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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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The price of oil in the global market is highly expected to remain within the range of $70 to 75 per barrel until the end of the year. (Shutterstock)
August 10th, 2018 - 07:00 GMT

Kuwait Predicts Stagnant Oil Price Until Year End

UAE, Poland to Strengthen Economic Ties. (Shutterstock)
August 10th, 2018 - 06:00 GMT

UAE, Poland to Strengthen Economic Ties

Samples of food products are transferred to labs to ensure they are safe. (Shutterstock)
August 9th, 2018 - 11:24 GMT

Temporary Ban on East Malaysian Poultry Meat, Eggs in UAE

12 percent of the positions are occupied by expatriates. (AFP)
August 9th, 2018 - 11:18 GMT

Expats Serve 12 Percent Only in Law-Linked Jobs in Kuwait Due to Kuwaitization

Esra Sultan is set to provide three months of “free” electricity, though the conditions of its stay remain uncertain. (The Daily Star/Mohammad Azakir)
August 9th, 2018 - 10:20 GMT

Turkish Power Barge Starts Producing Electricity in Lebanon

Oman’s oil exports during July reached 24.08mn barrels, with daily average exports of 776,800 barrels. (Shutterstock)
August 9th, 2018 - 09:19 GMT

Oil Production in Oman Surpasses 30 Million Barrels in July

Turkey's natural gas trade with Iran is legitimate and in accordance with a signed contract with an expiry in 2026. (Shutterstock)
August 9th, 2018 - 09:09 GMT

Turkey, Iran Gas Trade to Continue Until 2026

There has been no response from the Canadian government as yet to the latest punitive measures taken by the Saudis. (Shutterstock)
August 9th, 2018 - 09:02 GMT

Saudi Arabia Gets Rid of Canadian Assets

445,000 Egyptians work in the Kuwaiti private sector. (AFP)
August 9th, 2018 - 08:52 GMT

More Than 60 Percent of Egyptians in Kuwait Work in Private Sector

The IMF encourages Egypt to continue its plan to raise energy prices. (Shutterstock)
August 9th, 2018 - 08:43 GMT

IMF: Egypt's Economy to Improve in 2021

Iran will stand firm against threats by the US over oil shipments. (Shutterstock)
August 9th, 2018 - 08:35 GMT

Iran to Continue Oil Exports Regardless of US Threats

Saudi citizens will be able to access cheaper and more accessible mortgages at fixed rates under an initiative launched Wednesday by the Saudi Real Estate Refinance Company. (Shutterstock)
August 9th, 2018 - 08:28 GMT

Accessible Mortgages to Stimulate Property Ownership in Saudi Arabia

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