Oman's Sohar Power says capacity cut by technical problem

Oman's Sohar Power says capacity cut by technical problem

One of its generating units tripped, causing damage to the machinery, the company said, adding that water production had not been affected

IEA chief says oil price bottoming depends on global growth

IEA chief says oil price bottoming depends on global growth

International Energy Agency chief Fatih Birol said expected global oil demand to grow by 1.2 million barrels per day this year

OPEC oil output near record high in April

OPEC oil output near record high in April

Iran, Iraq growth offsets strike in Kuwait and other outages

Oman plans to build $400m oil storage terminal near Duqm

Oman plans to build $400m oil storage terminal near Duqm

In its first phase, the storage facility will have a capacity of between 6 million and 10 million barrels of oil and serve an oil refinery planned for Duqm

Cheap oil to force debt-driven shakeout in energy market

Cheap oil to force debt-driven shakeout in energy market

AT Kearney says depressed oil prices will force oil and gas companies in distress to seek scarce buyers

World Bank raises 2016 oil price forecast to $41 per barrel

World Bank raises 2016 oil price forecast to $41 per barrel

Forecast comes amid improving market sentiment and a weakening dollar; oversupply seen receding

Dubai's ENOC installs first electrical car charging stations

Dubai's ENOC installs first electrical car charging stations

Company announces launch of nine charging stations at its service stations across Dubai

UAE set to raise petrol prices by 10% in May

UAE set to raise petrol prices by 10% in May

The increase in prices for April follows seven consecutive months of declines, tracks rise in global oil price

Kuwait's KNPC signs $3.98bn loan with local banks – chairman

Kuwait's KNPC signs $3.98bn loan with local banks – chairman

Part of the country's 30 billion dinar economic development plan, the Clean Fuels Project will upgrade and expand two of the Gulf Arab state's largest existing refineries

Qatar reduces local diesel fuel price by 7%

Qatar reduces local diesel fuel price by 7%

Future prices will be based on a formula that includes global levels, production and distribution costs within Qatar, and prices elsewhere in the region


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