Saudi Cable Co Signs $171m Debt Restructuring

The company is also holding talks with another bank about the possibility of restructuring a further SAR99.6 million of debt.

Oil Prices Hold Steady As Yemen Bombing Continues

Saudi-led coalition warplanes continued bombing Yemen on Wednesday despite an announcement by Riyadh a day earlier that it was ending its campaign of air strikes.

Abu Dhabi’s Masdar City Launches Solar-Powered Eco-Villas

The four-bedroom villa concept includes an array of solar panels that will generate approximately 40,000 KWh per year.

Chevron Saudi Unit Plans To Shut Joint Kuwait Oilfield In May

Chevron’s decision was mainly down to problems getting work permits from the Kuwaiti authorities for its expatriate staff, sources told Reuters

Oil Prices Drop As Middle East Tensions Ease

Oil prices had gained nearly $10 a barrel this month on tensions in the Middle East and concerns over slowing output growth in the United States, before starting to drop back.

Saudi Electricity Co Q1 Net Loss More Than Doubles

It lost 1.94 billion riyals ($517.4 million) during the three months to March 31.

Visiting Venezuelan Delegation To Meet Saudi Deputy Oil Minister -Source

The delegation will meet Prince Abdulaziz because Saudi oil minister Ali al-Naimi is out of the country on a business trip, a source said.

Abu Dhabi To Invest Over $25bn In Offshore Oilfields -ADNOC Official

The plan is part of the UAE’s strategy of increasing its crude oil output potential to 3.5 million barrels per day by 2017-18.

Saudi Aramco Board Visits South Korean Shipbuilder -Sources

Saudi Arabia has been supplying more crude to Asian markets and Saudi Aramco’s shipping arm has tendered to build 5 very large crude carriers (VLCCs).

Oman Electricity Co To Meet Investors For Potential Debut Dollar Bond Issue

The firm chose Bank Muscat and J.P.Morgan to arrange investor meetings for the bonds in the United States and Europe.

Taiwan CPC To Set Up Oil, LNG Trade Units In Dubai, Qatar

The company expects to set up offices by the end of this year.

UAE’s ADNOC Says No Timeframe For Decision On Onshore Concession

Nine firms bid for stakes in the Abu Dhabi Company for Onshore Oil Operations (ADCO) concession which became available after a 40-year deal expired.

Kuwait’s KUFPEC Looking For Acquisitions Globally -CEO

The company is looking in all regions and did not specify a minimum price level below which the acquisitions would become uneconomic.

Saudi’s Tasnee To Cut Costs, Revise Contracts After Swinging To Loss

For the first quarter of 2015, Tasnee posted a net loss of SAR332.5 million ($88.7 million).

Saudi’s Sipchem Q1 Net Profit Up 17.3%, Misses Estimates

Sipchem attributed the increase in quarterly profit to higher production and sales and lower expenses.

Naimi Says Saudi Oil Production Near Record High In April

Naimi said that oil production in Saudi Arabia, the world’s biggest crude exporter, was “around 10 million” bpd in April.

Saudi’s Tasnee Swings To Q1 Net Loss

Tasnee made a net loss of SAR332.5 million ($88.7 million) in the first quarter of 2015.

Industries Qatar Q1 Net Profit Falls 40%

The company reported a net profit of QAR951 million ($261.2 million) in the first quarter of 2015.

Kuwait Says Finds Four New Promising Oilfields -KUNA

The grades found in the fields were both light and heavy oil, with preliminary results showing “huge commercial volumes”, KUNA said.

Saudi’s SABIC Signs Deal To Use U.S. Shale Gas At British Plant

SABIC has previously said scarce gas supplies at home have forced it to look at investment opportunies abroad.

SABIC-Saudi Aramco-PIF Venture May Eventually Go Public

SABIC’s acting CEO Yousef Abdullah al-Benyan said the idea was still at an early stage.

Saudi’s SABIC Q1 Revenues Down 28% Y/Y, Oil Price “Out Of Control”

SABIC CEO Benyan said the fall in oil and petrochemical product prices was “out of control”, but said his company was well placed to deliver returns.

Saudi PetroRabigh Q1 Profit Falls By Half, Blames Lower Margins

The firm made SAR205.4 million in the first quarter of 2015, it said in a bourse statement.

Saudi’s SABIC Q1 Net Profit Falls 39%, Beats Forecasts

SABIC made a net profit of SAR3.93 billion in the first quarter, down from SAR6.44 billion in the year-earlier period.

OPEC+meeting

OPEC Should Consider Return To Oil Quotas-Delegate

A proposal to reintroduce quotas would spark a fierce debate in OPEC as national prestige and market share are at stake.

Oman LNG Looks To Sell Cargo To Asia Via Union Fenosa Gas -Traders

The cargo would be for May delivery, traders said.

Qatar Sells June Al-Shaheen Crude At 10-Month High

The cargoes were sold at 37-40 cents a barrel below Dubai quotes via a tender, averaging at a discount of 39 cents a barrel.

ADNOC To Start Monthly Oil Product Deliveries To Egypt Next Week

The Egyptian government had said state-owned EGPC will buy 65 per cent of its oil product import needs from ADNOC in 2015.

Brent Crude Oil Hits 2015 High As US Output Slows

Brent crude touched a 2015 high of above $63 per barrel on Thursday.

Speculation Over Saudi-India Oil Deal As Talks Drag On

Saudi Aramco and India’s Reliance Industries have not yet concluded a term contract to import diesel and gasoline.