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.

August 6, 2012

Mutrif Sidiq, spokesperson of Sudan negotiating team.
12:32 GMT

Sudanese negotiating team confirmed that they reached an agreement on oil transportation fees but did not provide further details.

World oil Supply
11:18 GMT

The Organization of the Petroleum Exporting Countries (Opec) oil output fell further from its highest in four years in July as US and European sanctions cut supply from Iran to the lowest in more than two decades, a Reuters survey showed.

August 5, 2012

OPEC
13:38 GMT

The total revenue of the 11 members of the Organisation of Arab Petroleum Exporting Countries (OAPEC) soared to $624.8 billion in 2011, according to the latest data.

Emirates National Oil Company
10:35 GMT
(press release)

ENOC’s second Ramadan Lecture Series featured Dr. Ahmed Al Hadad, the Grand Mufti of Dubai, who underlined the importance that the Holy Month places on acts of charity, sacrifice and generosity.

Shares
09:29 GMT

Shares in Saudi Arabia (SASEIDX), the Arab world's biggest stock market, climbed to a two-month high after oil prices rose and U.S. employment climbed more than economists anticipated.

August 2, 2012

US congress
14:47 GMT

The United States Congress overwhelmingly passed a new package of sanctions against Iran on Wednesday that aims to punish banks, insurance companies and shippers that help Tehran sell its oil.

Crude oil
13:25 GMT

Crude oil prices slogged higher Wednesday with prices at the lower end of an $88 to $92 plateau that has been steady since mid-July.

EQUATE Petrochemical Company
09:10 GMT
(press release)

EQUATE Petrochemical Company said that it has shutdown one of its Ethylene Glycol units with a total capacity of 550,000 MTA.

August 1, 2012

Dirham Wa’Bas charity drive campaign
10:15 GMT
(press release)

Tasjeel, a joint venture of ENOC, is partnering with Dubai Autism Centre during the Holy Month of Ramadan for a charitable initiative.

July 31, 2012

Oil
13:45 GMT

Oil fluctuated in New York as European economic confidence worsened in July amid speculation that European policy makers will act to resolve the region's debt crisis.

EQUATE Petrochemical Company
11:03 GMT
(press release)

EQUATE Petrochemical Company said that it extinguished a limited fire earlier this morning.

July 30, 2012

EDL's part time workers are not willing to end the strike until all demands are met.
19:16 GMT

The committee of Electricite du Liban contract workers announced Sunday that a new round of talks with officials would begin this week.

Giving dates and water during Ramadan has been an ENOC/EPPCO tradition for more than a decade
09:39 GMT
(press release)

For a healthy way of breaking the fast during the Holy Month of Ramadan, Emirates National Oil Company (ENOC) has partnered with Alokozay to roll out a “Dates & Water” Iftar pack campaign.

July 29, 2012

Oil Tanker
09:08 GMT

Iran is expanding its insurance on its fleet of 47 oil tankers through a multi-billion-dollar line of credit as it seeks to get around European Union (EU) sanctions crimping its crude exports, reports said yesterday.

EMGAS Free LPG Campaign
07:47 GMT
(press release)

Emirates Gas, a subsidiary of Emirates National Oil Company (ENOC), will roll out several charitable activities aimed at supporting the local community.