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Sultan Haitham bin Tariq Thursday replaced long-serving Oil minister Mohammed bin Hamad Al-Rumhi in the latest cabinet shake-up. Rumhi had been Oil minister for over two decades and was replaced by Salem al-Aufi. The new oil minister of the Gulf Read more
Iraq has invited bids by investors for the construction of a new industrial city in the Eastern Wasit Governorate, reports say. The 12,500-million square meter city, state-run Alsabah newspaper, will be dedicated to small and medium industries and is one Read more
OPEC has appointed Kuwait’s oil veteran Haitham al-Ghais as its new Secretary general, as the bloc and its allies are hoping that a volatile oil market will be tamed enough to allow a return to pre-pandemic production levels. Ghais, forme Read more
OPEC and allied countries, meeting as OPEC+, agreed Sunday to raise production limits on five countries, ending a dispute that had sent global energy prices reeling. The disagreement, triggered by the United Arab Emirates’ request to increase its own production, Read more
The global oil cartel, OPEC, has approved the allocation of $1 billion to support developing countries in their fight against novel covid-19 disease, reports say. The aid to release by the organization’s Fund for International Development (OFID) will be deployed Read more
Bahrain Sunday criticized Qatar after the tiny gas-rich country’s ruler Sheikh Tamim bin Hamad Al Thani chose not to attend the Gulf Cooperation Council (GCC) hosted by Saudi Arabia who is leading the boycott against it. The regional bloc summit Read more
Qatar Monday surprisingly announced it will give up its seat in the Organization of Petroleum Exporting Countries (OPEC) in January, explaining that the decision was not political. Yet, it blasted the oil cartel for being dominated by Saudi Arabia that Read more
Qatar will pull out from the Organization of Petroleum Exporting Countries (OPEC) in January 2019, the tiny Gulf’s minister of energy has announced. “Qatar has decided to withdraw its membership from OPEC effective January 2019,” Saad al-Kaabi said Monday at Read more
Head of the Iranian Revolution Guards Wednesday indicated that US threats to thwart Iran’s oil exports to its buyers will be easily answered. “If the current capabilities of the Revolutionary Guards … reaches the ears of the adventure-seeking president of Read more
Saudi Arabia has agreed to increase its oil production up to 2,000,000 barrels, US President Donald Trump said on Twitter Saturday as he requests OPEC members to make for Iran and Venezuela’s oil production deficit. “Just spoke to King Salman Read more