Oil Prices | Egypt Oil & Gas - Part 24
Saudi Forging Ahead with Industrial Projects Despite Stock Declines
United Arab Emirates stock markets slid in early trade on Sunday in response to further weakness in oil prices, reported Reuters. Nonetheless, analysts were confident the UAE could weather the storm because of its eco...
Algeria Trying to Move OPEC and Other Oil Producers to Control Prices
Informed sources told the Wall Street Journal that Algerian Oil Minister Salah Khebri had written to OPEC warning that a new drop in oil prices may warrant fresh discussions over the organization’s strategy. “Th...
Daniel Yergin to Talk at Largest Ever Adipec Conference
Energy expert Daniel Yergin will deliver the keynote address at The Abu Dhabi International Petroleum Exhibition and Conference (Adipec), said Trade Arabia. ADIPEC 2015 is hosting its’ largest-ever conference pr...
GCC VAT Moves Delayed but UAE Forging Ahead
“An immediate announcement will be made once a final agreement on imposing a VAT law is reached,” said the UAE’s Finance Ministry in a statement quoted in The National. The draft VAT originally agreed to by the ...
Kuwait Expanding Power Projects, Renewables, Amidst Oil Price Pressures
The Kuwaiti Finance Ministry has approved the construction of a series of projects worth $9.9 b including power plants and desalination facilities and other infrastructure projects, reported the Kuwait Times. Kuwait i...
Taqa Layoffs Still Not Enough to Stem Sliding Profits
According to Bloomberg Abu Dhabi’s Taqa has had to lay off 22% of its oil and gas jobs over the past year, with spending to be cut by 2.5b dirhams ($681m) this year after. The reported cause, made by Taqa in an emaile...
Iran Paves the Way for New Model Contract With $2.2B Deal
In addition to unveiling its new contract model at a conference in London slotted for December, according to Bloomberg Iran has also intends to advertise 45 oil and gas projects to international companies at the said ...
Oil Price Crunch May Force Reform of Gulf Arab Oil Finances
A Standard & Poor’s Rating Services report cited by Gulf News warned that low oil prices will adversely affect the banking sector in the Gulf Arab states. Bank profits are likely to suffer, the report said, while ...
