Middle East

Weak Economic Outlook Propels Energy Losses

Brent, U.S. crude prices fell 8 pct on Tuesday; fundamentals remain bearish, analysts say. Oil prices fell on Wednesday as concerns about the global economy

Oil Exports Could Push US Gasoline Prices Lower

The price of U.S. gasoline could fall if Washington were to allow crude oil exports, an independent government report on Tuesday concluded, adding political firepower

Israel's Gas Prospects Dimmed but Not Extinguished

The discovery of vast deposits of natural gas off Egypt has muddied the waters for Israel's own gas industry, though Israel's head start in developing fields means

First Damen Twin Axe Workboat for Middle East

  Damen Shipyards Group has delivered a Damen Fast Crew Supplier (FCS) 2610 workboat, named AOS SWIFT for the Atlantic Maritime Group on 20 August 2015. This is

MIDEAST STOCKS: Oil's Retreat May End Gulf Rally

A rally on Gulf stock markets, which was already running out of steam on Sunday, may end on Monday after oil prices pulled back again and Chinese stocks dropped.

Facing Heat, Iraq's Electricity Minister Passes Parliament Quizzing

  Iraq's parliament on Saturday expressed confidence in the answers of Electricity Minister Qassim al-Fahdawi following an interrogation about a persistent power

Arab Oil Producers Brace for More Price Pain

A second oil price rout of 2015 has forced Arab OPEC members to cut their price expectations for this year, showing they are prepared to tolerate cheaper crude

Oman Drydock Company Expands Rapidly

Oman Drydock Company (ODC) is growing fast. In January, the yard hit an important milestone - its 300th drydocking. Harnessing the power of its new $1.8 billion, 1.

Saipem Wins 2 Contracts for Al-Zour Refinery Project

Saipem has received award notification by the Kuwait National Petroleum Corporation (KNPC) for Package 4 and Package 5 of the Al-Zour New Refinery Project (NRP),

Iranian Ship, Crew Escape Captivity off Somali Coast

An Iranian fishing vessel and its crew have escaped after being held captive for five months by Somali fishermen, maritime piracy experts said on Friday, but it

Oil Steadies as Equities Rally

Recovering stock markets boost oil prices; U.S. crude on track for first weekly gain in nine weeks. Oil prices steadied on Friday after bouncing back from six-and-a-half-year

Gulf Keystone Owed $283 mln for Iraqi Kurdistan Oil

Gulf Keystone Petroleum, one of a handful of foreign oil producers in Iraqi Kurdistan, said on Thursday it was owed $283 million for oil sales and other costs from the Kurdistan Regional Government.

DP World H1 Earnings Jump, Mulls Iran launch

DP World may launch operations in Iran, the company's chairman said on Thursday, as the global ports operator reported a jump in half-year earnings after buying assets from its parent company.

Dubai Swaps Signal Weak Outlook for Asia Crude

Dubai monthly spreads widen in contango; Brent-Dubai Q4 2015/Q1 2016 swap spreads rise. The Dubai crude derivatives market has weakened, signaling a more pessimistic

Oil Jumps 4.5 pct as Equities Rally

Global stock markets rise on Asia, Wall Street rally. Oil prices jumped more than 4.5 percent on Thursday after a rally in equity markets and an unexpected fall in U.

TES to Rent Out Sonardyne Equipment

Abu-Dhabi based TES Survey Equipment Services LLC will become the first company in the Middle East to rent the latest 6G underwater acoustic positioning technology from Sonardyne International Ltd.

Lessons From Oil's "lost decade"

Saudi Arabia and its OPEC allies are counting on strong growth in demand coupled with slower growth in non-OPEC supply to rebalance the oil market in 2016. But

GAIL to Finalize LNG Deal with Iran

India’s state-run gas utility GAIL has begun talks with Iran to revive a decade-old LNG supply contract with the country, reports PTI.   The Business Standard

Weak oil, Saudi credit outlook cut to weigh on markets

  Further weakness in oil prices and the decision by Fitch Ratings to cut its outlook for Saudi Arabia's debt look set to weigh on Middle East stock markets on Sunday.

S.Korean officials visit Iran to seek post-sanction deals

  South Korean government and corporate officials are visiting Iran this week to hunt out possible deals in the oil, gas and construction industries since an agreement

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