The UAE has overtaken Qatar to become the region's second largest energy investor with its potential capital in the sector totaling around US$74 billion during 2011-2015, official figures have shown.

Statoil, Norway's biggest oil producer, plans to challenge Abu Dhabi National Oil Co's existing partners such as ExxonMobil Corp and Royal Dutch Shell for a role in the UAE's resources.

Kuwait's northern oil fields have seen a ramp up in production which has come about by the successful completion of an early production facility that has increased oil production in the country's north fields to 860,000 bpd.

Standard & Poor's Ratings Services placed its 'A/A-1' long-term and short-term local and foreign currency ratings on the Sultanate of Oman (Oman) on CreditWatch with negative implications.

UAE-based MIS Group (Maritime Industrial Services - OSE: MIS), announced the appointment of Chris Parker MBE, as Executive Vice President for MIS Iraq.