Oil & Energy

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Of 2,000 Israeli factories that could switch to natural gas and reduce their production costs, only eight are currently connected to the natural gas supply.
January 28, 2015 - 14:35 GMT
Bureaucratic wrangling and ever changing regulations are frustrating what could be Israel's natural gas revolution.

Today

Analysts said the outlook remained weak, especially with demand slowing in China.
15:31 GMT

Oil remained weak in Asia on Thursday after data showing record US stockpiles sent prices tumbling to the lowest level in nearly six years.

Simon Mellor
10:39 GMT
(press release)

dmg events, an international exhibition company, has announced the launch of the Middle East Heavy Oil Congress in partnership with the National Oil and Gas Authority (NOGA), Bahrain’s leading government organization for oil and gas.

Shell is one of the main major oil companies operating in south of Iraq, operating the Majnoon oilfield and leading the Basra Gas Company joint venture.
05:55 GMT

Royal Dutch Shell has signed a deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra.

January 28, 2015

The main failure, according to the letter, is the unique indexing mechanism put in place in Israel that will mean that gas prices will only rise.
15:35 GMT

The price of gas in Israel is currently linked to the US and Israeli consumer price indexes plus 1%, for eight years.

He said Iraq’s budget for 2015 had determined an average oil price of 60 dollars per barrel, down from 90 dollars per barrel in the budget for the previous year.
15:16 GMT

Iraq has offered discounts to European purchasers of its oil in February, similar to those offered by Saudi Arabia, amid signs of intense competition between OPEC’s two largest producers.

Jordan seeks to buy 150 million cubic feet of natural gas per day from Cyprus, he said, adding that prices will be announced later
14:23 GMT

Jordan will sign an agreement to purchase natural gas from Cyprus before the end of June this year, according to a senior government official.

Dubai Supreme Council of Energy signs  MoU with UNIDO to develop renewable energy and energy efficiency in GCC
10:54 GMT
(press release)

The Dubai Supreme Council of Energy has signed a three-year renewable Memorandum of Understanding (MoU) with the United Nations Industrial Development Organisation (UNIDO) to promote collaboration in renewable energy, energy efficiency, and to develop sustainable energy projects and programmes to be a platform for knowledge exchange about sustainability.

DEWA stand at WETEX
05:20 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) will organise a number of seminars during the Water, Energy, Technology, and Environment Exhibition (WETEX 2015).

Since the deal with Hoegh was finalised, Egypt has signed a deal with Algeria for six LNG cargoes and expects to complete an agreement with Russia's Gazprom later this month.
04:55 GMT

Egypt's state gas board has awarded a $2.2 billion tender to import 75 cargoes of liquefied natural gas (LNG) to four international firms.

Saudi Aramco will renegotiate some contracts and postpone some projects due to falling oil prices, the head of Saudi Arabia's state oil company said on Tuesday.
04:55 GMT

Saudi Aramco will renegotiate some contracts and postpone some projects due to falling oil prices, the head of Saudi Arabia's state oil company.

January 27, 2015

"Maybe we will go to $200 if there is a real shortage of supply because of the lack of investment," OPEC's secretary general added.
15:05 GMT

Oil's decline in 2014 was its second-biggest ever, after the collapse in 2008 which followed the record high.

Khalid Saad, Marketing & Sales Manager of EMGAS
12:30 GMT
(press release)

Emirates National Oil Company (ENOC) and its subsidiary Emirates Gas (EMGAS) co-hosted the first Middle East LP Gas Summit to promote the safe use of Liquefied Petroleum Gas (LPG) in the Middle East.

January 26, 2015

During the event
11:05 GMT
(press release)

EQUATE Petrochemical Company hosted a number of leaders from Kuwait Petroleum Corporation (KPC) & Subsidiaries during the company’s world record breaking Turnaround (TA).

ENOC - EMGAS implements change over in the LPG cylinder valve in UAQ
08:48 GMT
(press release)

Following a decision by the Undersecretary of the Ministry of Interior and in conjunction with the Civil Defence of Umm Al Quwain, domestic gas users in the northern emirate of Umm Al Quwain will have new LPG cylinder valves.

During the event
08:04 GMT
(press release)

Dubai Electricity and Water Authority (DEWA) officially launched the Strategy Pioneers Group in the presence of the Group’s founding partners, at a meeting held at Park Hyatt Dubai.