Exporting Countries and third in oil reserves.
14:08 GMT

The political crisis between the central government in Baghdad and the Kurdistan regional government is causing Iraq to lose $200 each second due to repeated stopping of Iraqi oil exports through the Turkish Jihan Port.

September 4, 2012

Iranian Oil Minister Rostam Qassemi
13:18 GMT

Iranian Oil Minister Rostam Qassemi said the country would spend 18 percent of its stabilization fund for the development of the oil and gas sector.

September 3, 2012

Oil refinery pump
11:25 GMT

The UAE is on track to expand its crude oil production capacity to 3 million barrels per day (mbpd) by the end of the year, two industry sources said.

Crude Oil
08:06 GMT

The Syrian government is negotiating deals with firms in London, Singapore and the Middle East to sell crude oil in return for the fuel it needs to survive in the face of an increasingly bloody insurgency.

September 2, 2012

Activists demostrate near the Interior Ministry Circle, central Amman, to protest government decision to hike fuel prices on Saturday (Photo by Khaled Oudat)
09:40 GMT

Hundreds of activists demonstrated near the Interior Ministry Circle, central Amman, demanding the government to reverse its decision to raise fuel prices.

Motorists fill their cars with gasoline at a gas station in Amman on Saturday.
08:22 GMT

Late Friday, authorities decided to raise the price of 90-octane gasoline from JD0.70 per litre to JD0.77, a 10 per cent rise, and the price of diesel from JD0.515 per litre to JD0.550. The price of 95-octane gas, which used to be sold at JD1 per litre, also went up by 1.5 per cent or 15 fils.

ENOC's Autism Awareness Campaign
07:48 GMT
(press release)

Emirates National Oil Company and its subsidiaries conducted a range of activities to highlight the values associated with the Holy Month of Ramadan.

August 30, 2012

11:09 GMT

Saudi Arabia will probably produce more oil than it supplies to the market in the fourth quarter, boosting a buildup in inventories, according to the Gulf Oil Review.

August 29, 2012

Oil refinery
11:20 GMT

The United Arab Emirates (UAE) is on track to expand its crude oil production capacity to 3 million barrels per day (bpd) by the end of the year, two industry sources said yesterday.