Money market rates in the UAE hit their highest levels in roughly two years on Tuesday as low oil prices slashed state oil revenues, leaving banks with less money to lend.
The economies of the rich Gulf Arab oil exporters have so
Oil prices rose on Tuesday, heading for the first three-day gain in five weeks, on signals that the world's biggest producers of crude may act jointly to support prices, which have halved over the past year.
Brent crude, the g
Egypt has awarded four new licences to explore for oil and gas off its Mediterranean coast, weeks after Eni's giant Zohr gas find piqued fresh international interest in the area.
Egypt's state gas company EGAS said in a st
Petronash, a leading UAE-based specialist in oil & gas equipment, has unveiled a strategy to accelerate its local and international growth with key partnerships and local value addition in various countries.
The company flagge
Intertek, a leading quality solutions provider to industries worldwide, has won a third party inspection procurement contract for the South Oil Company in Iraq, a national Iraqi company responsible for all the oil and gas projects in southern
Oil exports from northern Iraq rose in September to an average of 600,463 barrels per day (bpd), the Kurdistan region's ministry of natural resources said.
That represents an increase of around 127,000 bpd
Oil rose after Russia said it was ready to meet other producers to discuss the market, where prices have more than halved from last year's highs due to a supply glut.
A report showing a fifth weekly fall in
Global oil investments this year are on track to drop by 20 per cent, marking their biggest decline in history, Fatih Birol, head of the International Energy Agency, said on Friday.
A halving in oil prices in t
Saudi Arabia is continuing with its investments in the oil and gas industry as well as solar energy despite the current drop in oil prices, the kingdom's oil minister was quoted as saying on Friday.
Oil rose on Friday, pushed higher by fears about escalating violence in Syria and on expectations that data would show economic strength in the United States, the world's largest oil consumer.