Royal Dutch Shell has confirmed it is to suspend its interests in oil and gas exploration blocks in Libya, while BP has announced that it is to recommence oil exploration in the country
Industry
Dow awarded US$2.16 billion in compensation from Kuwait
US-based Dow Chemical Company has been awarded US$2.16 billion in compensation from Kuwait by an international arbitration for the cancelling of a planned joint venture in 2008
Region can look forward to US$530 billion investment in energy
The Middle East can expect an investment of around US$530 billion in the energy industries between 2012 and 2015, of which 60 per cent will be concentrated on the GCC countries, according to Bahrains energy minister
Northern Iraq warned against unilateral oil export deals
Iraq has warned the semi-autonomous region of Kurdistan that its oil export deals with Turkey must have Baghdads approval
RAK Petroleum posts Q1 profit for fourth consecutive year
UAE-based energy investment company RAK Petroleum has posted a net profit of AED 81.3 million (US$22.1 million) for the first quarter of 2012
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