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A cluster of new financing facilities has raised well over $10bn, boosting the GCC’s project finance market

Dubai-based Topaz Engineering has been awarded a $45m engineering, procurement and construction contract from Sharjah-based Gulf Petrochem.

Independent oil exploration company Petrel Resources has held on against the odds to bring the Subba and Luhais fields to development, following a major contractual reorganisation with local joint-venture partner Makman Oil & Gas

There is eager speculation about business prospects in Iraqi Kurdistan once a number of key obstacles – including Baghdad’s refusal to pay IOCs for exporting oil or to recognise contracts they have signed with the KRG – are cleared

Sharjah-based company’s oil and gas exploration deal with Rosneft will focus on the Mena region

Iraq’s Ministry of Transportation is liquidating Iraqi Airways, one of the Middle East’s oldest airlines

Yemen’s efforts to entice IOCs to boost its faltering oil industry are hampered by a deteriorating security situation

RAK-P has announced a Dh29.5m ($8m) profit for 2009 and Dh30.5m for Q1 10. The company made a loss of Dh210.7m in 2008.

Oil output continues to rise after the slump of the last decade, but acreage left open for several years has failed to attract the international interest expected. Meanwhile, IOCs are leaving as the government looks to expensive enhanced oil recovery projects

The civil nuclear plans of GCC and neighbouring states point to a new assertiveness among Gulf economies, whose need to diversify energy sources is greater than the temptation to keep up with regional nuclear leaders Iran and Israel

Qatar is lining up a potential bid for a stake in French nuclear world-beater Areva – which will have to confront French resistance to an Arab government buying into a ‘national champion’ but seems to have the support of President Nicolas Sarkozy and French lobbies that have long cultivated relations with Doha and Abu Dhabi

Post-election challenge to oil contracts unlikely, Second LNG train starts production,

Syria-focused Gulfsands Petroleum has agreed with Australia’s AuDAX Resources to farm into the Chorbane and Kerkouane exploration permits in Tunisia, and another in southern Italy.

Syria-focused Gulfsands Petroleum has agreed with Australia’s AuDAX Resources to farm into the Chorbane and Kerkouane exploration permits in Tunisia, and another in southern Italy.

The withdrawal of a mysterious Middle Eastern investment fund from a joint venture with Kurdistan-focused exploration company Gulf Keystone Petroleum frees it from an awkward partnership. But the affair leaves the Natural Resources Ministry of Kurdistan looking less than open in its approach to licensing exploration blocks