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Shell company building
July 30th, 2026 - 09:20 GMT
P. Choiaqo

P. Choiaqo

Shell records more than double profits as war rages in the Middle East

ALBAWABA - British oil and gas company Shell has seen its profits more than double compared to the same period last year as oil prices surge amid Strait of Hormuz conflict between the U.S. and Iran. The company’s net profit hit $9.84 billion dollars in the second quarter of the year after Brent oil prices jumped from $60 a barrel in January to $114 in early May at the peak ...
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U.S. President Donald Trump is cautious about the effects his sanctions will have on global oil markets. (AFP)
November 7th, 2018 - 07:20 GMT

Triggered by Oil Prices, Trump Changes Rhetoric on Iran Sanctions

Eni said it was not present in Iran and that the overall impact of the waiver granted to Italy was marginal for its business. (Shutterstock)
November 7th, 2018 - 07:16 GMT

Italy's Eni Contemplating Iranian Crude Despite Sanctions

The Amir said the country's exports increased by 18 percent after the blockade. (AFP)
November 7th, 2018 - 07:11 GMT

Qatari Emir Regrets Fallout With Siege Countries

Fully financed by the Abu Dhabi Fund for Development, ADFD, the UAE-CREF is the largest renewable energy initiative of its kind in the Caribbean, representing a partnership between MOFAIC, ADFD, and Masdar, the project manager and implementing lead. (Shutterstock)
November 7th, 2018 - 07:03 GMT

UAE-Caribbean $ 50 Million Renewable Energy Fund Projects Breaks Ground

US will continue to negotiate with India and the seven other countries receiving the six-month exemption to get them to cut their Iranian imports to zero. Since the reimposition of sanctions were announced, India has been cutting back on the Iranian imports. (Shutterstock)
November 7th, 2018 - 06:51 GMT

India Officially Exempt From Iran Sanctions

The line would extend from Haifa, Israel’s largest port, passing through Jordan before connecting with existing railways in the Gulf. (Shutterstock)
November 7th, 2018 - 06:46 GMT

Israel's Railway Proposal to Bolster Its GCC Ties Against Iran Sentiments

The design of the reactor has been developed by KACST scientists with the help of international experts. (SPA)
November 7th, 2018 - 06:40 GMT

Bin Salman Attends Saudi Arabia’s First Nuclear Research Reactor Project Launch

Industry estimates suggest Iran’s oil exports have in fact fallen by 40-60 percent since Trump said in May that he would reimpose sanctions, but 180-day exemptions for Iran’s biggest oil clients could mean they rise again after November. (Shutterstock)
November 7th, 2018 - 06:35 GMT

Iran Oil Exports Fell 60 Percent Since Sanctions, but Officials Deny Such Reports

Lebanon’s Central Bank and commercial banks have constantly updated anti-money laundering and terrorism financing procedures, in line with international standards. (Shutterstock)
November 6th, 2018 - 08:55 GMT

Lebanese Bankers Claim US Sanctions to Have No Effect on Economy

Workers at an onshore Iranian oil facility. (PressTV)
November 6th, 2018 - 08:42 GMT

Iran to Turn to Domestic Resources to Lessen Sanctions Impact

The UAE banks have added 1,116 workers year-to-date with local banks hiring 1,176 while foreign banks shedding 60 workers in the first 9 months of 2018. (Shutterstock)
November 6th, 2018 - 08:16 GMT

These Are the UAE Banks That Are Hiring and Firing

US Actions May Destabilize Oil Market. (Shutterstock)
November 6th, 2018 - 08:12 GMT

Russia Says US Actions Undermine Opec+ Efforts

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