A senior Algerian energy official told Reuters that his country had cancelled a planned bid round for oil and gas exploration rights, due to low oil prices.
Oman’s Renaissance Services plans to sell its Topaz Engineering unit, reported The National, and at a loss of $5.5 m to Chalmers Holdings, a Dubai-based marine and offshore outfit.
The Saudi oil minister, Ali al-Naimi, was quoted by Reuters as saying on Friday that his country is continuing with its investments in the oil and gas industry as well as solar energy despite the current drop in oil ...