ONS Reports Algeria’s Annual Inflation Rate
24/01/2017 05:38 GMT

The annual inflation rate stood at 6.4% in December 2016, the National Statistics Office (ONS) told APS. The year-on-year inflation rate in December 2016 represents the evolution of the consumer... More

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Solar Panel Plant Opens in Bahrain
24/01/2017 05:40 GMT

Electricity and Water Affairs Minister Dr Abdulhussain Mirza on 22 January 2017 patronized the opening ceremony of Solar One, a factory being set up to manufacture solar panels in Bahrain. Speaking... More

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Kuwait Energy to Sell Down Stake in Egyptian Field
22/01/2017 06:56 GMT

Kuwait Energy entered into a farm-out agreement to sell down a piece of its stake n Egypt's Abu Sennan. The company farmed down a 25% participating interest from its stake in the concession to Global... More

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Installed Petchem Capacity Ups in Iran
24/01/2017 06:20 GMT

Managing Director of the National Petrochemical Company (NPC) said that the installed capacity of the petrochemical industry, now 64 million tons, will reach 110 million tons in 5 years and 150... More

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Iraq's Oil Exports Fall Following OPEC Cut Deal
23/01/2017 07:05 GMT

In a sign that Iraq is following through on the OPEC decision to cut oil output, Reuters reports that oil exports from Iraq’s southern terminals have fallen so far in January. According to loading... More

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Kuwait Working on Restarting Output from Well Hit by Leak
23/01/2017 07:28 GMT

State-run Kuwait Oil Co (KOC) has stopped an oil leak in the country's south west and is working on rehabilitating the well for production, it said on Monday in a statement on its official Twitter... More

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Decline in Libya Oil Output Due to Technical Defect
24/01/2017 05:36 GMT

Libya's oil production has fallen by 60,000 barrels per day (bpd) after an electrical fault at the Sarir oilfield, the head of the National Oil Corp said on Monday. The fault caused a fire at a... More

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New Bulk Terminal to be Operationalized in Oman's Sohar
24/01/2017 05:55 GMT

Sohar Port & Free Zone is preparing to bring into operation a new Bulk Terminal to facilitate the export of locally mined construction aggregate (primarily crushed rock, gravel and sand) to booming... More

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Rosneft CEO Calls on Putin to Meet Glencore, Qatari Fund & Intesa
24/01/2017 06:05 GMT

The chief executive of Russia's biggest oil firm Rosneft on Monday asked President Vladimir Putin to receive the company's partners Glencore , Intesa and the Qatar Investment Authority (QIA), the... More

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Saudi Arabia

Saudi Electricity Company Staff Accused in Corruption Case
24/01/2017 06:49 GMT

Saudi Arabia's anti-corruption body has accused executives and employees of Saudi Electricity Company (SEC) of misusing public funds, it said in a statement on Sunday referring the case for... More

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UAE’s UPS Market Sees Growth
24/01/2017 06:47 GMT

The UAE uninterruptible power supply (UPS) market has been witnessing considerable year on year growth over the past decade as the number of small and medium businesses (SMB) and other commercial... More

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Petsec Acquires Remaining Interest in Yemeni Block from Kuwaiti Firm
16/11/2016 09:44 GMT

Petsec Energy has executed an agreement with Kuwait Foreign Petroleum Exploration Company (KUFPEC) to acquire their 25% working interest in Yemen Block 7 , Al Barqa Permit. The KUFPEC transaction... More

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General News

Iran Oil Output in Line with OPEC Cut Deal
23/01/2017 07:55 GMT

Deputy Managing Director of the National Iranian Oil Company (NIOC) said Iran’s daily crude output is approaching the 90,000-barrel rise as agreed by the 171st OPEC Meeting in Vienna. On claims that... More

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