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Kuwait, a major OPEC member, has cancelled two gas projects due to a Coronavirus-induced policy to trim capital expenditure in the hydrocarbon industry, reports say. Kuwait Oil Company (KOC), state company and owner of the projects, decided to abolish the Read more
Qatar’s economy continues to successfully adjust to lower hydrocarbon prices, despite the “diplomatic rift” weighing on the outlook, the IMF said in a statement Wednesday. “The direct economic and financial impact of the diplomatic rift between Qatar and some countries Read more
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 Read more
Emir Sheikh Sabah Al Ahmad Al Jaber Al Sabah of Kuwait stressed the need to embark on reforms the soonest possible due to the low global oil prices. “There must be speedy, serious and urgent measures” to minimize the consequences,” Read more
Libya will be issuing its 5th energy concession by in the fourth quarter of 2013 after a “strong demand” and the need to finance the post-war projects. Oil Minister Abdelbari al-Arussi said they are also engaged in discussions with OPEC Read more
Algerian financial authorities and decision-makers are pondering increase of the number of initial public offerings (IPOs) on stock exchange. According to Oxford business Group, such a move, which aims at boosting equity capital market, would likely boost economic growth in Read more