Recent

Participants gather in the lobby ahead of an informal meeting between members of the Organization of Petroleum Exporting Countries, OPEC, in the Algerian capital Algiers. (AFP)
September 23, 2018 - 08:01 GMT
The Opec summit in Algiers on Sunday meets amid widespread fears of a supply crunch when a forecast 1.4 million barrels a day of crude is lost from Iran in November when US sanctions kick in.
David Kalife, CEO of Oman Oil Marketing Company spoke about the company’s transformation.
September 18, 2018 - 11:53 GMT
Building on its continuous success, Oman Oil Marketing Company has made public its organizational road map for the company’s future within the region and internationally.
The current 4.5 million bpd would only increase to 5 million bpd over the next decade. (Shutterstock)
September 18, 2018 - 08:10 GMT
Growth in Iraqi oil production will be squeezed for the next decade despite the country being the second largest OPEC producer after Saudi Arabia and the fourth biggest in the world, according to a report by US consultancy IHS Markit.
OPEC opened the flood gates this summer by increasing crude oil production by 278,000 barrels a day from July to August. (Shutterstock)
September 13, 2018 - 08:09 GMT
After years of holding back, OPEC opened the flood gates this summer by increasing crude oil production by 278,000 barrels a day from July to August.
This long-term supply agreement is the first QPSPP naphtha feedstock sale to an end-user in India, highlighting QPSPP push for more direct sales with established end-users. (Shutterstock)
September 13, 2018 - 07:21 GMT
Qatar Petroleum has signed a three-year sale agreement to supply India’s Haldia Petrochemicals Limited (HPL) in the West Bengal state, with a total of 600,000 tonnes of light naphtha.
Turkish Petroleum Corporation to make investments in Sudan worth $100 million, says agriculture and forestry minister. (Shutterstock)
September 12, 2018 - 07:47 GMT
Sudan and Turkey signed two agreements on oil exploration and agriculture, Turkey's agriculture and forestry minister said on Monday.
Despite the lower purchases, Iran remained the third biggest oil supplier to India in August, the data showed. (Shutterstock)
September 12, 2018 - 07:26 GMT
Iraq replaced Saudi Arabia in August as the top oil supplier to India, data from industry and shipping sources showed, as refiners turned to Iraqi barrels to compensate for a lower intake of Iranian oil ahead of US sanctions in November.
Ahmad Bin Shafar, CEO of Empower
September 11, 2018 - 10:53 GMT
Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has achieved a 4.6% reduction in electricity consumption during the second month of its ‘24⁰C Cool’ campaign.
Qatar is preparing to speed up the growth of its natural gas sector by 30 percent. (Shutterstock)
September 09, 2018 - 09:10 GMT
Qatar is preparing to speed up the growth of its natural gas sector by 30 percent, Minister of Energy and Industry HE Mohammed bin Saleh al Sada has said.
South Sudan seceded from Sudan in 2011 when output peaked at 350,000 bpd. (Shutterstock)
September 06, 2018 - 10:34 GMT
South Sudan expects to reach peak oil output of 350,000 barrels per day (bpd) by mid-2019 as production ramps up at fields that were off line due to violence.
Ahmad Bin Shafar, CEO of Empower
September 02, 2018 - 12:54 GMT
Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, announced the completion of the expansion at its district cooling plant in Dubai International Financial Centre (DIFC), according to the approved time plan in April 2018.
Oman Oil Marketing Company - Road Safety Village.
September 02, 2018 - 12:18 GMT
Under the patronage of His Excellency Dr. Hamoud bin Khalfan Al Harthy, Undersecretary of the Ministry of Education for Education and Curricula, Oman Oil Marketing Company, in collaboration with Oman Road Safety Association launched a Road Safety Awareness Village at Oman Avenues Mall.
Ahmad Bin Shafar, CEO of Empower.
August 29, 2018 - 12:15 GMT
Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, is preparing to host the 8th International District Energy Association (IDEA)’s District Cooling Conference 2018 for the 3rd year.
The King was advised that the IPO would undermine the Kingdom’s economy instead of helping it and their main concern was that it would bring full public disclosure of Aramco’s financial details. (AFP)
August 29, 2018 - 11:37 GMT
Saudi Arabia’s King Salman has shelved Aramco’s IPO plans following the king’s consultations with family members, bankers as well as senior oil executives which include a former Aramco CEO.
Prices had gone up in the month of August as well, compared to the previous month. (Shutterstock)
August 29, 2018 - 11:27 GMT
Prices had gone up in the month of August as well, compared to the previous month.
Aramco is the world's most profitable energy company. With a net income of $33.8 billion in the first half of 2017 before taxes, a considerable amount of the income goes to the government budget, which could change. (AFP)
August 28, 2018 - 10:34 GMT
One explanation for canceling or delaying the IPO is that the capital injection it was expected to generate is less urgent due to a partial recovery of oil prices that now stand above $70 per barrel.