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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 ...

Cutting subsidies is politically difficult because of longstanding tensions between the cabinet and parliament, where many lawmakers campaign to raise social benefits.

January 14th, 2014 - 10:15 GMT

Kuwait's nanny state model under serious scrutiny

China's top crude supplier Saudi Arabia is set to ship about the same volumes to Chinese buyers in 2014 as it did last year, as the world's second-largest oil consumer takes more from Iraq and Central Asia, traders said.

January 14th, 2014 - 10:03 GMT

Saudi Arabia to retain spot as China's to oil supplier in 2014 but is also about to face some fierce competition

The sudden availability of Iranian oil is one of the many factors driving uncertainty in the oil market. (Image credit: Shutterstock)

January 14th, 2014 - 09:35 GMT

In an oil market driven by uncertainty, Oman's output declines

TASJEEL SELECT PLUS

January 14th, 2014 - 08:30 GMT

ENOC Retail launches innovative TASJEEL SELECT PLUS fleet management card for Tasjeel customers

Détente with Iran would not only be a major change in the geo-politics of the Middle East, it would potentially generate large economic benefits to Iran and the Gulf countries.

January 13th, 2014 - 03:55 GMT

Iran is taking the region into a new direction and it's time to jump on the opportunity

Qatar to help Iran to develop its share of the world’s biggest gas field so both countries can reap the maximum long-term rewards, sources at state-run Qatar Petroleum (QP) say.

January 12th, 2014 - 06:02 GMT

What will Qatar get out of an Iranian nuclear deal?

According to the Paris-based International Energy Agency, supplies from shale oil through the use of fracturing technology can help the US for some time, but it has to turn back to the Middle East down the road to satisfy its growing needs.

January 12th, 2014 - 03:55 GMT

Are we witnessing a "new oil order"?

Israel's Ministry of Energy, Jordan's Ministry of Energy and Noble Energy all declined to comment on the report.

January 8th, 2014 - 01:38 GMT

Passing gas: After historic $1.2 billion gas deal with Palestine, Israel to build pipeline to Jordan

It is truly a pity that civil wars, terrorism and hostility among regional powers prevents the optimal exploitation of the eastern Mediterranean’s natural gas treasure, which has the potential to transform the economic future of Cyprus, Turkey and the Levant.

January 8th, 2014 - 12:54 GMT

The impending dispute between Cyprus and the Levant over offshore gas

A Syrian refugee in Jordan's Zaatari camp retrieves water. Jordan is one of the most water-scarce countries on earth (File Archive/AFP)

January 8th, 2014 - 09:42 GMT

Thirsty? This Kingdom needs $750 million to quench its water gap

During the event

January 8th, 2014 - 09:37 GMT

DEWA organises annual partners’ appreciation Ceremony

In a message to members of the Organization of Petroleum Exporting Countries (OPEC), Zanganeh also said that unconventional oil production from shale reserves by non-OPEC countries will not be a threat to OPEC.

January 7th, 2014 - 03:55 GMT

Desperate for a comeback, Iran's oil minster sends a loud and clear message to OPEC's giants