Algeria's Foreign Exchange Reserves Plunge amid Drop in Oil Revenues
18/02/2020 05:18 GMT

Algeria’s public debt rose to 45% of GDP while its foreign exchange reserves continue to shrink on the back of falling oil prices in international market boding ill for the social peace of a country... More

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JV Formed for Management of Bahrain Airport Hotel Co.
18/02/2020 10:22 GMT

Gulf Air Group Holding (GFG) and Gulf Hotels Group (GHG) announced joining hands to form the Bahrain Airport Hotel Company (BAHC) to manage and operate the upcoming Bahrain Airport Hotel at Bahrain... More

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Increase in Production Planned by Egypt's GUPCO
17/02/2020 07:24 GMT

Gulf of Suez Petroleum Company (GUPCO) aims to increase its output to about 77,000 barrels per day (bpd) of crude oil during fiscal year 2020/2021, the company’s chairman Mohamed El-Meligy said. The... More

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Logistic Hub to Boost Qazvin-Aktau Economic Coop: Official
18/02/2020 09:29 GMT

The establishment of a logistic hub will boost economic cooperation between Qazvin and Aktau port in Kazakhstan, said the chairman of Qazvin Chamber of Commerce. Mehdi Bakhshandeh said that... More

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Iran to Keep Increasing Oil Extraction from Fields Shared with Iraq
17/02/2020 07:33 GMT

Iran’s Petroleum Minister Bijan Namdar Zanganeh said that his country has quintupled its crude extraction from the so-called West Karoun oilfields, which are shared with Iraq, since 2013, adding that... More

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Napesco Secures Kuwait Contract
18/02/2020 05:15 GMT

National Petroleum Services (Napesco) announced the signing of a tender contract worth KWD 109.6 million (US$360.337 million) with Kuwait Oil Company (KOC) for the execution of operations and... More

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Libya's NOC Announces Oil Production
18/02/2020 07:55 GMT

Libya's national oil corporation, NOC, said on Monday that oil production was at 135,745 barrels per day as of Monday. The statement added that losses from the oil blockade exceeded US$1.6... More

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ONEIC Inks Agreement with Omani Budget Carrier
18/02/2020 09:14 GMT

Oman budget carrier SalamAir has signed an agreement with Oman National Engineering and Investment Company (ONEIC) to facilitate cash collection service as part of efforts to offer superior... More

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Qatar Delays Partnerships for Natural Gas Expansion Amid Price Collapse
18/02/2020 05:57 GMT

Qatar has delayed choosing Western partners for the world’s largest liquefied natural gas (LNG) project by several months after surprising the industry with a big expansion plan despite a collapse in... More

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Saudi Arabia

Madinah Governor Meets Officials of Energy Ministry, SEC
18/02/2020 06:36 GMT

Ongoing energy and electricity projects in the Madinah region this year cost SR7 billion (US$1.8 billion), including nine projects for high voltage and distribution, the Saudi Press Agency reported.... More

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Petrofac Bags Abu Dhabi National Oil Co. Deals
18/02/2020 10:36 GMT

Oilfield services provider Petrofac said on Tuesday its Emirati unit secured two contracts worth about US$1.65 billion from Abu Dhabi National Oil Company (ADNOC). Petrofac Emirates will provide... More

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Medical Flights Start from Sanaa in Diplomatic Breakthrough
04/02/2020 06:17 GMT

Flights carrying patients needing urgent medical attention began from the Yemeni capital Sanaa on Monday, the World Health Organization (WHO) said, a long-sought confidence-building measure in... More

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General News

Oil Remains Steady as Demand Concerns Weigh
18/02/2020 09:40 GMT

Oil prices were little changed on Monday as concerns of falling fuel demand caused by the economic fallout from the coronavirus outbreak in China was offset by expectations that output cuts from... More

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