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.

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

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.

April 15, 2012

Kuwait Energy Company
13:25 GMT
(press release)

Kuwait Energy announced a new exploration success with their West Ahmad-1X oil well, located in Area A in the Gulf of Suez, Egypt, adjacent to the Shukheir North West Field.

The employees want the company to raise their basic salaries
07:36 GMT

An ongoing, open-ended strike by electricity workers is hurting the company’s finances.

April 12, 2012

Liquid gas would be delivered to a freighter rented at a cost of around $100,000 per day
08:19 GMT

Jordan and Qatar held further talks on a potential gas deal as to wean the Kingdom off of unstable Egyptian gas supplies.

April 11, 2012

During the honoring ceremony
09:52 GMT

Mr. Abdulraoof Abdul Aziz, Manager, Dealer Sales Operations at Emirates General Petroleum Corporation, praised the corporation’s employees at various stations in Dubai and the Northern Emirates.

IMF expects UAE’s output at 2.6 mbpd and crude prices at record $122 bn
07:01 GMT

The UAE’s hydrocarbon export earnings are expected to climb to their highest ever level of more than $122 billion in 2012.

April 10, 2012

Gasoline prices soared to record levels last week with 98- and 95-octane graded fuel both rising by LL700
12:08 GMT

Lebanon’s public transportation unions said Monday they would proceed with a strike scheduled for April 19.