Saudi Arabia's sovereign wealth fund has borrowed $11 billion from international banks after plans for an initial public offering (IPO) of state-owned oil firm Saudi Aramco were delayed indefinitely.
Kuwait and Iraq plan to appoint consultants to study the development of shared oil fields, as a solution to long-standing tensions over cross border oilfields.
Abu Dhabi National Oil Company (ADNOC) is reportedly looking to sell a minority stake in its refining business, and is in advanced negotiations with multiple potential buyers including Italy’s Eni.
Algerian state-owned firm Sonatrach has signed gas supply deals with Spain and Italy’s Eni.
Iran plans to sell discounted oil to the Asian market as a way to mitigate losses caused by US sanctions on the country.
Iraq has signed a deal with Petrofac worth $369 million for the construction of a new crude-processing plant in the giant Majnoon oilfield.
British renewable energies investment company Quercus announced it will stop building a $570 million solar power plant in Iran due to the recently imposed sanctions on the Islamic Republic.
Algeria's Sonatrach has changed its senior leadership personnel in a bid to retain skilled workers within the state-run firm.
Saudi Arabia was forced to cut oil production by more than 200,000 barrels per day (b/d) last month after OPEC’s forecasted demand figures were lower than expected, raising concerns about oversupply.
Dana Gas has issued its new Sukuk (Islamic bonds) and it is now listed on Irish Euronext Dublin stock exchange.
