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Wednesday, July 17, 2019 23:52 GMT
Saudi Arabia's sovereign wealth fund, Public Investment Fund (PIF), has acquired a 40% stake in a joint venture between Aramco and US-based Jacobs Engineering Group, Bloomberg reported. The PIF acquired 30% of Jasara Program Management from the Saudi Arabian oil company and 10% from Jacobs, leaving...More
The United Arab Emirates’ state-run ADNOC, long seen as one of the most conservative oil firms in the Middle East,...More
OCTAL, the world’s leading supplier of clear rigid packaging materials, on Tuesday announced that it has secured US$625...More
Global specialist equipment and integrated engineering services company, Sparrows Group, has bolstered its position in...More
Bahrain’s ambitious US$6 billion Bapco Modernization Program (BMP) is 25% complete with US$1 billion having already...More
Algeria’s former industry minister has been placed in provisional detention on allegations of squandering public money, state television reported. Youcef Yousfi is the latest among a series of... More
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Bahrain’s ambitious US$6 billion Bapco Modernization Program (BMP) is 25% complete with US$1 billion having already been spent, said Dr Pete Bartlett, Bapco CEO. More than 1300 kms of instrument... More
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The Egyptian Electricity Holding Company (EEHC) decided to postpone the signing of contracts with AlNowais Investment Company for the construction of a coal-fired power station in the Oyoun Mousa... More
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In light of the US sanctions and the exit of foreign companies from Iran, Tehran is seeking to boost its income and hard currency by hosting the largest possible number of Iraqi tourists it can.... More
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Iraq's oil ministry said on Tuesday it would sign an agreement on Wednesday with U.S. energy company Honeywell to process natural gas from its Artawi southern oilfield. The memorandum of... More
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The Central Agency for Public Tenders (CAPT) has approved the Kuwait Oil Company (KOC) request to award KGL Logistics Company a KWD 12 million (US$39.6 million) contract for providing materials... More
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Libya’s oil revenue took a beating in the first half of 2019, according to its central bank as reported by Reuters. In the first six months of the year, Libya’s oil revenues were down 11.2% from the... More
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The sultanate’s government on Tuesday signed two loan agreements worth of RO113.6 million (US$294.2 million) with the Arab Fund for Economic and Social Development (AFESD). The first agreement,... More
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Jordan appointed a new ambassador to Qatar on Tuesday, a step toward restoring normal relations two years after Amman withdrew its ambassador in solidarity with GCC allies who severed ties with... More
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Global specialist equipment and integrated engineering services company, Sparrows Group, has bolstered its position in Saudi Arabia after securing vendor approval status from the national oil... More
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Dubai-based GFH Capital Limited, a subsidiary of GFH Financial Group, has announced that it has acquired a Tech Offices Portfolio in North Carolina, US, in a deal valued over US$100 million. The Tech... More
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The UAE has opened an integrated solar-powered water pumping station in the district of Naseeb in the Shabwa Governorate of Yemen. The unit will supply water to residents of Dar'aa and Mouriba areas... More
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Oil prices rose on Wednesday after steep falls in the previous session, although U.S. crude trailed gains for international benchmark Brent following data showing U.S. crude inventories fell less... More
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