Algeria

Morocco, Algeria Sign Agreement to Supply Tunisia with Electricity
18/07/2018 04:09 GMT

Morocco’s National Office for E Electricity and Drinking Water (ONEE) and Algerian electricity and gas company Sonelgaz have signed an agreement to provide Tunisia with electricity. Algerian... More


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Bahrain

Kuwait Finance House, Bahrain’s Ahli United Bank Mull Possible Merger
18/07/2018 04:09 GMT

Kuwait Finance House (KFH) has invited Bahrain’s Ahli United Bank (AUB) to sign a memorandum of understanding and non-disclosure agreement to pursue strategic opportunities for global growth and... More


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Egypt

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

India, US Hold Crucial Talks on Oil Import from Iran
18/07/2018 05:44 GMT

A high-level delegation from the US today (17 July) held crucial talks with Foreign Secretary Vijay Gokhale over the US sanctions on import of Iranian oil+ amid indications that Washington may offer... More


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Iraq

DNO: Production Up at Kurdish Field
18/07/2018 04:46 GMT

DNO has announced a two-thirds increase in production from the Peshkabir field in the Tawke Oil Field license in the Kurdistan region of Iraq to 25,000 barrels of oil per day (bopd) following... More


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Kuwait

Saudi-Kuwaiti Neutral Zone Oil Fields Could Reopen by 2018-End
18/07/2018 04:15 GMT

Saudi Arabia and Kuwait are making headway towards a political agreement on restarting two shuttered oil fields in the Partitioned Neutral Zone as soon as December, according to sources familiar with... More


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Libya

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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Oman

Both India, Oman to Benefit from OMIFCO Expansion: Minister
18/07/2018 04:24 GMT

A keenly hoped-for expansion of the ammonia-urea plant of Oman-India Fertilizer Company (OMIFCO) in Sur — a signature bilateral investment by the two countries — will have beneficial implications for... More


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Qatar

Qatari Nakilat’s Profits Rise in Q1
15/07/2018 09:30 GMT

Nakilat has recorded a net profit of QR445 million (US$122.2 million) for the first half of the year ended 30 June 2018, an increase of 9%, compared to QR409 million (US$112.3 million) posted during... More


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Saudi Arabia

Saudi-Kuwaiti Neutral Zone Oil Fields Could Reopen by 2018-End
18/07/2018 04:15 GMT

Saudi Arabia and Kuwait are making headway towards a political agreement on restarting two shuttered oil fields in the Partitioned Neutral Zone as soon as December, according to sources familiar with... More


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UAE

UAE’s Abraaj Liquidator Said to Prefer Cerberus Capital Bid over Colony
18/07/2018 04:08 GMT

Abraaj Group’s provisional liquidator prefers a lower offer from Cerberus Capital Management LP for assets of the embattled Dubai-based private equity firm over a rival bid from Colony Capital Inc,... More


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Yemen

Missile Launched at Saudi Aramco Facility, Yemeni Houthis Say
20/06/2018 07:16 GMT

The Iran-aligned Houthi movement in Yemen said it launched a missile targeting a facility of oil firm Aramco in Asir in southwestern Saudi Arabia, Houthi-run media al-Masirah TV and SABA reported on... More


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General News

Oil Drops Amid Signs of Mounting Supply From Saudi Arabia to US
17/07/2018 07:39 GMT

After touching a 40-month high just two weeks ago, oil has fallen by more than 10% as global trade anxiety combined with a Saudi offer of added crude for Asia to boost market volatility. Futures in... More


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