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Turkey plans first overseas deepwater energy exploration in Somali waters
January 2nd, 2026 - 05:09 GMT
Osama Ali

Osama Ali

Turkey plans first overseas deepwater energy exploration in Somali waters

ALBAWABA - Turkey is set to embark on its inaugural overseas deepwater energy exploration, with a drilling vessel slated for deployment in Somali waters next month, as revealed by Turkish Energy Minister Alparslan Bayraktar. Bayraktar announced that the drilling ship Cagri Bey will head to Somalia in February to commence offshore exploration. The operation will concentrate on maritime zones along the Somali coast, though specifics regarding potential reserves or the ...
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Boeing was pipped by European rival Airbus who signed a preliminary agreement in January to sell Iran 118 aircraft valued at $27 billion. (Wikimedia Commons)
June 19th, 2016 - 04:23 GMT

Financing issues present the last hurdle in Iran's 'historic' Boeing deal

A US found that integrating solar power into the grid is complex because, utility system operators would need to favor one source of supply over the other to maintain market balance. (Shutterstock)
June 16th, 2016 - 01:03 GMT

Renewable energy costs could drop by up to 59 percent in five years: IRENA

The plan envisages increasing the country’s refining capacity to about 3.2 million barrels a day by 2020 from 1.85 million currently. (Ship and Bunker)
June 16th, 2016 - 01:00 GMT

Iran plans to boost refinery capacity by more than 70 percent in four years

Last April, Saudi Arabia and the United States had added a number of organizations on their lists of terrorist groups. (File photo)
June 16th, 2016 - 12:30 GMT

Saudi Arabia tightens bank transfer procedures to Lebanon to prevent Hezbollah funding

Egypt's Central Bank has sought to crack down on the black market, revoking the licenses of exchange bureaus found dealing far beyond the official rate. (AFP/Khaled Desouki)
June 16th, 2016 - 11:43 GMT

Egypt's black market currency traders take their business abroad

Muscat Finance has achieved a net profit of OMR1.21 million for the first quarter of 2016, against OMR1.26 million for the same period of last year. (File photo)
June 16th, 2016 - 10:30 GMT

Muscat Finance plans $13M bond issue

The AC-208 is based off ATK's Cessna 208 Caravan aircraft. It provides intelligence, surveillance and reconnaissance capabilities and can be armed with Hellfire missiles. (Wikimedia Commons)
June 16th, 2016 - 08:30 GMT

Iraq: US green lights proposed $181M aircraft maintenance deal

The Facilitation Agreement is one of the most important agreements of the multilateral trade system of the WTO and the first to be added after 18 years of the establishment of WTO. (Flickr)
June 16th, 2016 - 07:30 GMT

Saudi Arabia becomes second Arab country to ratify WTO Trade Facilitation Agreement

Technological advances and consumer preferences over the years has drastically reduced demand for luxury Egyptian cotton. (Shutterstock)
June 16th, 2016 - 05:41 GMT

Egyptian cotton industry crippled by cut subsidies, falling demand

With markets already balancing on the back of modest global economic growth, the price for crude oil last week topped $50 per barrel for the first time in nearly a year. (File photo)
June 16th, 2016 - 04:37 GMT

Brexit fears, Goldman Sachs report drive oil prices below $50

Microsoft will benefit from LinkedIn’s ‘Sponsored Content’ space by enhancing its business to business marketing offering. (File photo)
June 15th, 2016 - 01:00 GMT

Microsoft's LinkedIn acquisition creates new opportunities in the Middle East

Commerzbank declined to comment on the Der Semit's account due to data protection and bank secrecy laws.  (Opednews.com)
June 15th, 2016 - 12:00 GMT

Germany's Commerzbank shuts anti-BDS account in landmark move

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