Saudi Arabia | Egypt Oil & Gas - Part 79
Old Iran-Kuwait Gasfield Dispute Making a Comeback
Kuwait has reportedly summoned the Iranian charge d’affaires to protest against a bid by Iran to develop unilaterally the disputed offshore Durra gas field, according to Gulf News. The official Kuwait News Agency (Kun...
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...
Kazakh Currency Drops 22% from Oil Price
The national currency of Kazakhstan, the Tenge, lost nearly a quarter of its public value on Thursday, reported the New York Times. The devaluation came after the central bank of Kazakhstan announced it would cease ma...
Algeria Calls for Non-OPEC Members to Cut Production Rates
The Algerian energy minister stated that non-OPEC nations need to help to stabilize international oil prices, reported Bloomberg. Algeria is the largest member of OPEC by territory, and its government has faced signif...
Sparrow to Utilize Saudi Facilities and Experience
The Sparrow Group announced is partnership with Saudi Zamil Group in press release published by Zawya, part of its expansion in the key Middle Eastern marketplace. Sparrows is a leader in engineered products and servi...
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 ...
Saudi Spending Spree Unabated by Oil Prices, Argue Some
There are conflicting reports emerging over the financial state of the kingdom of Saudi Arabia thanks to Brent price of oil sinking to below $50 a barrel. Reuters cited a study by former Saudi central bank official Kh...
Saudi Arabia to Aid Egypt’s Petroleum Sector with $1.4bn
Egypt has reached an agreement with Saudi Arabia to receive petroleum aid worth $1.4bn for 3 months, reported Egypt Independent. The agreement includes petroleum derivatives to be received over the months of September...
