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.
November 26, 2014 - 12:17 GMT
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.

November 27, 2014

"The power of convincing will prevail tomorrow... I am confident that OPEC is capable of taking a very unified position," Naimi said
12:30 GMT

While the statistics speak in favour of a cut, the buildup to the OPEC meeting has seen one of the most heated debates in years.

During the event
09:55 GMT
(press release)

Emirates National Oil Company (ENOC), a wholly-owned entity of the Government of Dubai, celebrated the 43rd UAE National Day with a colourful showcase of traditional activities that highlight the ‘Spirit of the Union’.

November 26, 2014

Venezuela, a noted price hawk, would try for an output agreement within OPEC on Thursday instead.
19:28 GMT

Impromptu talks between Saudi Arabia, fellow Organisation of Petroleum Exporting Countries (OPEC) member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday.


Key will be what the club's biggest producer and exporter Saudi Arabia decides.
12:09 GMT

Brent crude oil prices started Tuesday's Asian trading under $80 a barrel as traders lowered their expectation of a significant output/

The firm will be charged with "corruption of foreign public officials",  in a case that dates back some 20 years.
11:33 GMT

The charges concern alleged bribes made to officials to secure rights to Iranian gas and oil fields in the 1990s and 2000s.

During the event
10:12 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) has today organised the 4th Creativity and Innovation Conference.

November 24, 2014

ENOC opens third ZOOM outlet in Dubai Healthcare City
05:19 GMT
(press release)

Emirates National Oil Company has further strengthened its network of ZOOM convenience stores in Dubai with the opening of a brand-new outlet in Dubai Healthcare City at Mohammed bin Rashid Academic Medical Center.

November 23, 2014

During the event
11:38 GMT
(press release)

HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) inaugurated the Health and Safety Week, which DEWA is organising from 23-27 November 2014.

Mr. Abdulla Hassan Al Noman, Senior Manager Retail Operations at Emarat
09:51 GMT

With a Theme called "LUXGEN at Emarat", Emirates General Petroleum Corporation "Emarat" launched a new promotional campaign aiming to enhance winning opportunities for the shoppers at Emarat Service Station.

The President & CEO of EQUATE Petrochemical Company Mohammad Husain
09:16 GMT
(press release)

The President & CEO of EQUATE Petrochemical Company Mohammad Husain said that despite challenges, Gulf’s petrochemical and chemical production was over 140 million metric tons (MT) during 2013.

 
Total cost would be between $1.5-$2 billion, the company said, and supplies to Egypt would start flowing in 2017
04:55 GMT

Israel's offshore Tamar gas field may get a $1.5-$2 billion upgrade, including the construction of an underwater pipeline to an export plant in Egypt.

November 19, 2014

Dr. Rahma bin Mohammed Al Shamsi and Abdulraoof Abdul Aziz with the honorees staff
10:16 GMT

Dr. Rahma bin Mohammed Al Shamsi, Retail Sales Director at Emirates General Petroleum Corporation “Emarat”, honored two employees at Shamil Vehicles Testing and Registration Services.

November 18, 2014

Elsalamawy said that he was unable to confirm the figures but stated that “Solar energy does not constitute a significant portion of the energy in Egypt”.
18:47 GMT

Egyptian electricity production generated from solar energy dropped by 48% in 2012/13 compared to the year 2011/12.

China will double its investment in Iran's energy projects, an Iranian official said Sunday.
17:58 GMT

Faced with tough international financial penalties, Iran has turned in recent years to China, Russia and Turkey to finance major projects.

November 17, 2014

The 12-nation OPEC group, including the world's biggest crude producer Saudi Arabia, will meet on November 27 in Vienna
22:32 GMT

He said he expected OPEC members to stick with the current output ceiling.