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 15, 2014

Current desalination techniques are typically very energy intensive: energy consumption can account for up to 70 per cent of the desalination costs
12:26 GMT
(press release)

GE ecomagination and Aramco launched an open global technology challenge to accelerate the development of solutions focused on improving energy efficiency of seawater desalination.

Big move: Oman government and BP in a joint collaboration (FIle/AFP)
11:14 GMT

Oman's government and BP signed a contract to develop the Khazzan gas field of Block 61 and will be completed by 2017.

Oil prices received an additional boost following delays in resuming oil exports from Libya.
03:55 GMT

Crude oil futures rose to the highest level in five weeks on Monday as heightened tensions over unrest in eastern Ukraine fuelled concerns over potential supply disruptions.

April 14, 2014

Kuwait's refining capacity will reach over 1.4 million bpd from the current level of 930,000 bpd, when the projects are completed.
18:45 GMT

The contracts mark the first mega project in the OPEC member's vital oil sector for 25 years.

Iran will build six oil refineries in Indonesia's Benten and West Java regions (File Archive)
11:00 GMT

Iran has agreed with Indonesia's leadership to construct six oil refineries in the Asia Pacific country.

“We will focus on the country’s historic strategy, which is to supply international markets with oil, especially the challenges facing the market as well as the future role of the member states of Opec.”
03:55 GMT

The UAE is set to raise its production capacity to 3.5 million barrels per day aimed at keeping a market balance.

April 13, 2014

Saeed Khoory, CEO of ENOC and Board Member of the Dubai Supreme Council of Energy, said: “WETEX is a flagship event that highlights the thought leadership of Dubai in promoting energy and water use efficiency
15:29 GMT
(press release)

Emirates National Oil Company (ENOC) is putting the spotlight on its sustainable development initiatives and its advanced technology introductions.

Oil is a big contribution to Iraq's economy (File/AFP)
15:00 GMT

Iraq's Ministry of Oil is planning to export 300 oil barrels internationally.

OCTAL PET Complex - Salalah
09:57 GMT
(press release)

OCTAL, one of the world’s largest PET producers and a global leader in the packaging industry, has surpassed the US$ 3 billion dollar mark in sales, a record in the company’s six-year history.

Saeed Khoory, CEO of ENOC
06:40 GMT
(press release)

Emirates National Oil Company (ENOC) is hosting the 22nd annual Middle East Petroleum & Gas Conference (MPGC), the anchor event of the Middle East Petroleum & Gas Week.

April 10, 2014

During the event
12:43 GMT
(press release)

Emirates National Oil Company (ENOC) has underlined its commitment to Corporate Social Responsibility (CSR) by winning the CSR Label Award 2014 presented by the Dubai Chamber of Commerce & Industry.

Dubai is already one of the world’s biggest hubs for commercial aviation, and it will soon become the biggest
08:55 GMT

Two Swiss adventurers plan to start and end their historic round-the-world flight in a solar aircraft from the UAE.

April 9, 2014

The plant will support the expansion of the Zubair oil field near Basra
09:55 GMT

Alstom, a global leader in power generation, has secured a contract worth nearly 400 million euros ($549 million) from Eni Iraq BV to build a 740 MW1 Zubair gas-fired power plant, near Basra in southern Iraq.

Iran and the six powers have yet to agree on the limits that Tehran will have to accept on its enrichment programme
08:55 GMT

Senior envoys from Iran and six world powers met for a new round of negotiations on Tuesday, in an effort to reach a broad agreement on scaling back Iran’s nuclear programme and lifting sanctions by July.

April 8, 2014

Tehran and Moscow are due to finalize an agreement on broader economic and trade cooperation
11:55 GMT

Iran and Russia emphasized finalizing energy agreements between the two sides.