Saudi Kayan Petrochemical Co. reported a net loss of $166.3m in Q4 of 2015, the largest loss Kayan had suffered since it was first listed in 2007.
Oman has announced it will rise gasoline prices as of mid January. The move has been ascribed to the impact of persistently low oil prices.
Gulf News was able to learn that the Sultanate of Oman will cut fuel subsidies beginning next year.
Bahrain more than doubled the prices of beef and chicken, removing meat subsidies to save money as low oil prices squeeze government's revenues
Bloomberg has cited anonymous but well placed sources that Saudi Arabia is working with advisers on a review of the country’s capital spending plans to save money.
Egypt will begin rolling out a smart card system for subsidised fuel from June 15, the head of the firm overseeing the project said, part of plans to reduce costly energy subsidies over time.
Companies will pay more for gas from today (April 1), the National Oil and Gas Authority (Noga) announced yesterday.