The UAE will begin exporting almost half of its crude oil through the new Habshan-Fujairah pipeline by July 2012, bypassing the Strait of Hormuz for the first time
Industry
ENOC to enhance Jebel Ali refinery capacity
Dubais Emirates National Oil Company (ENOC) plans to increase the capacity at its Jebel Ali refinery by 20,000 bpd to 140,000 bpd
Opec's 2011 revenue touches record high
High production levels and strong oil prices boosted the Organisation of Petroleum Exporting Countries (OPEC) crude export earnings to an all time high of US$1.026 billion in 2011
Oil price slump may hit Middle East economies
Infrastructure and projects of Middle Eastern oil companies will slow down if oil prices dip any further, say experts
Purchases of Iranian crude declines in April and May says IEA
Oil-importing countries purchased nearly one million barrels per day (bpd) less crude from Iran in April and May than in late 2011 as the tightening of sanctions against the country start to bite
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