International oil firms have warned Iraq that projects to increase its crude output will be delayed if the government insists on drastic spending cuts this year, a senior Iraqi oil official said on Friday.
Oil companies helping Ir
Saudi Arabia's government is expected to announce spending cuts and a drive to raise revenue from new sources as it lays out a strategy to cope with an era of cheap oil, people familiar with Saudi policy-making said.
Bahrain has approved short and medium-term measures to reduce government expenditures by 30 per cent and improve efficiency, a report said.
His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Comman
Bahrain’s government is gearing up to make additional spending cuts, with a new cap on borrowing approved by MPs referred to His Majesty King Hamad for ratification.
It follows parliament’s belated approval of a law fi
An advisory body to Oman's government has suggested sweeping spending cuts and tax rises, including a levy on liquefied natural gas exports, to cope with the hit to state revenues from the plunge in oil prices.
Oman has run a
US Republican lawmakers are "playing with fire" by contemplating even a brief debt default as a means to force deeper government spending cuts, an adviser to China's central bank said on Wednesday.
The idea of a technical default -- essent