DUBAI: Reza, an Iranian businessman in his mid-30s, moved to Dubai 10 years ago to make his fortune. For a while, he succeeded — annual sales at his machinery trading firm reached $70 million. Over the past 18 months, most of what he built has (...)
DUBAI: The emirate of Dubai on Monday unveiled plans to build a 12 billion dirham ($3.27 billion) solar energy park, with potential capacity of 1,000 megawatts (MW) as part of its efforts to reduce its energy reliance.
Under Dubai's Integrated (...)
VIENNA: OPEC oil producers on Wednesday sealed their first new production limit in three years in a deal that settles a 6-month-old argument over output levels firmly in Saudi Arabia's favor.
The Organization of the Petroleum Exporting Countries (...)
DUBAI/LONDON: Pipeline bombings by Islamist groups have cut off Israeli gas supplies from Egypt, forcing the Jewish state to seek up to one million tons of gasoil on the international market to secure its national energy needs for 2012.
Flows (...)
DOHA: Egypt's state-owned gas company Egas plans to hold a bidding round for natural gas exploration early next year, the petroleum minister said on Monday.
In October, the Egyptian General Petroleum Corporation (EGPC) said it would hold its (...)
DUBAI: Dana Gas, the Gulf's only listed natural gas company, said on Tuesday it has made a new gas discovery in Egypt, the company's fifth gas find in the country.
"A preliminary estimate of the discovered reserves in the new pool (El Wastani (...)
ABU DHABI: Occidental Petroleum will have a 40 percent share in the Abu Dhabi National Oil Company's (ADNOC) Shah gas project, United Arab Emirates' state news agency WAM said on Thursday.
Occidental Petroleum has won the contract develop Abu (...)
DUBAI: Supply tightness kept gasoline and naphtha premiums firm in the Middle East, with traders seeing no sign of easing until early 2011 on the back of continuing refinery maintenance shutdowns.
Outages in Kuwait and Oman have tightened up the (...)
DUBAI: From India to Poland, investors are tempted by the promise of lucrative returns in Afghanistan's mining and energy industry, but most say they will see how a raging insurgency plays out before putting down their money.
Afghanistan is (...)
LONDON: Iran's assertion that it has side-stepped some international sanctions and become self-sufficient in gasoline is political propaganda, experts say, but it could become a reality as early as 2013.
U.S.-led sanctions have scared off Iran's (...)
CAIRO: Egypt is likely to launch a second tender round just before the end of this year to choose from 10 firms short-listed to build its first private wind farm, a World Bank energy specialist said on Tuesday.
In the first round, Egypt (...)
CAIRO/DUBAI: Egypt and Saudi Arabia will drive growth in steel consumption this year in the Middle East and North Africa region, where booming construction and infrastructure spending will lift demand.
But demand in Dubai, once a major powerhouse (...)
CAIRO: Egyptian fuel subsidies will likely climb to LE 66 billion ($12 billion) in the current fiscal year to June 30, the oil minister said on Tuesday.
The government has said it wants to better target subsidies to the most needy in a country (...)
CAIRO: Egypt is targeting to start an international bidding process to grant cement licenses by the middle of this year, the head of the country s Industrial Development Authority (IDA) said on Monday.
We re presenting the case to the High (...)