Search Results for: Gulf
Saudis to take control of largest U.S. refinery
March 22nd, 2016
The crown jewel among America’s oil refiners may soon be owned by Saudi Arabia. Saudi Aramco, the state oil company of OPEC’s most powerful player, recently announced plans to take full control of the sprawling Port Arthur, Texas refinery. ...
Iraq exports first natural gas shipment in its history
March 21st, 2016
Iraq has exported the first shipment of natural gas in its history, a key development for the OPEC member. The move revives a long-sought ambition by Iraq to be a gas exporter, thanks to a joint venture with Anglo-Dutch ...
Shell, Saudi Aramco Plan to Break Up Motiva Partnership
March 17th, 2016
Ownership of biggest refinery in the U.S. will shift to Saudi Arabia’s hands Oil giants Royal Dutch Shell PLC and Saudi Arabian Oil Co. plan to end their long-standing fuel partnership, putting ownership of the biggest refinery in the U.S. in ...
Saudi Arabia Said to Join Mid-April Oil Producer Meeting in Doha
March 17th, 2016
Crude prices have risen more than 30% since freeze proposed Qatar meeting would seek more commitments to cap production Saudi Arabia will join a meeting of producers from within and outside OPEC in Doha next month, adding weight to ...
Kuwait approves economic reforms including the introduction of a 10 per cent Corporate tax
March 15th, 2016
Kuwait approves 10 per cent corporate tax, other reforms as deficit widens Kuwait’s cabinet has approved economic reforms including the introduction of a 10 per cent tax on corporate profits to narrow a budget deficit caused by low oil ...
Oil Prices Sink As Investors Lose Faith In OPEC Freeze
March 11th, 2016
Two hundred and twenty-two years after John Stone patented the pile driver, and the oil market is trying to dodge getting hammered today. After yesterday’s EIA-inspired hullabaloo, oil is looking lower. Here are seven things to consider on this ...
Saudi Arabia to hold out bond mandate prospect to banks
March 8th, 2016
Banks were briefed that the largest lenders on the loan, which may be as much as $10 billion, will also probably be appointed to arrange the bond Dubai: Saudi Arabia is holding out the prospect of a role in ...
Gold price forecast revised. What a ABN Amro analysis suggest?
March 7th, 2016
Gold to average $1,200 through 2016 Analysts revise price forecast as gold posts stellar performance in the first two months of the year Gold, which has staged a stellar performance this year – climbing about 19 per cent in ...
Russia to freeze oil output at January level – Putin
March 3rd, 2016
President Vladimir Putin has said Russia will freeze this year’s oil output at January’s production level. An agreement was reached during his meeting with the heads of the country’s oil majors on Tuesday. Putin said Energy Minister Aleksandr Novak ...
Arab States Face $94 Billion Debt Crunch on Oil Slump, HSBC Says
February 29th, 2016
$52 billion of bonds, $42 billion of loans due this, next year Refinancing challenging with slow growth, rating downgrades Gulf Cooperation Council countries may struggle to refinance $94 billion of debt in the next two years as the region ...
