Oil prices rise to highest level in 5 months

Sentiments about an emerging balance in energy markets Friday helped add positive pressure to the continuing rebound in crude oil prices. Crude oil prices are at their highest levels in roughly 5...

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Russia easing control over oil companies

There may be buyers already in place to help privatize some of the largest oil companies in Russia, the country’s first deputy prime minister said. The Kremlin has been reviewing privatization...

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Some BG Group offices to close

Royal Dutch Shell said Monday it was closing some of the offices in the United Kingdom for BG Group as both companies move forward under a united structure. British energy company BG Group became a...

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Saudi Arabia set to sign $21.5bn energy, development deals with Egypt

Saudi Arabia is expected to sign a $20 billion deal to finance Egypt’s petroleum needs for the next five years and a $1.5 billion deal to develop its Sinai region, two Egyptian government...

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GCC countries set to pump $100bn into renewable energy

GCC countries plan to pump up to $100 billion into renewable energy projects over the next 20 years, according to the Kuwait Institute for Scientific Research (KISR). Dr Samira Ahmad Omar,...

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Egypt to cut fuel subsidies 43% as gov’t seeks to reduce deficit

Egypt will reduce spending on fuel subsidies by nearly 43 percent in the 2016/17 budget due mainly to lower global energy costs, officials said on Saturday. Finance Minister Amr al-Garhy told a news...

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Under the patronage of HE Prime Minister of Qatar, Gulf Safety Forum to take place in Doha

It was announced today by the Gulf Organization for Industrial Consulting (GOIC) and Euro Petroleum Consultants that HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani, Prime Minister and Minister of...

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Newsletter March 2016

3/2016 English 3/2016 Arabic

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Gazprom gas deliveries up in 2016

Gazprom’s gas transports to European countries outside the Commonwealth of Independent States were up 33.5% year-on-year during the first few weeks of 2016, the company announced In total, 36.5 bcm...

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Russian Energy Minister Alexander Novak: We’re ready to discuss cutting oil output volumes

In an interview with Bloomberg, Russian Energy Minister Alexander Novak said, “We’re ready to discuss the issue of cutting oil output volumes and ready to consider the possibility. “This...

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