Iran is planning to exchange crude oil with other raw materials, equipment and investments in order to use the revenue in completing the semi-finished petroleum projects.

The Minister of Industry and Trade, Neveen Gamea stated that Egypt seeks to cooperate with Japan to expand reliance on vehicles run on natural gas.

The United Arab Emirates’ largest oil company, Abu Dhabi National Oil Company (ADNOC), announced at the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC) that it will accelerate its transformation program to reduce cost and unlock value.

The Minister of Petroleum, Tarek El Molla has discussed with Ivan Surkos, the European Union (EU) Ambassador to Egypt enhancing cooperation in different forms, including a joint project with Belgium’s Port of Antwerp.

Egypt imported $481 million of oil and gas products from Russia in the first six months of 2018, an 84% increase from the same period in 2017.

Kuwait Petroleum Corp (KPC) is discussing entering a joint venture with commodities traders or international oil companies in order to start trading refined oil products.

Egypt signed 11 Memoranda of Understanding (MoUs) with Bahrain during the Bahraini-Egyptian Business Forum marking a two-day visit of Bahrain’s King Hamad bin Issa al-Khalifa to Cairo in April.

Energy and foreign currency shortages will be the primary challenges facing Egyptian industry in the coming year.

The UAE has just signed a bilateral trade agreement with Belize, reported Trade Arabia, to open opportunities for energy investments in the Central American republic and expand the country's regional energy profile.