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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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Banque Misr is one of the top five banks in terms of assets’ size. (File photo)
May 8th, 2016 - 12:00 GMT

Egypt: Majority of banking assets held by five banks

Border closures with Syria and Iraq led to a sharp drop in exports to the most important traditional markets for Jordanian products.  (Cobone)
May 8th, 2016 - 11:00 GMT

Jordan appeals to EU to simplify trade restrictions

In December, Al Habtoor also called the American tycoon “Islam’s biggest enemy.” (AFP/Brendan Smialowski)
May 8th, 2016 - 09:41 GMT

UAE's Al Habtoor on Trump: 'A loose cannon, very dangerous to the world'

The project will use LED (light emiting diode) lighting systems which will achieve a minimum of 60 per cent drop in energy consumption. (Shutterstock)
May 8th, 2016 - 09:08 GMT

Abu Dhabi's $1.4B Mafraq-Ghuwaifat international highway 59 percent complete

In 2013, Qatar’s production from the field was two times higher than Iran’s. (Twitter)
May 8th, 2016 - 07:00 GMT

Iran to exceed Qatari natural gas production by 2017 from shared field

Iran had previously rejected calls to cut production until its output reached four million barrels per day. (File photo)
May 8th, 2016 - 05:00 GMT

Is Iran finally ready to join oil production freeze plan?

Ali al-Naimi, who has been in charge of the kingdom’s oil policy since 1995. (File photo)
May 8th, 2016 - 04:02 GMT

Saudi Arabia dismisses longtime oil minister in major cabinet shake-up

Companies such as Siemens, Lukoil, and Gazprom are attending the show in Tehran. (Shutterstock)
May 5th, 2016 - 11:56 GMT

Global giants flock to Iran Oil Show 2016

Prior to the 2011 uprising foreign reserves were almost $36 billion. (File photo)
May 5th, 2016 - 11:38 GMT

Egypt's foreign reserves reach $17B

The new stadium will be built on the site of Dubai Sports Club at Al Aweer area in Dubai. (Dubai Media Office)
May 5th, 2016 - 09:15 GMT

Dubai to build world's first fully air-conditioned stadium

The minister's visit “is part of Saudi policies to find alternatives to oil". (Shutterstock)
May 5th, 2016 - 08:00 GMT

Saudi Arabia to cooperate with Sudan on Red Sea mineral exploration

Motiongate Dubai will open in October 2016 and include five zones including Sony Pictures studios and Dreamworks Animation.  (Twitter)
May 5th, 2016 - 07:00 GMT

Dubai Parks and Resorts begins trading shares on Dubai Financial Market

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