ARCHIVE
ARCHIVE

Majnoon field: Iraq may offer Total, Chevron terms different from Shell

Saturday, 21 October 2017

Iraq may offer Chevron and Total terms to develop the Majnoon oilfield different from those it had given to Royal Dutch Shell, Iraqi Oil Minister Jabar al-Luaibi said on Saturday. Iraq will develop the Majnoon oil field in southern Iraq by its own means until it can find a foreign partner, Luaibi told reporters, adding that no company has been selected yet. Luaibi said on Oct. 9 that Chevron and Total are among the companies that have expressed interest in developing ...

Only Saudi Women will be entitled to run females’ supplies stores in the Kingdom

Saturday, 21 October 2017

Only Saudi women will be entitled to run females' clothing stores across all regions of Saudi Arabia, following implementation of the third phase of a government decision to feminize such outlets starting from Saturday. The third stage of feminization comes as continuation of the first and second phases launched by the Ministry of Labor and Social Development during the past years, according to a statement on Saudi Press Agency. “Feminization is to include selling of women's perfumes, ...

Saudi-Iraqi cooperation behind boost in oil prices, says Falih

Saturday, 21 October 2017

Saudi Arabia's Oil Minister Khalid al-Falih and his Iraqi counterpart Jabar al-Luaibi, agreed on Saturday to cooperate on implementing decisions by the Organization of Petroleum Exporting Countries to curb oil global oil supply, Iraq's oil ministry said. The two ministers met in Baghdad, the ministry said in a statement. Falih was received at the Baghdad International Airport by Luaibi this morning. Falih later attended the opening of the 44th session of Baghdad International Fair 2017 in which ...

Malaysia Airlines appoints group CEO to replace Bellew

Friday, 20 October 2017

Malaysia Airlines Berhad on Friday appointed Captain Izham Ismail as group chief executive officer designate with immediate effect following the departure of Peter Bellew after just over a year in the job. Izham, who has served as chief operating officer since last November, will be the third person to take the CEO job in two years. The airline said in a statement that Izham will officially assume the post on December 1, after Bellew completes administrative leave. ...

GE profits fall, sending shares sharply lower

Friday, 20 October 2017

General Electric reported a decline in third-quarter profits on Friday, sending shares sharply lower, as weakness in the oil and gas and power businesses once again weighed on results.The US industrial conglomerate, newly led by chief executive John Flannery, reported net profit of $1.8 billion, down 9.7 percent from the year-ago period.Revenues were $33.5 billion, up 14.4 percent, reflecting the effects of the Baker Hughes oil services acquisition.The results are the last before a November 13 ...

Uber rival Lyft says Alphabet leads latest $1 bln round of funding

Thursday, 19 October 2017

Uber rival Lyft said on Thursday Capital G, the growth investment fund of Google parent company Alphabet Inc, led a $1 billion round of financing, boosting the valuation of the ride-hailing service to $11 billion.The company already received an investment from GM but it looks like Lyft is shifting more to Alphabet, which has its own autonomous car development platform Waymo. Lyft also said that CapitalG partner David Lawee will be joining the company’s board. 

OPEC seeking consensus on oil supply cut extension before meet

Thursday, 19 October 2017

Oil producers are working to build consensus on extending their deal to reduce supplies, OPEC’s secretary general said on Thursday, with the potential for continuation throughout 2018 forming a basis for talks. The Organization of the Petroleum Exporting Countries, plus Russia and nine other producers, are cutting oil output by about 1.8 million barrels per day (bpd) until March 2018 in an attempt to eradicate a supply glut that has weighed on prices. The deal has supported prices, which ...

UAE retailer MAF trawls Silicon Valley for data specialists

Thursday, 19 October 2017

Dubai’s Majid Al Futtaim, the Middle East operator of French retailer Carrefour SA, is hiring 200 people as it rolls out an ambitious strategy to expand its digital and e-commerce operations, its chief executive told Reuters. Majid Al Futtaim, which in June acquired the franchise owner of Geant supermarkets in the Gulf, is bringing data scientists and engineers from Silicon Valley to make best use of its data, CEO Alain Bejjani said in a telephone interview. The business has started ...

Saudi wealth fund PIF launches real estate refinancing company

Thursday, 19 October 2017

Saudi Arabia’s Public Investment Fund (PIF) has launched a real estate refinance company, aimed at injecting liquidity into the property market and raising the rate of home ownership among Saudis. The sovereign wealth fund, believed to have about $180 billion of assets, has been charged with a growing array of responsibilities including leading urban development and industrial projects aimed at cutting the kingdom’s reliance on oil exports. Increasing ...

Iraqi Kurdish oil pipeline flow to Turkey at 240,000 bpd

Thursday, 19 October 2017

Crude oil flows through the Iraqi Kurdish pipeline to the Turkish port of Ceyhan are averaging around 240,000 barrels per day (bpd), a shipping source said on Thursday. Flows were briefly switched off in the early hours of Wednesday before returning to around 225,000 bpd in the afternoon. The level has been fluctuating at around 10,000 barrels per hour. It dipped on Thursday morning to just over 8,000 barrels per hour after hitting a high of around 12,000 barrels per hour.  Technical ...

Top
BREAKING NEWS
How are we doing?
X

How are we doing?

Name Name *
Email Email *
Country Country
Message Message *
Maximum 550 words allowed