Middle-east Arab News Opinion | Asharq Al-awsat

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The logo of the Organization of the Petroleum Exporting Countries (OPEC). Reuters

OPEC, UAE Launch Global ‘Oil & Gas’ Database

by Asharq Al-Awsat | Apr 12, 2017 | Business

Dubai- The Organization of the Petroleum Exporting Countries (OPEC) and the United Arab Emirates’ ministry of energy will next week launch the first phase of a new global oil and gas database project aiming to develop an easy-to-use tool to analyze energy...

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A pump jack stands idle in Dewitt County, Texas January 13, 2016. REUTERS/Anna Driver/File Photo

Oil Jumps in Knee-jerk Reaction after Strikes on Syria

by Asharq Al-Awsat English | Apr 7, 2017 | Business

Oil futures jumped more than 2 percent to a one-month high on Friday after the US launched an attack on Syrian airbase leaving repercussions on global markets and raising concerns in the oil-rich region. Oil, gold, foreign exchange, German and US 10-year bonds, all...

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Mohammed Sanusi Barkindo, Secretary General of Opec speaks during a meeting at the Eni Congress Center in Rome, Italy, September 20, 2016. REUTERS/Remo Casilli/files

Barkindo Reassures OPEC Members of Iraq’s Commitment to Cut Deal

by Asharq Al-Awsat | Apr 3, 2017 | Business

Baghdad – OPEC Secretary General Mohammed Barkindo reiterated Iraq’s assurances on full compliance with an agreement to cut oil supply in order to bolster crude prices. Iraq’s compliance stands now at 98 percent, the nation’s oil minister Jabar...

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Oil tanks seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. REUTERS/ Ali Jarekji/File Photo

Saudi Arabia Cuts Taxes on Oil Firms

by Shuja Al-Baqmi | Mar 28, 2017 | Business, Saudi Arabia

Riyadh – Custodian of Two Holy Mosques King Salman bin Abdulaziz has ordered a package of reductions on tax regime for oil and hydrocarbon producers operating in the Kingdom of Saudi Arabia. A royal decree stipulated that the price of income tax on the tax...

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Khalid al-Falih Saudi energy minister attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 19, 2017. REUTERS/Ruben Sprich

Saudi Arabia Cuts Exports to Stabilize Global Oil Market

by Wael Mahdi | Mar 21, 2017 | Business

Khobar- OPEC’s production cut deal, meant to ease the glut holding up the oil market, went into effect as of the start of this year and the Kingdom of Saudi Arabia has shown nothing but commitment to the deal. Saudi oil exports and production went down in rates even...