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oil and gas

Aug 11

World-class bulk liquid terminal taking shape at Duqm SEZ

World-class bulk liquid terminal taking shape at Duqm SEZ

Oman’s newest oil terminal, encompassing a complex of facilities for the storage and export of refined petroleum products from the under-construction Duqm Refinery & Petrochemical scheme, is rapidly taking shape within the Port of Duqm on the Sultanate’s southeastern coast.

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Aug 10

Aramco to pay $18.75bn dividend even as second-quarter net profit slides

Aramco to pay $18.75bn dividend even as second-quarter net profit slides

Saudi Aramco will pay a second-quarter dividend of $18.75 billion (Dh68.87bn) despite a 73.4 per cent fall in net profit due to lower oil prices and declining refining and chemicals margins during the coronavirus crisis.

The"...

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Aug 05

MEA ranks top in oil & gas M&A deals at $11bn in Q2

MEA ranks top in oil & gas M&A deals at $11bn in Q2

The Middle East and Africa region held the top position globally in announced merger & acquisition (M&A) deals with a total worth of $11.29 billion during the second quarter (Q2) of the year, said GlobalData, a data analytics and consulting company.

At the country level,"...

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Jul 30

Lebanon plunged into darkness as generator owners strike, power cuts worsen

Lebanon plunged into darkness as generator owners strike, power cuts worsen

Lebanon’s population was plunged into darkness after private generator owners went on strike for one hour yesterday over the rising cost of diesel, the National reports.

Lebanon was already struggling with"...

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Jul 27

Oil slips as US-China friction, rising virus cases weigh on markets

Oil slips as US-China friction, rising virus cases weigh on markets

Picture used for illustrative purpose. File

Oil prices edged lower on Monday as rising coronavirus cases and tensions between the United States and China pushed investors toward safe-haven assets.

Brent"...

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Jul 23

Renewed Gasoline Shortage Crisis in Lebanon

Renewed Gasoline Shortage Crisis in Lebanon

Motorists queued at fuel stations across the country on Wednesday amid a renewed gasoline and diesel shortage crisis linked to the scarcity of U.S. dollars in the country.

TV networks said some gas stations were"...

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Jul 22

Lebanon’s turmoil fuels brain drain

Lebanon’s turmoil fuels brain drain

BEIRUT (Reuters) – A pioneering academic at Lebanon’s most distinguished university, Charlotte Karam has enjoyed professional success that has made her decision to leave the country all the more heart-wrenching.

An"...

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Jul 21

Ghajar Says Power Cuts to Ease before Midweek

Ghajar Says Power Cuts to Ease before Midweek

Energy Minister Raymond Ghajar said on Monday that power supply is going to notably improve after weeks of power cuts that saw much of the country plunge into darkness, adding to the gloom of a deepening economic and financial crisis in the country.

“Various"...

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Jul 20

Local gasoline cheaper than oil producing countries

Local gasoline cheaper than oil producing countries

Local gasoline, at real market rate, has become cheaper than most countries, including oil producing countries thanks to the exchange rate support provided by the Central Bank (BDL) to fuel importers and the price control imposed by the State.

Most consumers’ incomes"...

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Jul 18

Ghajar Says No Investors for Lebanon's Ailing Power Sector

Ghajar Says No Investors for Lebanon's Ailing Power Sector

Lebanon's worsening economic crisis, which culminated with the tiny nation defaulting on its debt this year, is making it increasingly difficult to attract investors for the country's ailing electricity sector, Energy Minister Raymond Ghajar said Thursday.

This"...

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