Oman’s Ministry of Oil and Gas has announced the revised petrol and diesel prices to be effective as of March. The prices for super grade and regular petrol decreased, while diesel price remained unchanged.

Libya's National Oil Corporation (NOC) stated that country's total oil production had recently decreased to between 360,000 and 370,000b/d due to the ongoing attacks conducted by Islamic State on Libya's oil infrastructure.

Amid discussions to form a unity government in Libya, the head of the country’s national oil company, Mustafa Sanalla, urged reconciliation and stated that the country had lost $68b in oil production and exports since 2013 due to attacks on its oil ports amid political instability.

The Prime Minister of Egypt, Ibrahim Mehlab, and the entire cabinet have announced their resignation, Reuters reported.

Egypt has spent EGP 126.3bn on oil products subsidies during the fiscal year (FY) 2013/2014, according to a US Energy Information Administration (EIA) report on Egypt’s energy released in June.

The Minister of Petroleum Sherif Ismail approved the following promotions within state-owned companies.

The Ministry of Industry and Foreign Trade announced yesterday that it is working on new regulations for issuance of operating licenses for the steel and cement industries.