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Saudi Arabia, UAE readying to introduce new VAT system by 2018

According to media reports, all six Gulf Cooperation Council (GCC) countries, including Saudi Arabia, the UAE, Kuwait, Oman, Qatar and Bahrain, have reached a consensus to introduce a five percent VAT on a wide range of...

  • 04.12.2017

Sadara, Gulf Interchem sign MoU to recycle by-product

According to a press release on the company's website, Saudi Arabia's Sadara Chemical Company signed a memorandum of understanding with...

  • 29.11.2017

Oil prices surge on deal between OPEC and non-OPEC members

According to media reports, OPEC and non-OPEC members finally signed an oil cut deal on...

  • 12.12.2016

Oman to participate in GCC VAT in 2018

According to media reports, Oman has been the latest country to confirm its participation in the Gulf Cooperation Council’s new tax project...

  • 22.11.2016

Saudi Kayan announces financial results for Q3

According to media reports, an affiliate of Saudi Basic Industries Corporation (SABIC), Saudi Kayan Petrochemicals reported its financial results for the third quarter of 2016...

  • 19.10.2016

Russia and GCC mull over joint projects in oil, gas fields

Russian Foreign Minister Sergey Lavrov said that they held a meeting with several Gulf Cooperation Council (GCC) countries in Moscow for promoting projects...

  • 27.05.2016

Moody’s cuts credit ratings of Saudi Arabia, Oman and Bahrain

Moody’s Investors Service downgraded the credit ratings of Saudi Arabia, Oman and Bahrain...

  • 17.05.2016

GCC states to borrow up to $390 billion by 2020: Media

According to media reports, the Gulf Cooperation Council (GCC) states are expected to borrow between $285 billion and $390 billion by 2020 in order to...

  • 11.04.2016

S&P cuts credit ratings of five oil producing countries

According to media reports, international rating agency Standard & Poor’s (S&P) cut the credit ratings of...

  • 19.02.2016

Qatar lifts domestic gasoline prices by 30%

According to media sources, Qatar lifted its domestic gasoline prices by around 30% due to...

  • 15.01.2016

IMF sees weaker growth for GCC in 2015 amid lower oil prices

According to media reports, the International Monetary Fund (IMF) has reported that they expect to see modest growth in Gulf Cooperation Council (GCC) countries in 2015. According to the IMF, GCC economies will grow...

  • 22.10.2015

OPEC: Shale gas is not a challenge

Oil prices have dropped to near six-year lows in recent months as a result of a supply glut, which is mostly attributed to a sharp rise in U.S. shale gas production as well as...

  • 10.03.2015

Singapore-GCC free trade agreement comes into effect

A free trade agreement (FTA) between the Gulf Cooperation Council countries and Singapore came into effect as of September 1...

  • 04.09.2013

Egypt may withdraw antidumping case against GCC PP imports

A committee formed by the Egyptian government to investigate allegations of PP dumping from Gulf Cooperation Council (GCC) countries has recommended that the case be withdrawn...

  • 26.12.2012

Bahrain to raise investments in petrochemical production

According to media reports, businesses in Bahrain are investing in expanding production of polymers to meet growing demand in the region...

  • 21.11.2012

Gulf nations’ petchem capacity rises 13.5% in 2011

According to a statement from the Gulf Petrochemicals and Chemicals Association, petrochemical capacity in the six members of the Gulf Cooperation Council (GCC) rose 13.5% to...

  • 20.06.2012

TimeTechnoplast builds packaging project in Malaysia

Time Technoplast (TimeTech) announced that it is setting up a new industrial packaging project in Malaysia...

  • 20.09.2011

Turkish Cabinet approves safeguard measure on PET imports

The Turkish Cabinet has approved the decision to impose safeguard measure on PET imports...

  • 09.09.2011

Crude oil prices remain firm as Libyan turmoil intensifies

Crude oil prices moved higher on Monday as the intensifying conflict in Libya threatens to extend the supply shortage in the country...

  • 22.03.2011

Crude oil prices move back above $100

Crude oil prices exceeded the $100/barrel threshold on Thursday as geopolitical risks in Libya and the Middle East intensified, renewing concerns that turmoil might spread and thereby disrupt supply...

  • 18.03.2011

SABIC to establish holding company for joint ventures

SABIC will establish a holding company to participate in joint ventures producing downstream specialty petrochemicals...

  • 08.03.2011

Bahrain’s Burel Industries to build cracker in Malaysia

Industry sources reported that Bahrain's Burel Industries plans to build a cracker in Malaysia with the support of a group of international equity investors. The 1.5 million tons/year cracker, which has an estimated cost of $2.1 billion, is scheduled to start up by...

  • 21.12.2009

Qatar, India’s GAIL, Reliance to meet for new petchem plant

Industry sources report that Qatar has invited India's state-run gas transmission company GAIL and petrochemicals major Reliance Industries for a meeting with Qatar Petrochemical Co. on setting up a $1.3 billion mega petrochemical plant in Qatar...

  • 20.01.2009

Saudi Arabia to invest $80 billion for more crude

  • 18.06.2008

Dow Chemical to be bought out

  • 10.04.2007

45 record found.
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