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Oil and Renewables

Oil and Renewables latest

Brent crude
March 3rd, 2026 - 08:24 GMT
Sally Shakkour

Sally Shakkour

Brent crude jumps by 4% to $81 per barrel

ALBAWABA - Brent crude increased by over 4 percent, hitting $81 per barrel in afternoon trade in Asia on Tuesday amid intensive attacks in the Middle East. Around 0800 GMT, Brent was trading up 4.41 percent at $81.17 per barrel, while West Texas Intermediate was up 3.99 percent at $74.07 per barrel, AFP reported Tuesday. Nonetheless, European gas prices also recorded an increase of another 30 percent on Iran.
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The move is aimed at increasing the capacity of the facility to 120,000 barrels per day (bpd). (File photo)
May 9th, 2017 - 11:30 GMT

Jordan, Honeywell Sign $1.6-Billion Deal to Expand Zarqa Refinery

Nearly 100 years have passed since Saudi Arabia’s founder King Abdulaziz first urged Saudi citizens to start investing in oil-giant company Aramco. (Alriyadh)
May 7th, 2017 - 06:00 GMT

Saudi Arabia's Founding Father Foresaw Aramco’s Value 100 Years Ago

Kuwait Energy expects to raise around $150 million from the IPO, which is expected to start trading in June.
 (Shutterstock)
May 4th, 2017 - 08:21 GMT

Kuwait Energy Files for Listing on London Exchange in OPEC first

An Egyptian man loads gas cylinders onto a truck to be refilled at a warehouse in Cairo, Egypt, on September 11, 2016. (AFP/ File)
May 4th, 2017 - 04:00 GMT

'Egypt Will Achieve Gas Self-Sufficiency by 2018, Surplus by 2020,' Says Minister

The Organization of Petroleum Exporting Countries (OPEC) reached a deal to cut global oil production by 1.2 million barrels per day to balance an oversupplied market through managed production declines. (AFP/ Yasser Al Zayyat)
May 3rd, 2017 - 12:00 GMT

Kuwait Petroleum Reports $715 Million Net Profit Despite Competition, Oil Turbulence

The Iran Oil Show 2017 will kick off in capital Tehran on May 6, 2017, with a total number of around 4,000 exhibitors from 37 countries, including the US, Germany, Russia, and China. (AFP/ Eric Piermont)
May 2nd, 2017 - 01:20 GMT

Iran Gears Up For Giant Oil and Gas Show With Exhibitors From US, Russia, China and EU

Oman Oil Marketing Company Acting CEO Hussain bin Jama Al Ishaqi joined some of the world’s most renowned entrepreneurs as a panelist at the 5th Africa Business Forum.
April 30th, 2017 - 08:15 GMT

Oman Oil Marketing Company joins region’s leading companies at the 5th Africa Business Forum

Iran’s Ghadir electricity and energy company and Greece’s Metka engineering firm cooperated over the project that took seven months to complete through an investment of around $15 million. (File photo)
April 27th, 2017 - 01:40 GMT

Iran launches largest solar plant to date, announces bids for renewable energy projects

The solar project seeks to harness renewable energy and build a local manufacturing industry that can boost Saudi Arabia's exports, and ultimately generate 7,000 jobs by 2020. (File photo)
April 27th, 2017 - 10:56 GMT

Saudi Arabia creates over 7,000 jobs with new solar project

Chinese producers, which account for around half of global supply, have been blamed for a slump in global steel prices after flooding export markets. (File photo)
April 27th, 2017 - 10:26 GMT

GCC launches anti-dumping probe against Chinese steel companies

The project will help Iraq expand port facilities for the Persian Gulf. (AFP/ Haidar Mohammed Ali)
April 26th, 2017 - 11:23 GMT

UK's Petrofrac lands multimillion-dollar oil contract in southern Iraq

The deal will create hundreds of jobs and will help save up to $2 billion in gas that can be made available for sale in international markets. (GE)
April 25th, 2017 - 02:07 GMT

GE signs $3B gas deal with Algeria's Sonelgaz, its largest ever

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