Algeria -based Sonatrach and GE have signed a Memorandum of Understanding to launch a joint venture to manufacture equipment used in the oil and gas industry, a report said.
The company aims to produce drilling and production equi
Saudi Arabia's economic growth eased to an annual 3.8 per cent in the second quarter of 2014, the lowest rate in a year, because of a slowdown in the oil sector, official data showed on Wednesday.
But the first-quarter growth
A comeback by Libya's oil industry may be short-lived as a confrontation between armed groups risks splitting the country three years after the fall of Muammar Gaddafi.
Oil production has risen to 650,000 barrels per day (bpd)
Bahrain's gross domestic product (GDP) grew by 4.2 per cent in the in the first quarter of this year, bolstered by the return of Abu Sa'afa oilfield to full capacity after unscheduled maintenance last year, a report said.
Bahrain's economy is set to grow by 4.5 per cent this year and over 5 per cent next year, according to a leading private bank's top economist.
The main driver of GDP growth in the kingdom will be the oil sector, Standard C
Indian investors can benefit from the GCC oil industry, said experts at a major seminar organised by the Bahrain Chamber of Commerce and Industry's (BCCI) Bahrain Asian Traders Committee (BATC) yesterday.
Businessmen at the
Backed by a strong oil sector and large government stimulus generating impressive growth figures, Saudi Arabia’s real GDP is expected to grow by 5.7 per cent this year, said a report.
Provisional data show the non-oil sector grew
Bahrain has implemented projects worth over $1 billion to address the health, safety and environment issues related to its oil and gas projects, said the kingdom's oil and gas affairs minister.
Inaugurating the SPE 2010 Mid
Saudi Arabia's oil sector gross domestic product fell 6.4 per cent this year, its worst performance in at least four years, data showed, after Opec's most influential member cut output to support declining prices.