Thursday 28 May 2015
 
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Cheaper oil driving fuel demand boost

Global oil demand is set to grow by up to 1.4 million barrels per day in 2015 as lower oil prices boosted buying in many regions, including Europe, an executive at the world's top trader Vitol said on Wednesday. "Markets

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Jordan launches multi-fuel run electricity project

The foundation stone for a multi-fuel run electricity generation mega-project has been laid in Jordan, according to a report. The plant, which will be implemented by the Amman-Asia Electric Power Company, coded IPP3, will have the

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Egypt plans smart card system for fuel from mid-June

Egypt will begin rolling out a smart card system for subsidised fuel from June 15, the head of the firm overseeing the project said, part of plans to reduce costly energy subsidies over time. Fuel subsidies have long weighed on Eg

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Fuel storage facility in Salalah to be ready in November

A multi-million dollar fuel storage depot is being developed at the Salalah Port by Dubai-based Mina Petroleum, which specialises in commodity trading and full-cycle logistics for delivery of petroleum products, according to a report.

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Mashreq Petroleum storage project on track

Egypt’s Mashreq Petroleum Company is on schedule to complete the $60-million first phase of its project to store petroleum products and fuelling ships within the next two months, its chairman said. The company is planning to

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Mashreq Petroleum storage project on track

Egypt’s Mashreq Petroleum Company is on schedule to complete the $60-million first phase of its project to store petroleum products and fuelling ships within the next two months, its chairman said. The company is planning to

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Emirates Airline expects drop in annual fuel costs

Dubai's Emirates Airline expects lower oil prices to translate into fuel savings in the financial year ending this month but is braced for foreign exchange hits in markets such as Europe, India and Russia, its chief operating officer said.

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Egypt considers cutting fuel subsidies by $2.64bn next year

Egypt is considering whether to reduce fuel subsidies by 20 billion Egyptian pounds ($2.64 billion) next fiscal year, but it needs to study the social implications before coming to a decision, the investment minister said.  

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Lower oil prices will blunt drive for fuel efficiency

For a decade, high and rising prices have created a strong incentive to use oil-derived fuels more sparingly. By the end of 2012, efficiency improvements, substitution, and changes in behaviour had cut oil consumption in the advan

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Gulf countries in plans to curb fuel smuggling

Bahrain and other Gulf countries are planning new legislation to curb fuel smuggling. Smuggling of fuel, including diesel, petrol and other products, is frequent across borders where different levels of fuel subsidies create price

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