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KSA: Saudi Arabia and Kuwait to begin operations at Neutral Zone oilfields

Operations at the Khafji and Wafra oilfields that lie in the neutral zone between Saudi Arabia and Kuwait are expected to begin before the end of the year as sources claim that an agreement has been reached by officials from the two countries. The sites are jointly operated by the two countries but production was […]

December 7th, 2016 | Posted in Energy,Gulf News,Headlines | Read More »

Oil Prices to Further Drop if OPEC Fails to Reach Output Cut

The failure by OPEC members to reach a production freeze deal amid disagreements over sharing output cuts risks further drop in oil prices, several analysts warned. As the de facto Saudi-led cartel prepares to meet on Wednesday in Virginia, a failure to agree on a production cut will send prices down to below 40 dollars […]

November 29th, 2016 | Posted in Energy,Gulf News,Headlines | Read More »

Morocco To Build $ 2.5 Bln Fertilizer Plant in Ethiopia

The historic visit paid this weekend to Addis Ababa by King Mohammed VI was crowned with the signing of a 2.5 billion deal to build a giant plant to produce fertilizers in Ethiopia. The deal was inked by Morocco’s Office des Phosphates (OCP), the world’s largest phosphate exporter and Ethiopia’s state-run firm Chemical Industries Corporation […]

November 19th, 2016 | Posted in Energy,Headlines,World News | Read More »

Iran Signs Multibillion Dollar Deal with Total

The National Iranian Oil Co. (NIOC) reached a preliminary agreement worth $4.8 billion with Total, a French energy company, for the development of the South Pars offshore gas field; one of the largest in the world. Total’s Chairman and CEO Patrick Pouyanne said the agreement engulfs “an attractive commercial framework” and gave assurances that the […]

November 9th, 2016 | Posted in Energy,Gulf News,Headlines | Read More »

Saudi Arabia Suspends Oil Shipments to Egypt Indefinitely

Egyptian authorities on Monday said Saudi Arabia has indefinitely halted shipments of oil products that were part of a $23-billion aid deal with the North African nation. According to Egyptian Oil Ministry spokesman Hamdi Abdel-Aziz, Saudi Arabia’s Aramco, the world’s largest oil company, stopped sending the fuel shipments to Egypt “without giving a specific timetable […]

November 8th, 2016 | Posted in Energy,Gulf News,Headlines | Read More »

There will be no return on Algiers agreement, Energy Minister

After the High Level Committee of experts of the Organization of Petroleum Exporting Countries (OPEC) failed to reach an agreement on outlining the implementation of cutting the production output in Vienna last month, there were concerns that the Algiers agreement could fail but Algerian Energy Minister Nouredine Bouterfa stressed on Sunday that “there will be […]

November 7th, 2016 | Posted in Energy,Headlines,World News | Read More »

Iraq to Pull out of OPEC Deal

The agreement between members of the Oil Petroleum Exporting Countries (OPEC) and non-OPEC members that was reached in Algiers last month is slowly nearing a deadlock after Iraq became one of the latest countries demanding to be exempted from it. Iraq is the oil cartel’s second-largest producer after Saudi Arabia and its production is currently […]

October 26th, 2016 | Posted in Energy,Gulf News,Headlines | Read More »

Iran: President Urges Country to be Hospitable to Foreign Investors

Iran’s President Hassan Rouhani on Thursday urged authorities to be hospitable to foreign businessmen and investors to remove Iranophobia and promote the country’s economy and trade. in his speech to promote Iranian trade relations with the rest of the world, President Rouhani said, “All the efforts… of the government in the last three years including […]

October 20th, 2016 | Posted in Energy,Gulf News,Headlines | Read More »

Algeria: 2017 Finance Bill Impacted by Low Oil Prices

Algeria’s Council of Ministers approved the Finance bill for the upcoming year and tempered its expectations on oil and gas by estimating the price of a barrel at $50. The ministers meeting, held under the chairmanship of ailing President Abdelaziz Bouteflika, dubbed the 2017 financial bill as the first phase of the “budgetary trajectory 2017-2019” […]

October 5th, 2016 | Posted in Energy,Headlines,World News | Read More »

‘Algeria Possesses Potential to Become Global Solar Energy Producer,’ UN expert

UN energy expert Gille Bonafi has called the European Union (EU) to lean on Algeria for its energy supply as the North African country can become a world’s leading energy producer given its untold solar energy potential. Speaking in Algiers, Saturday, at an international conference on energy transition on the African continent, Bonafi sitting on […]

October 3rd, 2016 | Posted in Energy,Headlines,World News | Read More »

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