Italy’s Snam Buys Stake in Algerian Gas Pipelines
28/11/2021 10:28 GMT

Italy’s Snam has agreed to buy a stake in pipelines carrying Algerian gas into Italy in a move that could pave the way for hydrogen imports from Africa into Europe. Europe’s biggest gas... More

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Court Orders Bahrain to Pay Damages to Iran For 'Political Expropriation'
28/11/2021 05:43 GMT

Bahrain has been ordered by the Permanent Court of Arbitration in The Hague to pay over 200 million euros in damages plus costs to two Iranian banks for the unlawful expropriation of their banking... More

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Egypt in Deal on Gas Supplies for Re-Export
28/11/2021 10:33 GMT

Egypt and Israel have signed a memorandum of understanding to consider the possibility of increasing Israeli gas supplies to Egypt with the aim of re-exporting and using the pipeline between the two... More

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Iran Produces 85% of Oil, Gas, Petchem Equipment
28/11/2021 10:28 GMT

The chairman of the board of directors of the Society of Iranian Oil Industry Equipment Manufacturers (SIPIEM) said 40% of the production capacity of the SIPIEM is not being employed, adding:... More

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Basra Energy Co. Established to Run Rumailah Oilfield
28/11/2021 09:50 GMT

The Iraqi Ministry of Oil has officially established the new Basra Energy Company (BECL), which will be the main contractor at the giant Rumaila Oil Field , under a Technical Service Contract... More

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UAE & Kuwait to Support OPEC+ Decision
28/11/2021 06:59 GMT

The UAE and Kuwait said they would support any collective OPEC+ decision made on oil production levels, amid market discussion that the group could offset a US-led multi-country strategic petroleum... More

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Repair Work on Key Libyan Pipeline to Affect Output at Waha Oil Fields
28/11/2021 09:27 GMT

Libyan oil production is again expected to fall as some of the Waha oil fields will be offline due to pipeline maintenance, sources close to the matter said Nov. 25. The pipeline that connects the... More

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Oman’s Bank Nizwa Welcomes Merger Proposal from Sohar Intl.
28/11/2021 09:24 GMT

Oman-based Sohar International Bank and Bank Nizwa are considering a merger, according to Al-Arabiya. Bank Nizwa’s board welcomed the proposal from Sohar International on Nov. 25 to study the idea of... More

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Qatar & Turkey Discuss Enhancing Trade Ties
28/11/2021 09:34 GMT

Minister of Commerce & Industry H E Sheikh Mohammed bin Hamad bin Qassim Al Thani, met with Minister of Trade of the Republic of Turkey H E Dr. Mehmet Muş, on the sidelines of the 37th session of the... More

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Saudi Arabia

Saudi Firm Bags Contract to Supply Steel Oil, Gas Pipes to Uruguay
28/11/2021 10:47 GMT

The Saudi Steel Pipe Company has won orders worth SR52.4 million (US$13.96 million) to supply steel pipes for oil and gas to Uruguay-based Tenaris Global Services. The supply contract will run for... More

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UAE Adopts Biggest Legislative Reforms; Over 40 Laws Added
28/11/2021 09:50 GMT

UAE President HH Sheikh Khalifa bin Zayed Al Nahyan has approved a wide-ranging reform of the country’s legal system, which aims to strengthen economic, investment and commercial opportunities, in... More

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Saudi Aramco Facilities Attacked, Yemeni Houthis Claim
21/11/2021 05:56 GMT

Yemen's Iran-aligned Houthi movement said on Saturday it had fired 14 drones at several Saudi Arabian cities, including at Saudi Aramco facilities in Jeddah. The Saudi-led coalition battling the... More

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General News

OPEC Says US-Led SPR Oil Release May Swell Surplus in 2022
28/11/2021 10:40 GMT

OPEC expects an oil release from major consumer nations' reserves led by the United States to swell a surplus in oil markets by 1.1 million barrels per day (bpd), a source from the group said. The... More

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