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Shell company building

July 30th, 2026 - 09:20 GMT

P. Choiaqo

Shell records more than double profits as war rages in the Middle East

ALBAWABA - British oil and gas company Shell has seen its profits more than double compared to the same period last year as oil prices surge amid Strait of Hormuz conflict between the U.S. and Iran. The company’s net profit hit $9.84 billion dollars in the second quarter of the year after Brent oil prices jumped from $60 a barrel in January to $114 in early May at the peak ...

Brent crude dropped to a two-year low below $97 a barrel on Thursday, falling for a sixth straight session as worries over mounting supply and weak demand outweighed concerns that conflicts in the Middle East could curb oil production.

September 11th, 2014 - 01:47 GMT

A 'remarkable slowdown': oil hits two-year low as supplies flood in

"Importing natural gas from Cyprus is very feasible for Jordan as Cyprus has a very good reserve of natural gas that can contribute to meeting Jordan's needs of gas," he added.

September 11th, 2014 - 12:01 GMT

Israeli gas not doing it? Jordan, Cyprus to agree on gas deals 'within weeks'

Al Bawaba

September 10th, 2014 - 02:39 GMT

Worried about a downslide? Saudi Arabia asks OPEC to cut oil output

Al Bawaba

September 10th, 2014 - 09:14 GMT

Kuwait Energy announces first oil discovery in Block 9, Iraq

Jordan currently imports 97 percent of its energy needs, including crude oil from Saudi Arabia and other petroleum derivative.

September 9th, 2014 - 04:38 GMT

Aiming to reduce dependency: an inside look into Jordan's attempts to increase domestic energy production

Meanwhile, in the UAE and Kuwait growth in capital expenditure has been slower than the rise in current expenditure in the recent years.

September 8th, 2014 - 06:51 GMT

Stuck up on oil: the GCC's lackluster diversification record

Al Bawaba

September 8th, 2014 - 06:07 GMT

Octal ushers in a new era for health and safety as employees embrace ‘Annual Safety Week’

Scarcity of financial resources and the lack of a solid plan are the main reasons behind the perpetuation of Egypt's energy crisis, according to experts who attended the Cairo Energy Conference.

September 8th, 2014 - 03:55 GMT

Renewable energy: the way out of deep Egypt's economic troubles?

Al Bawaba

September 7th, 2014 - 10:18 GMT

Oman Oil Company sings $1.85 billion corporate revolving credit facility agreement

The recent flare-up of violence in Iraq is past its worst and Kuwait Energy is keen to invest more in the country because of its potential, Chief Executive Sara Akbar said.

September 7th, 2014 - 03:55 GMT

Undeterred by the IS or a legacy of grudges, Kuwait Energy keen on investing in Iraq

Al Bawaba

September 4th, 2014 - 08:02 GMT

The future is green! Saudi Arabia is looking to tap into the solar markets

China’s future depends on the capacity of the GCC to provide a steady flow of oil for the next decades,

September 4th, 2014 - 03:55 GMT

China: the GCC's new reliable trade partner