Newly discovered oil and gas reserves announced last month by Bahrain open massive economic opportunities for the kingdom at a challenging time in the region. Simon Galpin of the Bahrain Economic Development Board detected an immediate “boost in confidence” both among domestic consumers and would-be foreign investors. Bahrain’s current oil output of around 200,000 barrels…
Led by Crown Prince Mohammed bin Salman, Saudi Arabia is fast moving on the path of diversification thereby reducing the country’s reliance on hydrocarbons. In the past few months, many initiatives have been taken to ensure a wholesome development of the country, while building a global reputation. However, it needs a greater effort to ensure…
Fatih Birol, executive director of IEA, discusses a rebalancing in oil markets, oil production, US markets and prices.
Bassel Khatoun, chief investment officer for MENA equities at Franklin Templeton Investments, discusses oil markets and the impact of the Iraqi-Kurdish clashes on prices. Oil prices to undergo massive fluctuation from Mediaquest on Vimeo. Oil markets from Mediaquest on Vimeo.
Like other Middle East nations, Bahrain confronts some painful choices in the aftermath of the recent plunge in oil prices. Its situation also presents a unique geopolitical case study so complex that it makes firm predictions for the future not only impossible, but also inadvisable. Bahrain has serious economic handicaps, especially since nothing in the…
When US President Donald Trump decided to embark on his maiden overseas trip in May this year, he opted to visit the Kingdom of Saudi Arabia, the second-largest state in the Arab world after Algeria and the world’s largest oil producer and exporter. The ensuing $350-billion arms deal – the biggest in history – just…
The Abu Dhabi National Oil Company (ADNOC) has announced the expansion of its partnership model to span the Group’s entire value chain as well as the more active management of its portfolio of assets. This new initiative builds on ADNOC’s flexible operating model and its 2030 growth strategy. It will enable ADNOC to unlock and…
Oil producers remain optimistic even as crude prices dropped further by the end of the second quarter. The UAE expects oil demand to pick up over the third and fourth quarters of 2017, charged by the optimism over the impact of OPEC’s recent decision to extend oil supply curb into 2018, state news agency WAM…
Algeria is stepping up efforts to diversify its economy, seeking to move away from a dependence on hydrocarbons and sharpen its focus on the manufacturing sector, as it works to offset falling returns from oil and gas and to parlay growing domestic demand, access to regional markets and stability into investment. On April 10, the…
MENA markets, with the exception of Egypt closed in the red for the month of May. Dubai, Abu Dhabi, Saudi Arabia and Qatar markets shed 2.2 percent, 2.1 percent, 2 percent and 1.6 percent respectively. These findings have been revealed by Kuwait Financial Centre ‘Markaz’ in its Monthly Market Research report. In this report, Markaz…
