Growth Forecasts for Algeria in 2016 & 2017 Unchanged: IMF
19/01/2017 05:29 GMT

The International Monetary Fund (IMF) on Monday kept its growth projection for Algeria in 2016 and 2017, while predicting, in its world economic outlook, an acceleration of the national economic... More

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Bahrain to Host Shopping Festival
18/01/2017 07:36 GMT

Bahrain will host a month-long shopping festival from January 19 aimed at celebrating the kingdom’s hospitality and tourism offering. The third-edition of the Bahrain Shopping Festival – Shop Bahrain... More

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Egypt Seen Issuing Sukuk Later This Year
19/01/2017 05:24 GMT

Egypt could issue a US dollar Sukuk later this year after its planned conventional bond, government representatives said at the first stop of the country’s bond roadshow in Abu Dhabi and Dubai,... More

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NIDC to Spend Less on Iran's Azadegan Wells
19/01/2017 05:29 GMT

Other than the 40 wells it has already won under EPD terms in Azadegan Field ( North Azadegan Oil Field & South Azadegan Oil Field ), The National Iranian Drilling Company (NIDC) has managed to win... More

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General Electric Bags Iraq Power Deals
19/01/2017 07:27 GMT

General Electric (GE) has secured more than US$1.4 billion in orders from Iraq’s Ministry of Electricity to set up power plants as well as provide technology upgrades and maintenance services. The... More

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IMF: Weak Oil Slows Kuwait’s Non-Oil Expansion
19/01/2017 07:11 GMT

Economic activity in Kuwait’s non-oil sector continued to expand in 2016, albeit at a slower pace, reflecting the impact of lower oil prices, said an IMF report. Non-hydrocarbon growth slowed from 5%... More

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Increase in Libya’s Output Puts OPEC Deal at Risk
11/01/2017 08:25 GMT

Libyan oil production, which has been steadily rising in the last two months, could pose a risk to the production cut deal reached between OPEC and non-OPEC member countries least year, analysts... More

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Oman Mining Co. Banking on Block 10 to Attract Intl. Investors
19/01/2017 05:24 GMT

Oman Mining Company (OMCO) is banking on the prodigious copper and associated gold potential of its Block 10 license to woo international investors and joint venture partners to support a new phase... More

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Qatar Shell Pens Deal with WorleyParsons
19/01/2017 07:05 GMT

Qatar Shell has signed a five-year engineering, procurement and construction management (EPCM) services contract with WorleyParsons for for the Pearl Gas to Liquids ( Pearl GTL ) and associated... More

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Saudi Arabia

Oil, Gas to Play Major Role in Energy Mix for Long: Saudi Aramco CEO
19/01/2017 07:24 GMT

Oil and gas will continue to play a significant role in the future energy mix for decades to come as the world transitions to a sustainable energy future, president and CEO of Saudi Aramco Amin... More

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UAE Releases Report at Davos
19/01/2017 07:41 GMT

By 2020, 20% of households will run on solar energy, while electric, self-driving cars will make up 90% of all vehicles by 2035, says a report containing 112 predictions released at the World... More

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Petsec Acquires Remaining Interest in Yemeni Block from Kuwaiti Firm
16/11/2016 09:44 GMT

Petsec Energy has executed an agreement with Kuwait Foreign Petroleum Exploration Company (KUFPEC) to acquire their 25% working interest in Yemen Block 7 , Al Barqa Permit. The KUFPEC transaction... More

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General News

Honeywell Launches Gas Detecting Portable Monitor in ME Market
19/01/2017 07:07 GMT

Honeywell, a technology and manufacturing leader, has announced the launch of the BW Clip4, a new four-gas, portable monitor with a two-year runtime, in the Middle Eastern market. The “fit and... More

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