January 20, 2015
A section of the channel Egypt is building parallel to the Suez Canal suffered leaks in the early hours of Monday, causing no injuries.
Qatar’s emir will attend an economic summit due to take place in Egypt in mid-March, sources from both countries said on Monday, in a sign of easing political tension between the Arab states
January 19, 2015
Oman Drydock Company has handed over its 300th vessel since starting operations in 2011.
The National Agricultural Development Company (NADEC) achieved net profits amounting to SR 107 million net profits in 2014.
A Dubai-based private firm is leading a consortium in bidding to develop solar and wind power plants for Egypt as part of the country's plans to diversify its power generation mix amid its worst energy crisis in decades, the company's chairman said.
The central bank let the Egyptian pound depreciate on the official market for the first time since July, allowing it to reach 7.19 pounds per dollar, its weakest level since auctions began in December 2012.
Saudi Basic Industries Corp (SABIC), one of the world’s largest petrochemicals groups, reported a 29 per cent plunge in fourth-quarter net income on Sunday.
The plant has a capacity for commercial export of 27 million cu ft per day of natural gas and 2,500 barrels per day of condensates.
Egypt gained notable improvements in confidence, exports and manufacturing, according to the World Bank’s report in January , which highlighted 1.2% growth for 2014.
January 18, 2015
Oil plunged close to six-year lows last week on oversupply worries, before staging a slight recovery as the International Energy Agency (IEA) declared there were signs that “the tide will turn”.
The financial aid will include other sectors such as infrastructure and technology, part of a total aid package for the Middle East amounting to $2.5bn.
The Gulf region is one of the world's richest areas in sunshine, but its countries are way behind others in harnessing the energy
Qatar is considering imposing penalties against firms that fail to pay migrant workers on time, one of the biggest complaints voiced by rights groups against companies in the Gulf state.
Russian oil company Lukoil on Friday predicted that oil prices, which have more than halved since June last year, could plunge as low as $25 per barrel.
January 17, 2015
Mohammad Reza Bahraman who was speaking in a press conference on Tuesday said that $00bn of the total figure had been defined for projects in oil and gas sector.