ABU DHABI, United Arab Emirates (AA) – Abu Dhabi National Oil Company (Adnoc) and Malaysia’s state-owned oil and gas giant Petronas have signed a historic deal for the exploration and assessment of Abu Dhabi’s first-ever onshore unconventional oil block. UAE President Mohamed bin Zayed Al-Nahyan and Malaysian King Sultan Abdullah Ri’ayat...
ISTANBUL (AA) – Saudi Arabia on Friday extended a $3 billion deposit term it made to Pakistan, the State Bank of Pakistan said in a statement. “The Saudi Fund for Development (SFD) extended the term for the deposit provided by the Kingdom of Saudi Arabia in the amount of 3 billion dollars to the State […]
DHAKA, Bangladesh (AA) – The World Bank has approved a $250 million financing to assist Bangladesh in strengthening its environmental management and encouraging private sector participation in green investment. The 30-year term loan with a five-year grace period will help the Bangladesh Department of Environment strengthen its technical and ad...
ISTANBUL/MADRID (AA) – Oil giant Aramco has discovered two new natural gas fields in the country’s eastern region, Saudi Arabia’s energy minister announced Wednesday. The latest discoveries will make a significant contribution to the country’s energy strategies and will also strengthen the kingdom’s natural gas reserves, stat...
BOGOTA, Colombia (AA) – Venezuelan President Nicolas Maduro has said that licenses and authorizations granted so far by the US to ease sanctions it imposed on Venezuela are “headed in the right direction” but are “not enough.” The easing of the oil embargo by the US government “undoubtedly goes in the right direction, althoug...
MOSCOW (AA) – To create a trilateral “gas union,” Kazakhstan, Russia, and Uzbekistan may first need to form a coordination mechanism, the Kremlin said on Tuesday. This mechanism could be established with “a certain legal entity for cooperation between these three countries, and for infrastructure development, then for f...
ISTANBUL (AA) – A resolution adopted at the meeting of the Standing Committee for Economic and Commercial Cooperation (COMCEC) on Tuesday encouraged the Organization of Islamic Cooperation (OIC) member states to devise strategies to strengthen their economic resilience to future shocks” like that of COVID-19 pandemic. Fuat Oktay, Türkiye...
ISTANBUL (AA) – Türkiye, Indonesia and Malaysia are among the world’s top 20 halal economy exporters, according to the 2022 Annual OIC Halal Economy Report, released by the Organization of Islamic Countries. The report was launched in Istanbul on the sidelines of the four-day 38th meeting of the Standing Committee for Economic and Commer...
KANO, Nigeria (AA) – Nigeria’s president highlighted Monday that the global economic downturn has deeply affected the economies of West African countries and resulted in dire economic hardships for the region’s residents. Muhammadu Buhari was speaking at the opening of the 2022 Second Ordinary Session of the ECOWAS Parliament in Abuja. B...
SOCHI, Russia (AA) – European Union sanctions on Russia will not pose a problem for the financing of Türkiye’s first nuclear plant at Akkuyu, according to the first deputy director-general of the Russian Nuclear Energy Corporation (Rosatom). Kirill Komarov stated at the international nuclear energy conference Atomexpo 2022 in Russi...
