Russian oil chief Sechin: OPEC unity effectively extinct
OPEC is effectively extinct as a united organisation and the time when it could determine global oil market conditions should be forgotten, Igor Sechin,...
Saudi confirms 'genuine' $681 million donation to Malaysian PM
Saudi Arabia has for the first time publicly confirmed Malaysia's claim that the Saudi royal family deposited $681 million into Prime Minister Najib Razak's...
Kuwait in deal to import 2.5 million tons of liquefied gas
Kuwait's state oil company has signed deals to import 2.5 million tons of liquefied gas per year into the country to help power electricity...
Oil price slump 'wake-up call' for producers: IMF chief
The head of the International Monetary Fund said Tuesday that the global slump in oil prices was a "splendid wake-up call" for energy-producing countries...
Dubai's Emirates sees 9% passenger growth in 2015
Dubai's Emirates airlines carried 51.3 million passengers in 2015, up nine percent from last year, the company said Wednesday.
CEO Tim Clark said the year...
Oil stages modest rebound
Oil rebounded on bargain-buying Wednesday after the previous day's plunge but analysts warned any gains would be limited as the global glut showed no...
Egypt eyes tough reforms in bid to save economy
Egypt hopes a $12-billion financing deal with the IMF will usher in an economic turnaround but real progress hinges on a tough reform package...
Bill Gates looks to Gulf in anti-poverty campaign despite oil glut
Low oil prices and tight budgets in the Gulf are making it harder to raise money for a fund tackling poverty in the Muslim...
Sikorsky to explore helicopter production in Saudi Arabia
Saudi Arabia's Taqnia Aeronautics and Sikorsky, owned by U.S. company Lockheed Martin, have agreed to look at producing Black Hawk helicopters in the kingdom,...
Saudi Prince Sultan bin Salman says jobs are top priority
Saudi Arabia's Prince Sultan bin Salman said Tuesday that after years of his government "throwing funding" into sectors that failed to boost the economy,...
