The Egyptian government and the Kuwait Fund for Arab Economic Development (KFAED) have signed a loan agreement worth $98.7m to finance the power grid project between Egypt and Saudi Arabia.
Bank of America Merrill report “Global Energy Weekly” warned Saudi Arabia that the drain on its foreign exchange (FX) reserves could accelerate to $18b per month if Brent crude oil prices average $30 per barrel.
His Excellency Tarek El-Molla, Minister of Petroleum and Mineral Resources, will attended the Arab Petroleum Investments Corporation’s (APICORP) Energy Forum held today in Bahrain.
China's Shandong Electric Power Construction Corp (SEPCO) has signed a contract to build a gas compressor station as part of the expansion of Saudi Arabia's main gas pipeline.
The Dubai Mercantile Exchange (DME) announced today that Oman’s Ministry of Oil and Gas has become the first customer of its recently launched ‘DME Auctions’ platform.