Sandwiched between a stuttering eurozone and a recession-ridden Russia and Ukraine, and with the troubled Turkey and Greece to their south, eastern Europe’s economies might not seem, in a literal sense, to be in a good place.
Islamic State strengthened its hold in central Libya, seizing territory near the country’s largest oil terminal, as the United Nations warned that time is running out on its efforts to broker a deal among warring factions.
The U.S. has taken Russia’s crown as the biggest oil and natural-gas producer in a demonstration of the seismic shifts in the world energy landscape emanating from America’s shale fields.
Two of Tatweer Petroleum’s newest facilities located in the Bahrain Field were officially inaugurated by Energy Minister and company chairman Dr Abdulhussain Mirza.
Woqod (Qatar Fuel), a top distributor of petroleum products in the country, plans to set up 15 portable petrol stations in Doha in a move to streamline the distribution process, a report said.
While Bahrain has taken promising measures to diversify its economy, the continued oil price slump means more work will need to be done in order for the Kingdom to achieve fiscal, environmental and resource sustainability, a report said.
Iran, China and Indonesia have reached a final agreement on building a refinery on the East Java island to process 150,000 barrels per day of heavy crude oil, an Iranian official said on Wednesday.