Neptune Energy Names Algeria Managing Director
03/06/2020 09:45 GMT

Neptune Energy has announced Mehdi Bouguetaia will be joining the company to take on the role of Algeria Managing Director, based in Algiers. Mehdi joins Neptune from Shell where he most recently... More

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Bank ABC Enters Founding Partnership Agreement with Bahrain Fintech Bay
03/06/2020 09:21 GMT

Bank ABC, MENA’s leading international bank, along with its subsidiaries, the digital, mobile-only, ila Bank, and the MEA region’s leading payment solutions provider and fintech enabler, Arab... More

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Edison Completes Well Drilling in Egypt
03/06/2020 10:21 GMT

Edison Exploration and Production completed Ameeq 1-x exploration well in the Eastern Mediterranean waters of Egypt, according to the Italian company’s press release. Drilling works were executed by... More

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Comprehensive Studies of Iran's ICOFC Fields to be Awarded to Domestic Consultants
02/06/2020 10:09 GMT

Managing Director of the Iranian Central Oil Fields Company (ICOFC) Ramin Hatami announced that comprehensive studies of 8 fields, managed by ICOFC, will be outsourced. He emphasized on comprehensive... More

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Iraq's May Oil Sales Dip, Revenues Hike
03/06/2020 05:18 GMT

Iraq sold fewer than 100 million barrels of crude in May, its Oil Ministry announced Monday, but recovering prices saw it rake in more revenues than the previous month. The OPEC cartel’s... More

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Kuwait Oil Price Climbs
03/06/2020 09:57 GMT

The price of Kuwaiti oil went by 89 cents to US$33.89 per barrel (pb) on Tuesday, compared with US$33.01 a day earlier, the Kuwait Petroleum Corporation (KPC) said on Wednesday. Globally, the price... More

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Armed Militia Prevent Libya's NOC Maintenance Teams from Working
03/06/2020 05:18 GMT

The National Oil Corporation (NOC) confirms that an armed militia commanded by a person called Abedelkarim Alrouni has prevented the maintenance teams affiliated to Akakus Oil Operations from opening... More

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Oman Sets Retirement Age for Staff of Govt. Companies
03/06/2020 09:28 GMT

The Ministry of Finance issued a financial publication 17/2020 to all government companies on the importance of implementing the cabinet resolution issued at its meeting on May 5, 2020. The decision... More

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PPP Law to Accelerate Economic Development: Qatar Chamber
03/06/2020 05:18 GMT

Qatar Chamber’s (QC) Chairman Sheikh Khalifa bin Jassim Al Thani praised the Public-Private Partnership Law, issued by the Amir H H Sheikh Tamim bin Hamad Al Thani. The QC Chairman said it would... More

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Saudi Arabia

Virgin Mobile Saudi Consortium Names 1st Ever Local CEO
03/06/2020 06:40 GMT

“Virgin Mobile” Saudi Consortium has moved to accelerate its growth in the market with the appointment of Eng. Yaarob Al-Sayegh as the company’s first Saudi CEO. With more than 22 years of experience... More

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Sharjah Sells Billion Dollar Sukuk
03/06/2020 09:38 GMT

Sharjah, the third-largest emirate of the UAE, sold US$1 billion in seven-year sukuk, or Islamic bonds, on Tuesday, according to a document from one of the banks arranging the deal. The debt sale... More

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FAO Warns of Possible Catastrophic Food Situation in Yemen
20/05/2020 04:12 GMT

Yemen, already pushed to the brink of famine by a five-year war, could see a “catastrophic” food security situation due to the coronavirus pandemic and lower remittances from the GCC, the UN’s Food... More

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General News

Oil Hikes on Higher Hopes for Output Cuts, Recovery
03/06/2020 09:34 GMT

Oil rose on Wednesday, with Brent above US$40 for the first time since March, as optimism mounted that major producers will extend output cuts and a recovery from the coronavirus pandemic will spur... More

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