Egypt subscribes $1bn loan from International Islamic Trade Finance Corporation to finance petroleum imports

Egypt has signed up for a 1-billion loan from International Islamic Trade Finance Corporation (ITFC) to finance petroleum imports, Middle East Monitor (MEMO) reports citing the Arab country’s Ministry of Petroleum. The loan according to the ministry will cover 2021 Read more

Libya: NOC Chief Warns of Risks Ahead if GNA Stalled

The head of the Libyan National Oil Corporation (NOC) Mustafa Sanalla stated that the country’s oil facilities would come under frequent attacks if a national unity government is not formed. His warning comes after the Fida oilfield in eastern Libya Read more

Iran to boost growth in MENA, IMF report

Iran is expected to play an important role in the economic growth of the Middle East and North Africa (MENA) with an increase in its oil exportation according to the semi-annual World Economic Outlook report released by the International Monetary Read more

Kuwait-South Korea sign economic accords

Kuwait and South Korea signed three agreements and several memorandums of understanding in the sectors of health, transportation, trade and petroleum as both countries move towards consolidating their bilateral relations and cooperation. Visiting South Korean president, Park Geun-hye and Amir Read more