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Iraqi oil field worker in Basra
June 25th, 2026 - 12:14 GMT
P. Choiaqo

P. Choiaqo

Iraq rethinking its OPEC membership due to oil production limits

ALBAWABA - In a Reuters exclusive report: Iraq, one of the founding members of OPEC, is now considering leaving the organization after Strait of Hormuz disruptions and limited oil production quotes hit the county hard. “Saudi Arabia and ​other OPEC allies should treat this matter with the utmost seriousness. Failing that, Iraq will be compelled to consider all available options,” a senior Iraqi oil ⁠ministry official told Reuters. Iraq’s economy ...
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Tourists on a dhow boat in the Strait of Hormuz, Musandam, Oman. (Shutterstock/Imran's Photography)
June 26th, 2016 - 08:30 GMT

Oman's tourism 2040 strategy will create 500,000 jobs: Ministry

Saudi King Salman bin Abdulaziz Al-Saud had earlier issued a decree to secure Egypt’s needs of petroleum over the next five years. (File photo)
June 26th, 2016 - 07:43 GMT

Egypt: $650M in fuel products received from Saudi Arabia in May and June

Sukuk issuance has been growing in Turkey and Qatar. (File photo)
June 26th, 2016 - 06:30 GMT

Islamic banking outgrows conventional banking in Turkey, Qatar

For the British energy sector, Oil & Gas U.K. said in a statement the industry is "at a critical juncture."  (Shutterstock)
June 26th, 2016 - 05:00 GMT

Oil prices suffer one of worst slides in recent history following Brexit vote

Prime Minister David Cameron in 2013 with the Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan. (Stefan Rousseau)
June 24th, 2016 - 05:25 GMT

Brexit vote rekindles hope for new UK-GCC free trade agreements

Economists say the bilateral trading landscape between the GCC and the UK may not necessarily be harmed by Brexit. (Shutterstock)
June 24th, 2016 - 11:41 GMT

Brexit: A weaker pound presents opportunities for GCC investors

Al Bawaba
June 24th, 2016 - 08:37 GMT

Global markets take a tumble as UK votes to leave the EU

Nearly 100,000 animal rights campaigners signed a petition to protest the opening of a Sea World park in Dubai last year. (Sea World San Diego)
June 23rd, 2016 - 12:00 GMT

After Dubai controversy, Sea World mulls Saudi entry

The main reason almost all cities in the Middle East increased in rank is that their currencies are pegged to the US Dollar.  (File photo)
June 23rd, 2016 - 11:00 GMT

Arab capitals climb the 'most expensive cities' lists

The ban comes after the CSRD sentenced MMG founder Mohammad Al-Mojil and his son Adel Al-Mojil, the firm’s chairman, to five years in jail on Thursday. (Deloitte)
June 23rd, 2016 - 10:00 GMT

Deloitte 'disappointed' after two-year ban decision by Saudi regulator

The deal with the SGRF is part of a new $275-million capital raising by Kenmare. (Shutterstock)
June 23rd, 2016 - 09:00 GMT

Oman state fund invests $100M in Irish mining company

Microsoft CEO Satya Nadella met Deputy crown prince Muhammad Bin Salman in Silicon Valley on Tuesday. (AFP/File)
June 23rd, 2016 - 08:00 GMT

Saudis to receive computing tech training in new Microsoft deal

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