Algerian Sonatrach, Italy’s Eni Ink Agreement
19/07/2018 07:54 GMT

The Chairman and General Director of the Algerian state company Sonatrach, Abdelmoumem Ould Kaddour, and the CEO of Eni, Claudio Descalzi, signed an agreement that represents a further step towards... More

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Bahraini, Saudi Officials Discuss Planned Projects
19/07/2018 08:14 GMT

Works, Municipalities Affairs and Urban Planning Ministry Undersecretary Ahmed Abdulaziz Al-Khayyat held a meeting with officials representing the Saudi Development Fund (SDF). The meeting focused on... More

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Egypt Setting Up Sovereign Wealth Fund
18/07/2018 05:17 GMT

Egypt is setting up a sovereign wealth fund with a capital of 200 billion Egyptian pounds (US$11.1 billion), the state news agency said on Tuesday (17 July). Former Public Enterprise Minister Khaled... More

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Iran builds New Centrifuge Rotor Plant
19/07/2018 09:23 GMT

Iran has built a factory that can produce rotors for up to 60 centrifuges a day, the head of its atomic agency said on Wednesday, upping the stakes in a confrontation with Washington over the Islamic... More

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OILSERV & FES Join Iraq Britain Business Council
19/07/2018 06:29 GMT

The Iraq Britain Business Council (IBBC) has announced that OILSERV and Field Energy Services (FES), one of Iraq’s leading oil and gas service providers, have joined the Council. OILSERV is an... More

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Kuwait-Based Al-Raya United Opens New Branch in Madina
19/07/2018 06:29 GMT

As part of its strategic initiative to expand and serve the largest number of its clients, Kuwait-based Al-Raya United Company for Real Estate Development recently opened a branch in Madina Monwwara,... More

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Force Majeure Declared on Libya's Zawiya Oil Exports
18/07/2018 04:32 GMT

Libya's National Oil Corporation (NOC) said on Tuesday it had declared force majeure on exports from Zawiya oil terminal as production at Sharara oilfield dropped to 125,000 barrels per day... More

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Omani SalamAir to Add New Aircraft to Fleet
19/07/2018 06:29 GMT

SalamAir has announced the addition of six brand new Airbus A320neo aircraft to its growing fleet. Oman’s first budget airline is expecting the delivery of one purchased Airbus A320neo by Q4 2018,... More

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Moody's Strong Rating Shows Strength of Qatar Economy: QIIB
19/07/2018 04:12 GMT

Global credit rating agency Moody's has affirmed QIIB's rating at 'A2' and changed its outlook to stable, reflecting the strength of the Qatari economy in its various institutions, especially the... More

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Saudi Arabia

Saudi Electricity Co. Awards Deal for Smart Electronic Meters
19/07/2018 09:44 GMT

Some 2.5 million smart electronic meters will be installed in the coming three years in the residential, commercial and industrial sectors. This is part of a contract awarded by Saudi Electricity... More

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MAF Completes Earthwork for Phase 1 of Dubai Project
19/07/2018 09:37 GMT

Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, said it has completed major earthmoving work for Phase One of its new... More

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Yemeni Houthis Attack Aramco Refinery in Riyadh
19/07/2018 09:27 GMT

The Houthi movement in Yemen said on Wednesday that one of its drones had attacked the Saudi state oil company Aramco's refinery in Riyadh, according to Houthi-run al-Masira TV, based in Yemen. "Our... More

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General News

OPEC, Non-OPEC Compliance with Output Deal Shrinks in June
19/07/2018 09:42 GMT

OPEC and non-OPEC's compliance with oil output curbs has declined to around 120 % in June from 147 % in May, two sources familiar with the matter told Reuters on Wednesday. OPEC and non-OPEC... More

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