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- Aramco CEO among business leaders urged by China's Xi to protect trade as Trump tariffs loom
- Oil Updates - crude set to rise for 3rd week on Venezuela, Iran pressure
- M&A deals in Saudi Arabia rise in sign of foreign investor confidence: Marsh
- Saudi maritime industry spurring global trade shift
- Saudi Crown Prince issues directives to curb rising land prices and rents in Riyadh
- Closing Bell: Saudi main index closes in green at 12,025
- Saudi Arabia's job market strengthens as unemployment falls to 7% in Q4 2024
- UAE unveils new dirham symbol and digital currency
- Oil Updates - crude holds near 1-month high, set for 3rd week of gains amid supply woes
- Qatar Islamic Insurance Group AGM proposes cash dividend of 50% of paid-up capital
27/06/2009 00:00 AST
U.S. oil company Occidental Petroleum Corp and Canadian Natural Resources have submitted bids for Bahrains deep gas exploration project, the Gulf states top oil official said on Thursday.
Abdul-Hussain bin Ali Mirza, head of Bahrains National Oil and Gas Authority (NOGA), told news agency Reuters the bids of the two companies were opened on Thursday and would be reviewed by NOGA and Bahrain Petroleum Co.
The deal will be awarded by the end of the year, he said.
The Gulf island state wants to develop onshore natural gas fields at a depth of up to 6,096 metres below sea level to meet rising domestic demand.
The country consumed 1.3 billion cubic feet of gas per day in 2007 and expects consumption to rise to 2 billion cubic feet per day in about 10 years.
It has also held talks with Gulf neighbours Qatar and Iran about importing 1 billion cubic feet per day.
Reuters
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30/03/2025
Mergers and acquisitions in Saudi Arabia recorded a 55 percent annual rise in 2024 as deal value hit $9.6 billion, fueled by foreign investors and key sector activity.
According to Marsh's T
Arab News
30/03/2025
Saudi Arabia's investment in its maritime sector could see a shift in global trade logistics that helps reduce reliance on traditional routes, leading industry figures have told Arab News.
W
Arab News
30/03/2025
In response to the rising land prices and rental costs in Riyadh, Crown Prince Mohammed bin Salman on Saturday directed a series of measures aimed at achieving stability in the real estate sector, th
Arab News
28/03/2025
Saudi Arabia's unemployment rate for nationals in the fourth quarter of 2024 reached 7 percent, marking a decrease of 0.8 percentage points compared to both the previous quarter and the same period l
Arab News
28/03/2025
The Central Bank of the UAE on Thursday introduced a new symbol for the nation's currency, both in its physical and digital forms, marking a significant step in reinforcing the UAE's status as a lead
Arab News
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