Occidental Petroleum (Oxy) and Mubadala Development are pulling out of the joint partnership firm — Tatweer Petroleum — that has managed Bahrain Field operations since 2009

Oil prices hit US$50 a barrel on Thursday for the first time in seven months owing to supply disruptions and increased global demand

By the end of June 2016, oil prices could be up to US$57 a barrel and US$73 by 31 December 2016, but Saudi Arabia, Iraq and Iran are still having an impact on the oil price downturn

Amec Foster Wheeler has announced that it has been awarded a front end engineering design (FEED) contract by Kuwait Oil Company (KOC) to upgrade its Oil Gathering Centre GC-24

State-owned Bahrain Petroleum Company (Bapco) has announced a strategic joint venture with Greenergy, a large-scale blender of gasoline based in the UK