Iran, creaking under the impact of U.S. sanctions, a collapse in oil sales and a severe COVID-19 epidemic, is scrambling to buy food and medicine to avoid a supply crunch. Continue Reading
Chinese state-held giant China National Petroleum Corporation (CNPC) is in advanced talks to buy a 10-percent stake in a giant natural gas field in Oman from BP in a deal Continue Reading
Saudi Arabia booked a deficit of $29 billion for the second quarter of the year because of the continued slump in oil prices and oil demand, which affected revenues. Reuters Continue Reading
Saudi Arabia may have little choice but to reduce the price of its oil as OPEC and allied producers start to ease output curbs amid weakening demand that’s crashed the Continue Reading
There are four key reasons why Iraq is increasing the pace of development on a number of its major oil fields right now. First, it needs the money; second, hitting Continue Reading
Iraqi Prime Minister Mustafa al-Kadhimi has redeployed security forces and replaced senior officials at key border points as part of a high-profile effort to reign in paramilitary groups — including Continue Reading
Ashraf, an Egyptian working in Kuwait, lost all his income as a result of the coronavirus pandemic. The country’s curfew was eased two months ago, but for Ashraf there was Continue Reading
Lebanon had its rating cut to the lowest grade by Moody’s Investors Service, which said that bond investors will likely suffer major losses on their holdings as the government struggles to Continue Reading
Flash floods have ravaged swaths of war-torn Yemen, leaving dozens dead and destroying thousands of homes, security officials and an aid group said Monday. At a time when Yemen is Continue Reading
Clashes between Iraqi protesters and security forces in central Baghdad killed at least two demonstrators overnight, security and medical sources said on Monday. It was the first such deadly incident Continue Reading
