Saudi Naimi says global oil demand can absorb Iran output jump
Saudi Arabian oil minister Ali al-Naimi said on Friday growing global demand could absorb an expected jump in Iranian production next year while the...
Oil prices rise after Saudi Arabia cuts ties with Iran
Oil prices rose Monday on Middle East supply risks after Saudi Arabia cut diplomatic ties with Iran.
At about 1230 GMT, US benchmark West Texas...
Iran sees oil output rising to pre-sanctions level by June
Iran's oil production will reach pre-sanctions levels within two months, a deputy oil minister was quoted as saying on Tuesday in what could be...
Egypt hikes natural gas prices by up to 75 percent
Egypt raised natural gas prices for households and businesses on Saturday by between 33.3 and 75 percent, the latest among tough austerity measures aimed...
World Bank to provide Egypt with first $1 billion of $3 billion loan
The World Bank will provide the first $1 billion tranche of a $3 billion loan to Egypt after parliament approves the government's economic programme,...
Oil slip on Saudi comments
World oil prices dipped Monday as Saudi Arabia cast doubt on whether a key producers meeting would reach an agreement to freeze output to...
Eastern Libya ships first oil cargo in defiance of Tripoli
A government based in eastern Libya has shipped its first cargo of crude in defiance of authorities in the capital Tripoli, a bold move...
Samsung Engineering reaches milestone in Saudi Arabia project
SAMSUNG Engineering Co., Ltd, revealed that it has reached a major milestone is terms of safety with Aramco’s Shaybah project. Samsung achieved the new...
Row over sandy tracks hits Spain-Saudi rail project
It is the biggest contract Spanish firms have ever undertaken abroad, a high-speed railway linking Islam's holiest cities, Makkah and Medina, in Saudi Arabia...
Kuwait spending on projects despite oil slump
Kuwait awarded projects worth a record $32 billion last year and plans to raise the figure in 2016 despite a sharp decline in oil...
