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.

Today

 Global supply of crude oil and liquid fuel reached all-time highs of 92.6 million barrels per day in August. Stable oil producers.
11:46 GMT

A key differential factor in this period in that ‎volatile producers in Africa and the Middle East experienced a spike in production.

Students of University of Wollongong – Chinese Campus with officials of EMGAS in Dubai
11:21 GMT
(press release)

Emirates Gas, a subsidiary of the Emirates National Oil Company, hosted a delegation of students from the University of Wollongong – Chinese Campus to educate them on the operations, products and services of EMGAS.

Egypt has struggled to curb its swelling budget deficit whilst meeting soaring energy demands, resulting in daily electricity cuts around the country of 86 million people.
04:55 GMT

Egypt has struggled to curb its swelling budget deficit whilst meeting soaring energy demands, resulting in daily electricity cuts around the country of 86 million people.

September 29, 2014

The Egyptian General Petroleum Corporation (EGPC) and Egas announced an international tender for oil and gas drilling concessions last December.
16:26 GMT

French oil company Total has been awarded a licence to explore for natural gas in the Nile Delta,

Saeed Khoory, Chief Executive Officer of ENOC
10:08 GMT
(press release)

Emirates National Oil Company (ENOC), through its Retail subsidiary has introduced iDeal, a value-added voucher book that entitles customers to over AED 1,000 in complimentary vouchers for the price of only AED 50.

During the event
06:18 GMT
(press release)

Oman Oil Company S.A.O.C. (OOC), the Sultanate’s energy investment arm, signed a $1.85 billion Revolving Credit Facility (RCF) with 16 local, regional and international banks.

September 25, 2014

Saudi Arabia sent Egypt $3 billion worth of refined oil products from April up to the first week of this month, an official from Egypt’s state oil company told Reuters on Thursday.
23:51 GMT

The petroleum aid has not, however, managed to noticeably ease Egypt’s energy frequent power cuts, even in upscale areas.

The round-the-world tour is expected to take 25 flying days over a period of four to five months.
16:03 GMT

The goal is to promote technological values together to preserve the planet’s resources, in a bid to encourage political leaders and organisations to adopt cleaner and more efficient technologies.

September 24, 2014

Europe does not have the infrastructure to accept LNG in major quantities.
13:04 GMT

Qatar is the world's largest producer of liquefied natural gas (LNG).

Oman Oil Marketing at Oman Green Awards 2014
05:26 GMT
(press release)

In partnership with Oman Green Awards, Oman Oil Marketing Company (omanoil) honored visionary corporations and individuals who have set the country’s environmental benchmark with pioneering conservation practices.

September 21, 2014

Egypt has signed oil and gas exploration deals worth $187 million with several Western companies and a Tunisian firm to cover seven exploration areas.
04:55 GMT

Exploration companies have been hesitant to develop untapped gas finds in Egyptian waters partly because the amount the government pays them barely covers their investment costs.

Qatar Petroleum (QP) and Qatar Petrochemical Company (QAPCO) signed an agreement in February 2012 to jointly develop the Al Sajeel mega-petrochemical complex in Ras Laffan
04:55 GMT

The Al Sejeel petrochemical project, one of the world’s largest mixed-feed steam crackers, was scheduled for completion in 2018 as part of Qatar’s large-scale expansion of the petrochemicals sector.

September 19, 2014


Brent November crude slipped 8 cents to settle at $98.97 a barrel, recovering from an intraday low of $98.51 on Wednesday in London.Brent November crude slipped 8 cents to settle at $98.97 a barrel, recovering from an intraday low of $98.51 on Wednesday in London.
03:06 GMT

Prince Abdulaziz Bin Salman Bin Abdulaziz, Assistant Minister of Petroleum and Mineral Resources for Petroleum Affairs, dismissed arguments that lower oil prices will cause the collapse of GCC economies.

September 18, 2014

During the event
11:28 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) has organised a Sports Day for its staff in collaboration with Dubai World Trade Centre.

During the event
06:08 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) today held a conference for qualifying international developers who intend to send their proposals for the Hassyan project to produce 1,200 MW of electricity using clean coal.