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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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With markets already balancing on the back of modest global economic growth, the price for crude oil last week topped $50 per barrel for the first time in nearly a year. (File photo)
June 16th, 2016 - 04:37 GMT

Brexit fears, Goldman Sachs report drive oil prices below $50

 The rebalancing of the market may be delayed if halted supplies in Canada, Nigeria and Libya are able to restart, according to the IEA. (Shutterstock)
June 15th, 2016 - 05:20 GMT

IEA predicts oil market balance in 2017

The company said it reached a deal with a committee of holders of notes and bonds to enter into a "standstill agreement" on interest payments for April, which has now been extended to July 1. (European Oil & Gas)
June 14th, 2016 - 12:00 GMT

Gulf Keystone Petroleum gets extension on debt repayments

Natural gas shortages have in the past forced EGAS to ration gas supplies to industry during months of peak consumption, crippling production and hampering Egypt's economic recovery. (File photo)
June 14th, 2016 - 07:00 GMT

Egypt to divert natural gas supplies from industry to meet August power demands

Iran’s oil exports are currently close to pre-sanction levels of around 2.5 million barrels per day. (Iberorusa)
June 13th, 2016 - 11:00 GMT

European companies line up for Iranian oil deals

Al Bawaba
June 13th, 2016 - 07:00 GMT

Saudi Electricity woos international partners for two solar plants

During the event
June 13th, 2016 - 05:14 GMT

MD & CEO of DEWA launches Amazon/Antarctica experience

A WFP ship bringing fuel supplies to Aden in July 2015. (Twitter)
June 12th, 2016 - 07:00 GMT

Yemen: Respite for Aden's fuel crisis as power station refueled

The Baltim South West well is located 12 kilometres from the coast, 25 metres deep, and 10 kilometres north of the Nooros field. (File photo)
June 12th, 2016 - 04:26 GMT

BP, Eni confirm new 'significant' gas discovery in Egypt's Mediterranean

“The rebound in prices is probably a vindication of the OPEC policy of the past two years, although the trajectory for the balance of the year is likely to remain very volatile,” said the managing director of the DME.  (File photo)
June 8th, 2016 - 08:00 GMT

Oman crude oil prices jump nearly 100 percent from January lows

The partners state that the estimate of gas in Leviathan reservoir is still 21.9 trillion cubic feet. (File photo)
June 8th, 2016 - 05:00 GMT

Leviathan reservoir partners stand by their gas estimates

Prices are expected to increase from 60 to 85 fils per litre for 91 octane, from 65 to 105 fils per litre for 95 octane and from 90 to 165 fils per litre for 98 octane. (File photo)
June 7th, 2016 - 05:00 GMT

Kuwait to raise fuel prices due to squeezed subsidy budget

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