Italy Court Finds Saipem Guilty in Algeria Graft Case But Acquits Eni
20/09/2018 08:43 GMT

An Italian court found oil services group Saipem and a former CEO guilty of corruption in a long-running trial over bribes in Algeria but acquitted oil major Eni. In a court ruling on Wednesday,... More

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Ithmaar, Eazy Financial Services to Launch Biometric Payment Network in Bahrain
20/09/2018 04:34 GMT

Ithmaar Bank and Eazy Financial Services announced plans to launch the region’s first biometric payment network, supported by the Labor Fund “Tamkeen”, providing a new and more efficient alternative... More

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Eni to Drill Exploratory Oil Well in Egyptian Field
20/09/2018 10:09 GMT

Italy's Eni and Egypt's Tharwa company will drill the first exploratory oil well in northern Sinai's offshore Noor Oil Field next week, an official at Egypt's gas company EGAS said on Thursday.... More

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Specialized Workgroups Formed at National Iranian Gas Company
18/09/2018 09:43 GMT

Secretary of efficiency commission at the National Iranian Gas Company (NIGC) Majid Keshavarz said that specialized efficiency workgroups have been formed. He explained that a specialized... More

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Iraq to Create New Comms & Informatics Company
20/09/2018 09:52 GMT

The Iraqi Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Haider Al-Abadi. The Cabinet: •discussed public services in Basra, and received... More

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Kuwait’s Increase in Gas, Oil Contributes to Meeting Needs
20/09/2018 10:13 GMT

Increasing free natural gas and light oil by Kuwait Oil Company (KOC) will help contribute to meeting the country’s pressing need of gas and reaching new global commercial markets, said Minister of... More

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Power Outages in Libya
20/09/2018 09:52 GMT

Western and southern Libya are experiencing power outages, including in Tripoli, after fighting resumed between two rival groups. The fighting resulted in most of the power stations being knocked out... More

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OTF Pens MoU to Set Up British-Omani Technology Gateway
20/09/2018 09:59 GMT

Oman Technology Fund (OTF) has announced the establishment of a ‘British-Omani Technology Gateway’ — a platform designed to enable UK-based start-ups from HP’s portfolio to access the Sultanate’s... More

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Qatar Airways Announces Revenue Loss
20/09/2018 04:34 GMT

Qatar Airways says it suffered a US$69 million loss this year off revenue of US$11.5 billion amid a boycott of Doha by four Arab nations. The carrier made the announcement in a statement Tuesday,... More

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Saudi Arabia

KSA in Line for Multibillion-Dollar Infrastructure Dividend
20/09/2018 04:34 GMT

Saudi Arabia stands to collect an “infrastructure dividend” worth billions as it pushes ahead with its diversification drive, powered by a localization program involving partnerships between KSA... More

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Abu Dhabi Islamic Aims to Up Lending after Capital Hike
20/09/2018 04:34 GMT

Abu Dhabi Islamic Bank expects to increase lending in 2018 after boosting its capital, its acting chief executive said, adding that the rate of profit growth will slow as the sharia-compliant bank... More

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Yemen Central Bank Takes Steps to Face Currency Crisis
11/09/2018 10:33 GMT

The Governor of the Central Bank of Yemen, Dr. Mohammed Mansour Zammam, said on Monday that a number of steps have been taken to ease pressure on currency markets and provide basic commodities to... More

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General News

OPEC, Non-OPEC Meeting to Revise Oil Output Quotas: Azeri ministry
20/09/2018 10:09 GMT

Azeri energy ministry said on Thursday that OPEC and non-OPEC oil producers meeting this week in Algeria plan to revise oil production quotas. Azeri Energy Minister Parviz Shakhbazov plans to attend... More

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