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.

March 19, 2012

The pipeline would extend from oilfields to the capital Juba where the crude would be transferred to trucks and taken on to Kenya and Djibouti
13:37 GMT

South Sudan, locked in a row over oil transit fees with neighbour Sudan, said it plans to build a temporary underwater oil pipeline along the Nile to deliver crude for export.

Iran has threatened to close the Strait of Hormuz if Western moves to ban Iranian crude exports crippled its energy sector
06:53 GMT

Iraq has approved a plan to expand its oil export routes by adding capacity from its northern fields and building a pipeline to ship oil from southern fields to Ceyhan in Turkey.

March 18, 2012

12:02 GMT
(press release)

Oman Oil Marketing Company has teamed up with the Ministry of Education to sponsor a youth football competition, the omanoil Football Tournament for Muscat Schools.

Gas stations owners have been complaining for several months that the quantities of oil derivatives arrive to stations are less than the ordered and paid for quantities
07:24 GMT

Gas stations will stop ordering oil derivatives from Jordan Petroleum Refinery Company (JPRC) as of Thursday amid disputes with Jordan’s sole fuel supplier.

March 15, 2012

 Mohammad Al-Benali, head of EQUATE Corporate Social Responsibility (CSR) Team
10:58 GMT
(press release)

EQUATE Petrochemical Company and Kuwait Association for the Care of Children in Hospitals (KACCH) launched the Painting Smiles exhibition at 360 Mall during March 14-17, 2012.

Gaza is experiencing a major electricity crisis because of a shortage of fuel for its sole power plant
07:42 GMT

The Palestinian energy authority in Gaza said on Wednesday it had paid Egypt $2 million towards fuel for its crippled power station, but had yet to receive anything in return.

March 14, 2012

Oil-importing companies and owners of oil trucks will also join the strike to press the government to increase the surcharge because the current prices of gasoline are eroding their profits
07:59 GMT

Oil strike will demand to hike the surcharge for the transfer of gasoline and oil-related material to compensate for the increase in fuel prices over the past few weeks.

The extra money collected under the raised tariffs will be deducted from the electricity bills of the coming months, according to the government decision
07:33 GMT

The Council of Ministers issued a decision to suspend new electricity tariffs announced in late January that would have raised rates by an average of 9 per cent through May 1.

March 13, 2012

Joe Anis, president and CEO, GE Energy in the Middle East
09:18 GMT
(press release)

GE is highlighting its innovative portfolio of energy and water technology and service solutions for government and private sector customers at the 2012 WETEX conference.

March 12, 2012

ENOC Lubricants & Grease Manufacturing Plant
10:26 GMT
(press release)

Emirates National Oil Company inaugurated its advanced lubricants and grease manufacturing plant in the Fujairah Port, one of the world’s top three ports in bunker fuel supplies and marine vessels transit.

Mr. Hussain Kazim, Manager, Corporate Communications at Emarat
08:47 GMT

Emirates General Petroleum Corporation "Emarat" is sponsoring the Sharjah Police General Directorate’s safety campaign under the title "Don't Make Your Car a Sitting Duck for Thieves".

The project will boost power supply at the Zouk, Deir al-Ammar and Jiyeh plants
07:04 GMT

The Energy and Water Ministry will issue tenders in May for a $1.2-billion project to produce 700 additional megawatts of electricity.

March 11, 2012

During the event
12:52 GMT
(press release)

The Kuwait Engineering competition was concluded for the second year at an awards ceremony..

Emarat employees during blood donation
10:47 GMT

Emirates General Petroleum Corporation "Emarat" organized a blood donation campaign among its employees in aid of Thalassemia patients.

The effects of higher oil prices on Lebanon would further weaken its fiscal and external balance sheets given that the country relies heavily on oil imports
10:13 GMT

Standard & Poor’s estimated that oil importers in the Middle East, especially Lebanon and Jordan, are ill-prepared for a further rise in global oil prices.