Oil & Energy

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if Opec wants to do a quick fix it could agree on a sharp reduction in output until a balance between supply and demand has been re-established.
Cutting production by significantly more than the 0.5 to 1 million barrels, which is currently expected, may help trigger a rally in the market.

May 23, 2012

During the training
10:23 GMT
(press release)

Emirates Gas, a wholly-owned subsidiary of ENOC, recently conducted an LPG Safety & Awareness training programme at the National Institute for Vocational Education.

The price of 98-octane graded fuel now stands at LL36,000 while the price of 95-octane graded fuel is LL35,300
09:07 GMT

The price of 20 liters of gasoline declined by LL1,000 and that of diesel by LL 500 from last week's price.

May 22, 2012

Bahrain is focusing on upgrading the energy sector, diversify revenues and promote the Kingdom's status as a major investment destination.
12:49 GMT

Bahrain is currently under expansion of the refining and petrochemical industry by conducting more excavation and exploration operations.

During the visit
07:54 GMT

A delegation from Abu Dhabi National Energy Company has made a formal visit to Turkey to discuss ways of developing the relationship between Abu Dhabi and Turkey and to identify investment opportunities in Turkey’s energy sector.

Mr. Ahmad Ayyash, general manager Fasttrack
06:10 GMT

Fasttrack service center for the repair and maintenance of vehicles, which belongs to Emirates General Petroleum Corporation has started providing the service of vehicles' glass repair and replacement.

May 21, 2012

RAK Petroleum
13:18 GMT

RAK Petroleum Public Company announced net profits of AED 81.3 million for the quarter ended 31 March 2012, continuing the Company’s profitability into the fourth consecutive year.

ENOC’s AutoPro
11:28 GMT
(press release)

AutoPro, ENOC’s professional vehicle care and services unit, is showcasing its spectrum of service offerings at the tenth Automechanika Middle East.

RAK Petroleum
06:10 GMT

RAK Petroleum Public Company Limited, the energy investment company, announced that it reached common ground with representatives of a Norwegian group known as the ”DNO Initiative”.

May 20, 2012

Oil has plunged 12 percent this month to about $92.50 after Iran and the six world powers resumed talks in Istanbul last month
13:22 GMT

Oil prices might go as high as $160 per barrel if the European Union goes ahead with a July 1 embargo.

During the event
07:36 GMT
(press release)

Masdar has won the coveted award for ‘Best Contribution to the Reputation of Procurement Profession’ at the CIPS MENA Supply Management Awards 2012.

EMGAS Training Programmes at Al Manzil Hotel
06:29 GMT
(press release)

Emirates Gas, has unveiled a series of dedicated training programmes for various stakeholders in line with its corporate social responsibility.

Landmark Group
05:48 GMT
(press release)

Bunkering is a major industry in the Red Sea and Gulf region, as international freight passes through the global shipping artery of the Suez Canal.

May 16, 2012

GECF comprises 11 of the world's leading natural gas producers - Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago and Venezuela
13:31 GMT

The UAE has won cabinet approval to join the Gas Exporting Countries Forum (GECF), an intergovernmental organization of the world's leading gas exporters.

Fuel oil and diesel in Lebanon declined by LL400, becoming LL28,000 and LL28,1000, respectively
10:45 GMT

The price of gasoline dropped sharply by LL1,100 Wednesday, marking the biggest weekly decline this year, according to the Energy and Water Ministry.

Dow Chemical Company
09:35 GMT
(press release)

Dow Heat Transfer Fluids, a global business unit of The Dow Chemical Company, is seeking to target the growing market for solar power in the Middle East.