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Oil and Renewables

Oil and Renewables latest

US strike on oil tanker dodging the blockade
June 17th, 2026 - 09:05 GMT
P. Choiaqo

P. Choiaqo

US used Iranian smuggling tactic to move oil through Hormuz

ALBAWABA - In an exclusive Reuters report, the U.S. has overseen and supported dozens of secretive ship-to-ship oil transfers, avoiding Iranian blockades and attacks. The method, used by Iran to avoid sanctions and blockades for years, involves transferring cargo between ships to mask its origin. In its simplest form, a ship would hand off its cargo to another ship on the way to the same destination with the transfers taking ...
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The IOCs' interest in the third Cypriot licensing round stems from Eni's major Zohr gas discovery in August 2015, in northern Egyptian waters about five miles from Cypriot wa­ters. (Pexels)
August 30th, 2016 - 05:02 GMT

After Egypt's gas discovery, oil majors rush to bid for Cyprus' offshore blocks

It takes approximately one year to drill, another year for appraisal, two to three years to hammer out a production plan and another two to three years for full production before Lebanon can begin exporting gas. (Shutterstock)
August 29th, 2016 - 12:00 GMT

Lebanon's gas production and export will take seven years after decrees passed

OPEC’s second-largest producer, trailing Saudi Arabia, Iraq depends on oil sales for 95 percent of its public spending. (AFP/File)
August 29th, 2016 - 08:54 GMT

Iraq to vie for a larger slice of the oil market

During the event
August 29th, 2016 - 05:11 GMT

DEWA concludes first children’s summer camp

Oil producing countries will hold an informal meeting in Algeria next month though it looks unlikely that they will reach an agreement to cut or freeze production to prop up oil prices.  

 (File photo)
August 29th, 2016 - 04:13 GMT

UAE to raise petrol prices in September

ROSATOM
August 28th, 2016 - 11:24 GMT

The latest Russian Power Unit Generation, identical to El Dabaa Nuclear Unit, starts operations

In July, Iran produced around 3.6 million bpd, 17 percent higher than during the first quarter of the year when initial production considerations emerged. (File photo)
August 28th, 2016 - 09:00 GMT

Iran to attend OPEC meeting, but will defend 'right to market share'

Saudi Energy Minister Khalid Al Falih stated that huge emphasis will be put in the future on foreign investments. (File photo)
August 28th, 2016 - 07:00 GMT

Saudi Aramco courts international investors to underwrite shares

Unplanned oil production outages in a number of OPEC countries also contributed to lower export earnings.  (AFP/File)
August 28th, 2016 - 05:00 GMT

OPEC earnings drop to lowest level since 2004

Kuwait  is expected to require several new power stations between 2020 and 2030. (Pixabay)
August 24th, 2016 - 09:34 GMT

Nuclear no go: Kuwait abandons plans for nuclear power plant

Higher oil prices will benefit Kuwait, the UAE and Oman the most by reducing the current account deficits by an average of four to seven percent of GDP.
August 24th, 2016 - 07:30 GMT

Oil price hike brings relief, but unlikely to impact credit ratings: Moody's

The Kuwaiti Fund loan to finance the project will be repaid in instalments over 20 years, with a five-year grace period. (Shutterstock)
August 24th, 2016 - 05:00 GMT

Plans to link Saudi, Egypt power grid backed by Kuwaiti Fund

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