A new report by countries by the World Economic Forum has criticized the OPEC-member countries of failing to adjust to the changing energy architectures and renewable energy sources. None of the member countries have made it to the top 50...
First came the announcement this week by Shell senior executives that oil extraction in the Arctic would be postponed for the second year in a row, and second is yesterday’s announcement foreshadowing the company’s plan for the future, Shell...
For decades, we have measured fuel economy and miles traveled by car or truck in the familiar miles traveled per gallon of gasoline, or MPG. Some nations don’t use miles as they use the metric system and distance is measured...
New projects, worth an estimated combined USD 6.8 billion, are being launched to boost solar power in the Middle East. A total of ten projects, based in the UAE, Kuwait, Oman, Egypt, Jordan and Morocco, will harness the enormous potential...
Siemens, the global powerhouse in electronics and electrical engineering operating in the energy, infrastructure and cities, industry and healthcare sectors, has signed a complete turnkey solution contract with Qatar Steel Company to build a high-voltage substation. The 220/66/33-kilovolt (kV) substation...
Emirates National Oil Company (ENOC) has signed a contract with the Qatar International Petroleum Marketing Company Ltd. (Tasweeq) for the supply of 20,000 barrels per day of condensate for its Jebel Ali refinery. The annual contract underlines the commitment of...
The Big 3 - General Motors, Ford and Chrysler have always ruled the roost in the history of the American automotive industry. It began in the 1890's in the U.S. and grew to become one of the largest industries...
An Integrated Planning and Performance Management Approach – The Key to Success for the Middle East’s National Oil Companies In light of the oil industry's increasingly challenging business environment, Booz & Company assess the pivotal need for NOCs in the...
“Within 6 hours deserts receive more energy from the sun than humankind consumes within a year” – Dr. Gerhard Knies An energy rich region as the Middle East and North Africa (MENA), with one of the largest oil and gas...
Greenhouse gas is a catch-all term used to describe a class of gases -- either naturally-occurring or man-made (anthropogenic) which have a detrimental effect on the Earth’s atmosphere. It is no longer in academic dispute that any upset to...
  The U.S. will surpass Saudi Arabia and Russia this year to become the largest producer of liquid fuels (oil, natural gas and biofuels), according to the latest report by the British oil major BP. In November 2012, the International Energy...
The UAE announced the formal ratification of its headquarters agreement with the International Renewable Energy Agency (IRENA), confirming IRENA's position as the global hub for renewable energy, and the first international organisation headquartered in the Middle East. The announcement was...
The Middle East and North African (MENA) countries are expected to pump nearly $250bn into power projects over the next five years to expand generation capacity and meet the growing domestic demand. This was disclosed by the organizers of the...
Saudi Aramco, the Saudi oil giant, is making active efforts to explore and develop new gas reserves to meet the growing demand for electricity in the kingdom. According to Petroleum and Mineral Resources Minister Ali Al-Naimi, "King Abdullah has given...
The world energy industry is suddenly transforming into something very different from the industry we have grown accustomed to over the past decades. It used to be, pump and burn more oil, mine and burn more coal and build...
In past decades, oil wells were considered ‘spent wells’ when only one-third of their total volume was pumped to the surface for our use. It turns out that the astonishingly-high energy costs to pump crude oil from the bottom two-thirds...
British oil and gas giant BP has agreed to sell its 34.3 per cent stake in the Yacheng gas field to Kuwait Foreign Petroleum Exploration Company (KUFPEC). The gas field, located in the South China Sea, has been sold...
Tehran is going to keep on producing uranium enriched to a 20 percent purity level in reaction to the demands of  Western countries. This was disclosed by Fereydoun Abbasi, Director of Atomic Energy Organization of Iran. It is worthwhile pointing...
UAE and Russia sign cooperation agreement in the field of peaceful nuclear energy The UAE and the Russian Federation have signed a bilateral cooperation agreement in the field of peaceful nuclear energy. The agreement was signed in Abu Dhabi at the...
Neutral Fuels, Dubai based company has signed an agreement with McDonald's Australia to launch a new biodiesel processing facility in the state of Victoria.Based in Dandenong, new facility situated just outside of Melbourne, will see the conversion of waste...
Italy's Eni is all set to invest $8 billion in Libya in the next 10 years to develop its upstream business.This move is widely been seen as a routine to gain more ground in Libya as a leading international...
It is estimated that Iran has exported 22 billion dollars worth of non-oil commodities during the period from Mar 20- Nov 21,despite the sanctions. Einollah Mohammadkhani Ghiasvand, who directs the secretariat of Supreme Council for Non-oil Exports, said the...
For almost 3 decades the Kingdom of Saudi Arabia has been the dominating the world oil markets. It literally holds the global spare production capacity.But according to analysts, this  monopoly will soon be coming to an end.It's biggest challenge...
Global utilities, energy players line up at Middle East Electricity 2013 as GCC power demand growth gets set to triple in next 25 years Dubai, UAE, 9 December: A fresh flow of GCC construction contractor awards for new power and...
The Middle East and North Africa (MENA) region is a gold mine waiting to happen. It is reported that the MENA gas wealth could last over 30 years. That is encouraging news for the region. Major Gulf players and...
The UAE Deputy Economy Minister Mohammed Ahmed Bin Abdul Aziz Al Shihhi said during a joint business forum in Baku on Wednesday his country's investments in Azerbaijan's economy exceeded $200 million. "There is great potential for development of cooperation between the...
Forecasts by the International Energy Agency (IEA) on Monday said the United States will overtake Saudi Arabia and Russia as the world's top oil producer by 2017. The Paris-based energy organisation predicted that Washington will come very close to achieving a...
Iran announced on Monday it will make investments worth $200 million in Venezuela to build four oil reservoirs and refineries for storing and refining oil products. Semi-official Fars News Agency reported that in addition to the deals, Iran will also design...
Algeria announced on Sunday it will go ahead with plans to develop its shale gas reserves which are thought to be around 600 trillion cubic feet (17 trillion cubic metres), around four times greater than its current known gas reserves....
Abu Dhabi National Oil Co (ADNOC) director general announced on Sunday the company will present the current structure of its oil and gas concessions in the United Arab Emirates to the Supreme Petroleum Council of Abu Dhabi by early...
Egypt has granted its first post-revolution exploration licences to Royal Dutch Shell, RWE and TransGlobe Energy, a Reuters report said on Thursday. The country's government is struggling to make payments to its foreign energy producers to which it owes at...
The Iranian parliament's Energy Commission is set to announce new measures that will reduce the country's crude exports to deflect Western sanctions on the oil sector, Fars news agency reported Thursday. The directives of the bill are part of Iran's...
Iraq announced on Monday it has signed a final gas exploration contract with Pakistan Petroleum to explore gas block 8, covering an area of 6,000 square km in Diyala and Wasit provinces in eastern Iraq. Iraq, holder of the world's 10th-largest...
Algeria’s state-run energy group Sonatrach boss on Sunday announced plans to invest $80 billion in oil and natural gas projects during the next four years. Addressing a news conference in Algiers, chief executive officer Abdelhamid Zerguine said the company will spend $14 billion...
South Korean engineering giant Samsung announced on Thursday it had secured rights to build plants worth $2.48 billion in Abu Dhabi. A deal was signed on Wednesday between the state-owned Abu Dhabi Oil Refining Co., a subsidiary of Abu Dhabi...
The German, French, Italian, Spanish and Moroccan governments are pushing forward their green solar energy “Desertec” project, exclusive information obtained by a German newspaper revealed on Thursday. According to Süddeutsche Zeitung, the biggest selling national newspaper in Germany, electricity produced by a solar...
  A senior British Petroleum official on Thursday announced the resumption of oil exploration activities in Libya and said the oil giant will drill 17 new exploration wells in the North African nation. Exploration activities were suspended in Libya last year...
Japan's crude oil imports from Iran in September dropped more than a third from a year earlier amid deepening Western sanctions, data released by the trade ministry showed on Wednesday. Tehran is under intense financial pressure from US and the...
A US Energy Department official said on Sunday that excluding Iran from the global oil market would increase the shortfall between worldwide supply and demand based on September and October production and consumption estimates. According to the department’s Energy Information Administration report...
Tehran announced on Saturday it plans to invest $250 million in the Pakistani side of a gas pipeline project which will export Iran's  gas to Pakistan, Fars news agency quoted an informed source as saying. The report added that...