Tag Archives: Middle East

The biggest oil-exporting region in the world, the Middle East, has set its sights on becoming a major clean energy exporter of green hydrogen. The largest oil producers in the Arab Gulf have jumped on the hydrogen bandwagon — especially its so-called green variety produced from water electrolysis using electricity …

BP has said it will invest heavily in Middle Eastern oil and natural-gas fields going into 2021. Despite pledging its transition to renewable energy, the company has highlighted its interest in Middle East oil and gas. At present, BP currently operates the world’s third largest oil field in Iraq, Rumalia, …

Middle East producers led by Saudi Arabia are widely expected to raise their official selling prices for January loading crude in December, although the outcome of the OPEC and non-OPEC meetings in coming days could affect the size and even the direction of any price change. Saudi Aramco is expected …

The Middle East is expected to become one of the world’s main suppliers of liquefied natural gas (LNG) as climate policies see a rapid decline in demand for oil and coal, leading to a shrink in fossil fuel consumption for the first time in modern history, BP said in its …

Global oil market will rely more on the Middle East as U.S. shale oil production is expected to continue to fall, said Chris Midgley, global head of analytics with S&P Global Platts, on Friday. U.S. shale oil production will fall by 900,000 barrels per day in 2020 and drop another …

Kuwait aims to open what will be the Middle East’s largest import terminal for liquefied natural gas in March, according to two people familiar with the project. The Al-Zour plant will allow Kuwait to receive 22 million tons of LNG (about 31 billion cubic meters) a year, almost doubling the …

The £2.1m project aims to secure the country’s production capacity at peak times and enhance energy efficiency.

The United Arab Emirates has launched a nuclear energy plant on Saturday, the first such project in the oil-rich Arab world. Unit 1 of the Barakah plant in the Al Dhafrah region of Abu Dhabi started producing heat on Saturday, the Emirates Nuclear Energy Corporation said in a statement. Unit …

As the Middle East enters the hottest days of summer, Saudi Arabia is set to burn potentially record amounts of crude oil to run its power plants and keep its citizens comfortably air-conditioned. Electricity consumption always soars around July and August, when temperatures in the kingdom can rise above 122 …

The Middle East’s energy producers are expected to earn $270 billion less in oil revenue compared to last year as the region’s economic heavyweight, Saudi Arabia, sinks deeper into recession amid the coronavirus pandemic, according to the International Monetary Fund’s outlook released Monday. The international lender expects an overall economic …