Dubai has been home to the world’s best-selling Porsche dealership for a decade, but it’s time on top of the podium might be coming to an end. That’s because Porsche dealers in China are powering through the field, according to the CEO of Dubai’s Porsche dealership..... Read more »
Posted on : 7/16/2015
<p>The world's top crude oil exporter Saudi Arabia has turned itself into a major power of refined fuels, offering customers millions of barrels of diesel and potentially triggering a price war with Asian competitors as its exports feed into a glut.</p>.... Read more »
<p>India’s Bharat Petroleum Corporation Limited (BPCL), a major state-owned refiner, plans to invest around $4 billion to expand a refinery joint venture in India that is partly owned by Oman, a report said.</p>.... Read more »
<p>Dragon Oil's largest shareholder, Emirates National Oil Co Ltd (Enoc), said the oil producer no longer needed to pay a dividend to shareholders, stepping up pressure in its bid to take over the company.</p>.... Read more »
<p>Several government-backed entities in Dubai have signed contracts worth around $20 million to make environmental improvements to their real estate portfolios.</p>.... Read more »
Iran will return to the global oil market with maximum capacity once the sanctions against the country are lifted following Iran's nuclear deal with world powers, a deputy oil minister was quoted as saying on Tuesday. Iran and six major world powers reached a landmark nuclear deal on Tuesday, capping more than a decade of negotiations..... Read more »
Posted on : 7/15/2015
<p>OPEC is predicting a more balanced oil market in 2016, as growth of North American shale slows, according to news site Reuters. </p>.... Read more »
<p>Construction firm Carillion was awarded a contract worth $124m to build an operational base and accommodation complex for BP's Khazzan gas project. </p>.... Read more »
<p>Zawawi Trading Company (ZTC) Automotive and Oman Building and Contracting Company (OBCC) agreed upon a long-term deal following the delivery of a fleet comprising 20 Mercedes-Benz Actros heavy duty trucks.</p>.... Read more »
<p>Hotel construction in the Middle East and Africa (MEA) region rose by 44.3% in June 2015 compared to figures for June 2014, with 96,162 rooms in 366 hotels under construction during the month. </p>.... Read more »