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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Many OPEC countries have some of the world’s lowest production costs, which is a benefit in a low price environment.

Many OPEC countries have some of the world’s lowest production costs, which is a benefit in a low price environment.

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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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IMF report: The sharp collapse in the oil price will put more burdens on the global economy

The International Monetary Fund (IMF) warns that the sharp collapse in the oil price will put more burdens on the global economy. The financial strains on exporters and the deep investment cutbacks...

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