Iran’s nuclear deal with the world powers is expected to spur the country’s oil exports and thus further support the downward trend in global oil
Category: Mena
Israel Chemicals Buys Allana Potash Corp for $137 million
Israel Chemicals Ltd, known as ICL, will acquire Allana Potash Corporation for $137 million. Allana’s CEO, Farhad Abasov, commented that there was no other way
Mounting Concerns in Oil Sector due to Yemen Bombing
Although Yemen is only a minor oil producer accounting for about 0.2 percent of the world’s oil production, recent bombing of the country by Saudi
Oil Giants Propose Cuts in Development Spending in Iraq
Oil firms have proposed that they will cut development spending in Iraq worth millions of dollars after Bagdad announced that cheap oil and its fight
FAO’s Report Predicting Fertilizer Trends to 2018
Food and Agriculture Organization of the United Nations (FAO) has recently published the report “World Fertilizer Trends and Outlook to 2018” predicting that global fertilizer
Saudi Arabia: New King, Old Oil Policy
Saudi Arabia’s new king Salman is expected to keep oil production unchanged in order to discourage competitors and defend market share. Despite the expectations of
Oman Criticizes OPEC for Keeping Oil Production Unchanged
Oman’s Oil Minister, Mohammad bin Hamad al-Rumhy, recently (21 January) censured OPEC’s decision not to cut oil production to support the prices saying that this
Iraq Announces its Record Oil Output
After Iraq, an OPEC member, had announced its record crude production, Brent crude oil prices went down below $50. Iraq’s Oil Minister, Adel Abdel Mehdi,
Oil Drops below $45 while OPEC Standing Firm on Output
The Organization for Petroleum Exporting Countries (OPEC) is unshakable in its decision not to cut oil production to prop up prices. The cartel still insists
Libya Fighting Spreads: Extremists Seek to Capture More Oil and Gas Resources
As Libya’s armed groups fought for control over the country’s largest oil depot in the eastern port of Es Sider, a rocket set a storage