Oil & Energy

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 Lower oil prices and Western financial sanctions imposed over the Ukraine crisis will cost Russia around $130-140 billion a year.
November 25, 2014 - 21:20 GMT
“We’re losing around $40 billion a year because of geopolitical sanctions."

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.

Zanganeh visited Qatar and Kuwait last week, ahead of the meeting, in a bid to win support for action to stabilise oil markets.
04:55 GMT

Iran’s oil minister accused some countries on Sunday of making up excuses to justify their refusal to stabilise prices by cutting output.

November 16, 2014

Burhan Al Hashemi, Managing Director – ENOC Retail, and Taleb Al Saleh, Director – ENOC Retail Operations & Marketing, receive the ‘Most Admired Retailer of the Year – Food & Grocery’ honour for ZOOM at the Retail Middle East Awards 2014
11:12 GMT
(press release)

ZOOM, the convenience store concept owned and operated by ENOC Retail, has won the ‘Most Admired Retailer of the Year – Food & Grocery’ honour at the Retail Middle East Awards 2014.

Jordan Phosphate Mines Company was founded in 1949. (File)
08:17 GMT

Jordan Phosphate Mines Company profits rose by 217.3 percent in the first nine months of 2014 due to maximized operations.

Mr.Hussain Kazim, Senior Manager Corporate Communications at Emarat
07:33 GMT

Emarat’s pavilion at the Abu Dhabi Petroleum Exhibition and Conference (ADIPEC) this year witnessed significant interest from a wide range of visitors.

November 14, 2014

Kuwait plans more than $40 billion of investment to significantly increase its capacity to produce oil and gas
00:39 GMT

The Gulf nation aims to raise the amount of crude oil it can pump by one-quarter, to 4.0 million barrels per day, by 2020.

November 13, 2014

Iran has said the steep fall in oil prices this year is the result of deliberate moves by some exporters who have kept production high to undermine Tehran’s sanctions-hit economy.
18:55 GMT

Zangeneh made a similar plea with the emir of Qatar, Sheikh Tamim bin Hamad al-Thani, during his stopover in Doha on Monday.