New Cities, Major Urban Poles to Benefit from Effective Support: Algerian Minister
12/07/2018 06:46 GMT

Minister of Housing , Urban Planning and the City Abdelwahid Temmar affirmed Tuesday, in Annaba, that the management of the new cities and major urban poles constitutes, for his department, “a high... More

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IMF Welcomes Bahrain Subsidy Reforms
16/07/2018 06:09 GMT

International Monetary Fund (IMF) directors have welcomed Bahrain authorities’ commitment to continue subsidy reforms, cut non-productive spending, and raise non-oil revenues by introducing a... More

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Sharjah-Based Dana Gas Planning to Drill 1st Offshore Well in Egypt
16/07/2018 06:09 GMT

UAE's Dana Gas is planning to drill Balsam-8 well in the company’s development lease onshore in the Nile Delta following the reception of US$40 million receivables from the Egyptian government, head... More

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Iran Oil Minister Appoints New Inspection Director General
16/07/2018 09:33 GMT

Through a decree issued by Bijan Zanganeh, Minister of Oil, Mohammad Ahmadi has been appointed as Director General of Inspection and Complaints Follow-up Office at the Ministry of Oil, replacing... More

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ADES Expands into Southern Iraq
16/07/2018 08:17 GMT

ADES International Holding Ltd., a London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa, is to expand into Southern Iraq.... More

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Kuwait Fund Inks Loan for Egyptian Wastewater Treatment
15/07/2018 05:52 GMT

Kuwait Fund for Arab Economic Development (KFAED) on Thursday (12 July) signed a KD50 million (US$170 million) loan for the Egyptian government, which will contribute to the construction of a sewage... More

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Production Cut at Libyan Field after Workers Abducted
15/07/2018 08:10 GMT

Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National... More

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Agreements Signed for Enhancing Muscat’s Electricity Network Capacity
16/07/2018 08:15 GMT

Muscat Electricity Distribution Company (MEDC) — a member of the Nama Group — signed a number of contracts totaling over RO 3 million (US$7.8 million) for the strengthening of the electricity network... More

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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 Sipchem Launches Innovation Club in Dhahran
16/07/2018 07:46 GMT

Sipchem has launched its innovation club ‘Sipchem Tech’ in Saudi Arabia with the aim of building the capabilities of the youth in various fields, including artificial intelligence (AI), programming,... More

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MTN’s Dubai Subsidiary Sells Cyprus Business
16/07/2018 08:25 GMT

South Africa-based mobile telecommunications company MTN Group Ltd. said on Monday (16 July) its Dubai subsidiary sold its Cyprus business to Monaco Telecom for €260 million (US$304 million).... More

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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

Iran Warns OPEC of Losing Effectiveness
16/07/2018 09:31 GMT

Iranian Minister of Petroleum Bijan Zanganeh sent a letter to OPEC President, warning him the organization would lose its effectiveness if members fail to adhere to the group's decisions. In the... More

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