A financing package for Alufer Mining’s Bel Air bauxite project has come as a welcome boost for a sector overshadowed by the Simandou affair and the aftermath of the 2014 Ebola crisis. Alufer has raised $90m of convertible debt and $35m of equity...
Two major financial bodies have appointed female leaders. Samba Financial Group appointed Rania Mahmoud Nashar as its chief executive officer on 19 February, taking over from Sajjad Razvi who resigned for personal reasons.On 16 February, Sarah Al...
US-based Bechtel has been awarded a contract to help set up and operate the National Project Management Organisation (NPMO), intended to support government agencies in delivering complex infrastructure projects. NPMO’s establishment is seen as a...
Kuwait Investment Authority managing director Bader Al-Saad, in the post since 2003, has resigned, but remains on the KIA board. He will be replaced by Farouk Bastaki, local media reported. KIA has recently considered a switch in its strategy,...
The Kuwaiti authorities are due to hold talks with investors in the United States and United Kingdom in early March, in preparation for a bond issue which could raise up to $9.5bn. A report by Bloomberg, citing an unidentified source, said talks...
Iranian President Hassan Rouhani made an unexpected trip to Oman and Kuwait on 15 February, his first foray to any Gulf Co-operation Council (GCC) state since taking office in 2013. Kuwaiti Emir Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah had visited...
The London Court of International Arbitration has issued another ruling in favour of UAE-based Crescent Petroleum, Dana Gas and Pearl Petroleum Company Ltd (PPCL), in their multi-billion dollar dispute with the Kurdistan Regional Government (KRG...
The Ministry of Energy, Industry and Mineral Resources launched its first requests for qualifications for the National Renewable Energy Programme on 20 February. It marks the start of an ambitious plan to develop 3.45GW of renewable energy by...
National Iranian Oil Company (NIOC) has been forced to deny claims that Tehran has abandoned plans for its much-delayed and much-vaunted Iran Petroleum Contract (IPC). The local Tasnim News Agency reported on 14 February that MP, and member of...
Emir Sheikh Tamim Bin Hamad Al-Thani formally inaugurated the Laffan Refinery 2 project on 20 February, in a ceremony attended by prime minister and minister of interior Sheikh Abdullah Bin Nasser Bin Khalifa Al-Thani and Qatar Petroleum chief...
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