Oman cuts 2016 spending as oil prices fall
Oman will cut spending this year by 15.6 percent in the face of lower oil prices but still face a huge deficit after posting...
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...
Saudi Aramco seeks discounts on drilling costs-sources
State-run Saudi Aramco has asked oilfield service companies to extend discounts to next year as the oil giant cuts costs amid falling oil prices,...
Turkish central bank move raises questions over independence
Turkey's currency plunged Tuesday amid growing questions over the central bank's ability to set policy without interference from the increasingly powerful office of President...
Kuwait oil row as minister tries to shuffle top executives
The chief of state-owned Kuwait Petroleum Corp has refused to carry out the oil minister's decision to swap the CEOs of two subsidiaries, risking...
U. A. E lays out new migrant labor reforms
The United Arab Emirates is introducing labor reforms that aim to tighten oversight of employment agreements for the millions of temporary migrant workers that...
Saudi to overhaul floundering financial district and economic cities
Saudi Arabia is revising plans for a glitzy financial district in Riyadh and the creation of six industrial cities, after the projects were plagued...
Saudi energy minister: Oil market heading toward a balance, prices settling
The energy minister of Saudi Arabia, the world's largest oil exporter, and the secretary general of OPEC agree that the global oil market is...
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,...
Lebanon faces economic ‘catastrophe’ according to the new Prime Minister
Debt-ridden Lebanon faces an economic "catastrophe", Prime Minister Hassan Diab said on Wednesday as his newly unveiled cabinet met for the first time.
The U.S....
