Oil & Energy

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One source told The Daily Star that most international oil companies may not rush to bid for available gas blocks if Lebanese politicians failed to iron out all their differences on some articles in the decrees.
Today
Lebanon will once again postpone the gas auction which was scheduled for Aug. 10 as some ministers expressed their dissatisfaction over the state’s share stated in the decrees

July 13, 2014

Iran’s Targeted Subsidy Reform remains one of the most ambitious attempts to reform subsidies in an energy-exporting country.
14:11 GMT

A new IMF paper shows how subsidy reform has recently gained momentum in the Middle East and North Africa and outlines the elements of successful subsidy reform.

Saeed Khoory, Chief Executive Officer of ENOC, presents the cheque for AED 3 million to Yahia Abdullah AlMuaimi, Local Aid Section Head of Red Crescent towards the UAE Water Aid initiative
11:35 GMT
(press release)

Emirates National Oil Company (ENOC) today pledged AED 3 million towards the UAE Water Aid initiative (UAE Suqia), launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum.

Historically, Iran’s economy has been heavily dependent on oil, and the fluctuations of oil prices and exports over the years have directly influenced the government’s budgets and actions.
04:55 GMT

Finance and Economic Affairs Minister Ali Tayyebnia says Iran will no longer promote an oil-based economy even if the economic sanctions which have been imposed against the country are totally lifted.

Efforts to reach agreement on a new government in Baghdad to confront the insurgents have been complicated by the tensions between Maliki and the Kurds.
04:55 GMT

An oil ministry spokesman in Baghdad described the takeover as dangerous and irresponsible and called for the Kurdish forces to withdraw immediately.

A number of foreign partners have reduced investments in the sector for the upcoming period, which will cause average natural gas production to stabilise.
03:14 GMT

Dues owed to foreign oil companies reached a total of $6.3bn this July, compared to $6bn at the end of April.

July 10, 2014

The price spread between the two benchmarks touched the narrowest point in almost a month at $5.20 on Wednesday, driven by speculators dumping Brent.
03:40 GMT

Brent crude oil traded at a one-month low below $109 a barrel on Wednesday after a Libyan oilfield restarted and supply worries faded

July 9, 2014

During the event
09:46 GMT
(press release)

In line with the company’s social responsibility programmes, Oman Oil Company (OOC) announced hosting a book sharing campaign for its employees and the public at its headquarters in Muscat.

July 8, 2014

EMGAS launches Safe Cylinder Safe Family campaign
05:25 GMT
(press release)

Emirates Gas LLC (EMGAS), a wholly-owned subsidiary of Emirates National Oil Company (ENOC), has launched its ‘Safe Cylinder, Safe Family’ campaign along with ENOC and Emirates Petroleum Products Company.

The search for gas has been a priority for Saudi Arabia as it struggles to keep pace with rapidly rising domestic demand.
00:44 GMT

Royal Dutch Shell is ending investments in a gas development project in Saudi Arabia, complicating the top oil exporter’s efforts to exploit its huge gas reserves.

July 7, 2014

During the event
11:51 GMT
(press release)

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, received a delegation from Commercial Bank of Dubai (CBD) including Peter Baltussen, CEO, and Yaqoob Yousuf Hassan, Deputy CEO.

Yemen's income from oil exports tumbled by over 64 per cent to $73.4 million in May from a year ago,
04:55 GMT

Sanaa's finances have deteriorated as it has been caught in a nationwide fight against al Qaeda militants and other rebel groups.

Disruptions linked to engineering or geopolitics have plagued global oil producers in recent years.
02:01 GMT

The US has overtaken Russia and Saudi Arabia to become the largest producer of crude and natural gas liquids (NGLs) in the past six months.

July 6, 2014

Samsung Gear 2 app for smart watches
07:37 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) has launched its application for Samsung Galaxy Gear 2 smart watches.

July 4, 2014

Taking back the two major eastern oil terminals could make around 500,000 more barrels per day (bpd) of crude available for export
01:59 GMT

Thinni said the ports had been reclaimed after an agreement with Ibrahim Jathran, whose fighters had seized the terminals almost a year ago to demand more regional autonomy.

July 2, 2014

ENOC's Ramadan Activities 2014
10:18 GMT
(press release)

Underlining its commitment to the community, Emirates National Oil Company (ENOC) is rolling out a series of charitable initiatives that make a positive difference to the lives of people during the Holy Month of Ramadan.