Algerian Gas Flows to Italy Down on Field Maintenance, Europe Offsets Fall
28/05/2017 08:57 GMT

Algerian gas flows to Italy dropped by 11 million Mcm, or 25%, on Wednesday to 32 Mcm, according to data from Platts Analytics' Eclipse Energy, with the cause said to be maintenance at an unnamed... More

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Manara's Bahrain Sea-Front Project Set for Q4 Launch
28/05/2017 07:19 GMT

Manara Developments, a leading real estate development company, said work is in full swing at its luxurious sea-front Hasabi project in Bahrain and is scheduled for completion by the fourth quarter... More

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Egypt Rate Hike Seen Curbing Growth Drive, Not Inflation
23/05/2017 07:10 GMT

Egypt’s financial community says Sunday’s 2% interest rate hike, in line with calls from the International Monetary Fund (IMF), will do little to curb rampant inflation and will harm investment at a... More

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Details over Exploration in Iran's Central Desert
28/05/2017 09:39 GMT

Iran has discovered a new oil block called Kavir Block in the south west of Semnan Province, an informed source said. According to the studies conducted in the past, the block seems not to contain a... More

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Iraq Considers Massive Oil Hedge
28/05/2017 08:43 GMT

Iraq is mulling an oil hedging program to lock in prices for future crude sales, potentially topping a similar deal run by Mexico that is considered the largest energy trade in Wall Street. The... More

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Swiss-Belhotel to Operate New Hotels in Kuwait
25/05/2017 08:29 GMT

Continuing its expansion in the GCC, Swiss-Belhotel International (SBI) has entered into a management agreement with Omniyat Real Estate to operate two new properties in Kuwait. Both... More

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Polish Company in Negotiations for Libya Return
14/05/2017 08:16 GMT

The head of Libya’s National Oil Corp. (NOC), Mustafa Sanalla, and chairman of the Polish Oil and Gas Co. (POGC), Filip Moczydlowski, met at the end of April to discuss POGC resuming its operations... More

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Oman’s 1st Sukuk program by Meethaq Opens for Subscription
25/05/2017 10:21 GMT

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, has launched the Sultanate’s first Sukuk program. The maiden RO 25 million (US$35 million) issuance, open for subscription from May... More

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Intesa Moves to Syndicate Loan in Qatar-Glencore’s Rosneft Deal
28/05/2017 08:51 GMT

Intesa Sanpaolo has formally launched a process to syndicate the loan it provided to fund the purchase of a 19.5% stake in Russian energy giant Rosneft by Glencore and a Qatari sovereign wealth fund,... More

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Saudi Arabia

Saudi Aramco Plans Spending on US Refining Operations
28/05/2017 06:34 GMT

Oil giant Saudi Aramco is set to spend US$18 billion over the next five years to expand its operations in the Americas, focusing on its wholly-owned oil refining unit in the US - Motiva Enterprises.... More

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Bee'ah, Masdar Ink JV Deal for 1st UAE Waste-to-Energy Plant
28/05/2017 06:40 GMT

Bee’ah, the environmental management company, and Masdar, Abu Dhabi’s renewable energy company, have formally established a joint venture to develop waste-to-energy plants across the region, it was... More

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Yemeni-Omani Businessmen Review Trade Ties
13/04/2017 08:43 GMT

Businessmen from Oman and Yemen discussed exchange of trade between two neighboring countries and sought to reap maximum benefits from available resources in both the countries and create a win-win... More

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General News

OPEC Mulling Whether to Cap Nigeria’s Production
28/05/2017 08:10 GMT

OPEC is debating on Thursday whether to include Nigeria in its pact to restrict oil production, two OPEC delegates said. Nigeria and Libya, both suffering from unrest, were excluded from production... More

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