March 5, 2013
China has overtaken the US as the world's largest net importer of oil, a report has said.
Libyan gas exports resumed to Italy after a brief stop on Saturday, as a result of armed dispute around the Mellitah complex on the western Libyan coast.
Retail sales in Lebanon fell by 12 per cent in 2012 due to the political stalemate and ramifications of the Syrian crisis, the Beirut Traders Association-Fransabank Retail Index showed Monday.
Egypt's net foreign reserves fell by $105 million in February to $13.508 billion, the Central Bank of Egypt (CBE) stated on Monday.
March 4, 2013
Hundreds of protesters broke into Iraq's giant southern West Qurna-2 oilfield, early on Monday, sources from the field, police and the state-run Southern Oil Co. said.
A new pipeline that bypasses the key oil trading route of the Strait of Hormuz is still operating at a limited capacity, according to sources.
The government will not raise the prices of subsidised fuel even when rationing 'smart cards' are introduced, Osama Kamal, minister of petroleum told state-owned MENA news agency.
Oman is planning on increasing oil production to 940,000 barrels per day day as domestic demand increase in the Sultanate.
The United States announced on Sunday that it would begin to release economic assistance packages to the Egyptian government.
Royal Jordanian is diverting flights from Amman to Beirut away from Syrian airspace, as part of the airlines “commitment to the safety of its passengers and security of its operations".
The US media has warned that the Iran-Pakistan gas pipeline might lead to sanctions against Islamabad, although the State Department says sanctions will only become effective if Pakistan finalises the deal.
Egypt is hoping to secure the long-awaited $4.8 billion loan from the IMF before parliamentary elections planned for April.
Jordan announced on sunday that the government will be distributing the second payment of the cash support for fuel at the beginning of April.
Swarms of locusts attacked El-Obour vegetable and fruit market in Cairo on Sunday morning, destroying the agricultural products, as fears grow of sustained damage from an invasion.
March 3, 2013
Libya has suspended gas exports to Italy following a series of clashes between local tribesmen and security forces.