Algerian Sonatrach to Cut 2020 Budget in Half
01/04/2020 09:09 GMT

Sonatrach group intends to reduce by 50% its budget in 2020 and postpone non-urgent projects following the impact of the new coronavirus (Covid 19) on oil markets, said CEO Toufik Hakkar in an... More

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Private Hospitals in Bahrain Permitted to Treat Coronavirus Patients
01/04/2020 06:26 GMT

Bahrain's National Health Regulatory Authority (NHRA) has started granting private hospitals license to provide medical care for active cases of Covid -19, who are asymptomatic and would like to... More

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Egyptian Firm Eyeing Acquisition of 6 Concession Areas in 2020
01/04/2020 10:35 GMT

Tharwa Petroleum Company is looking to obtain six concession areas in 2020 and enter into partnerships with major companies, including Total, ExxonMobil, Chevron, BP, and Shell, the company’s... More

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Iran's MOGPC Launches Gas Sweetening Plant
18/03/2020 10:33 GMT

The first phase of a gas sweetening project has been launched at industrial complex No. 3 of Maroun Oil and Gas Production Company (MOGPC). The unit is aimed at sweetening sour gas produced at Asmari... More

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Prompt April-Loading Iraq Oil Cargoes Offered to Selected Asian Buyers
01/04/2020 06:11 GMT

Iraq's Oil Marketing Company (SOMO) is offering April-loading crude cargoes to some selected Asian customers, three trade sources said, in a rare offer of prompt crude cargoes as a growing global oil... More

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S&P Affirms Qatar Ratings Despite Weak Oil, Cuts Kuwait Govt. Rating
30/03/2020 06:05 GMT

S&P Global Ratings cut the rating of the government of Kuwait by one notch this week due to the economic and fiscal effects of lower oil prices, but affirmed those of Qatar citing the country's... More

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Monthly Revenue Plummets: Libya's NOC
29/03/2020 09:01 GMT

National Oil Corporation (NOC) reported February 2020 revenues of approximately US$555 million (US$555,533,750.97), a decrease of around US$1.21 billion (68.6%) on January 2020 revenues. The February... More

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Stats Group Expands Oman Operations
01/04/2020 05:55 GMT

Stats Group, a leading provider of specialist engineering services for oil and gas sector, said it has boosted its presence in Oman with the opening of a new workshop, storage and testing facility in... More

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Qatar Airways Cargo to Resume Scheduled Belly-Hold Cargo Operations to China
01/04/2020 04:16 GMT

Qatar Airways Cargo will resume scheduled belly-hold cargo operations to China soon with the utilisation of wide-body and passenger-configurated aircraft subject to government approvals. The... More

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Saudi Arabia

Saudi Cabinet Gives Not to SAMA-Dubai Financial Services Authority MoU
01/04/2020 10:26 GMT

Saudi Arabia cabinet approves memorandum of understanding between Saudi Arabian Monetary Authority and Dubai Financial Services Authority in the field of financial services, according to Saudi Press... More

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Emirates to Get Capital Infusion
01/04/2020 10:28 GMT

Dubai Crown Prince Sheikh Hamdan bin Mohammed Al-Maktoum on Tuesday said that the Dubai government will infuse new equity into Emirates to help the airline company overcome the coronavirus... More

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Saudi Group Launches Aden Rehabilitation Program
24/03/2020 09:47 GMT

Saudi Development and Reconstruction Program for Yemen (SDRPY) has launched a cleaning, beautification and environmental sanitation campaign that will see collection and removal of up to 9,000 cu m... More

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General News

Oil to Remain Low in 2020 Due to Coronavirus, OPEC+ Deal Collapse
01/04/2020 04:16 GMT

Oil prices will stay below US$40 a barrel this year, as measures aimed at halting the rapid global spread of the coronavirus cripple demand and the collapse of an OPEC+ deal adds to a mounting supply... More

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