Economic sanctions on Iran have finally been lifted, even as the price of oil tumbled to below US$28 a barrel at the start of the week

PACC Offshore Services Holdings Limited (POSH), Singapore-based offshore marine services provider, has entered into a joint venture (JV) with Saudi Arabia’s Hmood Al-Khalaf Group to form POSH Saudi Company as part of its plans to expand its presence in the Middle East

Saudi Arabia’s government is considering selling shares in state oil giant Saudi Aramco as part of a privatisation drive to raise money due to falling oil prices, deputy crown prince Mohammed bin Salman has revealed

Gulf Keystone Petroleum, DNO and Genel Energy have confirmed that they have received payments from the regional government for the oil exported from Kurdistan Region of Iraq

Oman’s government has released a five-year plan to halve the economy’s dependence on the oil industry as low crude prices increases pressure government finances