Low production costs for Middle East companies offer regional players significant competitive advantage in the low price segment of an oil ‘super cycle’, a report said.
The depressed oil prices predominant since late l
King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast, expects to attract about 50 new companies to establish operations this year, versus 35 last year, KAEC's managing director said.
King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast near Jeddah, expects its inflow of new corporate tenants to speed up this year as the economy proves resilient to low oil prices, KAEC's managing
Despite a sizeable fiscal deficit this year and the next due to decline in oil prices, Oman is likely to avoid deep cuts in spending as the real GDP grows by 4 per cent in 2015 before moderating to 3.7 per cent in 2016, a report said.
Global crude oil prices are not expected to fall in the second half of 2015 and it was still too early to talk about Opec's supply decision when the group meets next in June, Kuwait's Opec governor said on Monday.
With weak oil prices eroding Bahrain’s economy, the residential market remains at high risk of losing its momentum of growth, with declines likely towards the end of the year as demand starts to wane, a report said.
Top oil firms Royal Dutch Shell and Total are bringing their refining and trading operations closer together, seeking alternative ways to drive profits as oil prices fall and independent trading houses expand into their territory.
Low oil prices are slowing new economic projects in Saudi Arabia and the UAE but project awards have accelerated in Qatar and Kuwait, Abu Dhabi Commercial Bank said on Thursday in a report showing the mixed impact of cheap oil on the Gulf.
Kuwait’s trade surplus slipped in 2014 for the first time in six years, falling by 18 per cent to KS19.8 billion ($65.5 billion), mainly due to lower oil export receipts, a report said.
A decline in non-oil export earnings a
Lifting sanctions on Iran's oil industry could significantly change the outlook for oil supply and prices, the head of the US Energy Information Administration told US legislators.
"If and when sanctions are lifted, EIA