Oil & Energy
South Sudan's oil minister said late on Wednesday that it had resumed oil production and flow to the international markets through the territory of neigbouring Sudan after a temporary blockage at Jebellen.
Crude oil prices fell below $100 for the first time since mid-2012 in April on seasonal factors and softening market fundamentals. This was followed by a small rebound in early May, according to NBK’s latest Economic Update.
Emarat has launched a new promotional offer, giving its customers a chance to get a discount of AED 20 on the steam Wash for their vehicles, at any service station that provides this service.
May 22, 2013
Chevron Corp is in advanced talks to sell most of its downstream assets in Egypt and Pakistan, three sources said, with the planned disposals seen raising around $300 million for the U.S. oil major.
A number of MPs expressed mixed reactions over the massive reshuffle on Monday in the oil sector, with some welcoming it and others strongly criticizing it as politically-motivated, while the opposition made no reaction to the changes.
Oman based OCTAL, the world’s largest producer of PET resin and sheet on a single site, has won the highly acclaimed and sought after GCC ‘Mashreq Oil and Gas Project of the Year’ award.
Fasttrack in cooperation with Tibra General Trading Company, has started installing speed limiter devices in the vehicles subject to the Ministerial Cabinet’s Resolution no. 6 of 2011.
May 21, 2013
Benchmark oil for June delivery gained 69 cents to close at $96.71 a barrel on the New York Mercantile Exchange.
Dubai: Dubai Electricity and Water Authority’s conservation initiative saved Dh16 million in electricity and water, it was announced at the eighth Conservation Award for the educational sector.
May 20, 2013
Tasjeel rewards its customers with the launch of a two-month long ‘Weekly Cash Carnival’ promotion.
The Organization of the Petroleum Exporting Countries (Opec) will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in the rest of the year.
Bahrain's real gross domestic product (GDP) is estimated to have expanded 3.9 per cent last year from the 1.9pc growth seen in 2011.
May 16, 2013
Emirates General Petroleum Corporation has launched a new “Spend & Win” promotional campaign to offer shoppers at its various service stations the chance to win valuable prizes.
May 15, 2013
Masdar and the Export Import Bank of the United States signed a Memorandum of Understanding in which they will explore opportunities to structure and deploy up to $ 2bn worth of Ex-Im Bank’s finance supporting U.S. exports to Masdar’s future projects.
UAE researchers have discovered the oil extracted from microalgae as a promising alternative to diesel, saying it can run motor engines effectively without any modifications.