Economic sanctions on Iran finally lifted, oil tumbles to below US$28 a barrel
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
Industry
Singapore’s POSH signs JV in KSA for Middle East expansion
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
KSA may sell oil giant Saudi Aramco shares
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
Kurdistan Region of Iraq makes payments to IOCs
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 set to diversify economy, be less reliant on oil’
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
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