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Iraqi oil field worker in Basra
June 25th, 2026 - 12:14 GMT
P. Choiaqo

P. Choiaqo

Iraq rethinking its OPEC membership due to oil production limits

ALBAWABA - In a Reuters exclusive report: Iraq, one of the founding members of OPEC, is now considering leaving the organization after Strait of Hormuz disruptions and limited oil production quotes hit the county hard. “Saudi Arabia and ​other OPEC allies should treat this matter with the utmost seriousness. Failing that, Iraq will be compelled to consider all available options,” a senior Iraqi oil ⁠ministry official told Reuters. Iraq’s economy ...
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Despite plans to close 100 US stores, Macy’s will be opening in Abu Dhabi in 2018. (Arabia Style)
August 30th, 2016 - 06:11 GMT

The department store is not dead, according to the Majid Al Futtaim Group

The IOCs' interest in the third Cypriot licensing round stems from Eni's major Zohr gas discovery in August 2015, in northern Egyptian waters about five miles from Cypriot wa­ters. (Pexels)
August 30th, 2016 - 05:02 GMT

After Egypt's gas discovery, oil majors rush to bid for Cyprus' offshore blocks

Following laws to mandate Saudization in the telecoms sector, the ministry is expected to focus its efforts on the car sales and rentals sector. (File photo)
August 30th, 2016 - 04:30 GMT

Saudi Arabia targets charities in latest Saudization drive

Women make up just 26.7 per cent of all its oil and energy industry profiles, the lowest percentage among the industries examined.  (Mena Herald)
August 29th, 2016 - 01:00 GMT

Breaking the glass ceiling in energy: Oil and gas sector struggling with gender equality

It takes approximately one year to drill, another year for appraisal, two to three years to hammer out a production plan and another two to three years for full production before Lebanon can begin exporting gas. (Shutterstock)
August 29th, 2016 - 12:00 GMT

Lebanon's gas production and export will take seven years after decrees passed

The government originally proposed the tax rate to be 14 per cent but agreed to comprise the rate by one per cent to meet the demands of MPs calling for a lower rate. (Wikimedia Commons)
August 29th, 2016 - 11:00 GMT

Egypt's lawmakers agree on 13 percent VAT rate

Queen Rania stressed that patience is essential in every field except in education, due to the fast pace of advancements with which Jordan must keep up. (Instagram/Queen Rania Al Abdullah)
August 29th, 2016 - 10:12 GMT

Jordan's Queen Rania presses for educational reform

OPEC’s second-largest producer, trailing Saudi Arabia, Iraq depends on oil sales for 95 percent of its public spending. (AFP/File)
August 29th, 2016 - 08:54 GMT

Iraq to vie for a larger slice of the oil market

The new measures appear to be a response to directives issued by Saudi’s King Salman earlier this month, designed to protect foreign workers and guarantee they are paid. (File photo)
August 29th, 2016 - 06:00 GMT

Saudi labor ministry to provide legal aid in unpaid expat workers' disputes

Airport fees have until recently been avoided by Gulf states as they seek to gain a competitive advantage for business and to become regional hubs.  (Flickr/Mohamod Fasil)
August 29th, 2016 - 05:00 GMT

Qatar to introduce airport passenger tax from August 30

Oil producing countries will hold an informal meeting in Algeria next month though it looks unlikely that they will reach an agreement to cut or freeze production to prop up oil prices.  

 (File photo)
August 29th, 2016 - 04:13 GMT

UAE to raise petrol prices in September

Uber and Careem suspended their operations in Abu Dhabi as of yesterday, August 27. (File photo)
August 28th, 2016 - 12:00 GMT

Uber, Careem suspend services in Abu Dhabi

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