February 28, 2021
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Saudi Arabia News

Saudi Arabia to triple VAT among other ‘painful’ austerity measures

May 11, 2020 MEO Staff

Saudi Arabia’s spending cuts come amid a plunge in oil prices, hurting the government’s finances. Saudi Arabia will triple its value added tax rate and suspend a cost-of-living allowance for state employees, the kingdom’s finance [ More … ]

Saudi Arabia News

Riyadh to take ‘strict, painful’ measures to deal with coronavirus impact

May 3, 2020 MEO Staff

Saudi Arabia will take strict and painful measures to deal with the economic impact of the coronavirus pandemic, the finance minister said on Saturday, adding that “all options for dealing with the crisis are open”, [ More … ]

Analysis

U.S. Oil Drops Below 1 cent Per Barrel As Demand Disappears!

April 20, 2020 MEO Staff

Coronavirus lockdowns have destroyed demand for oil but countries continue to produce, overwhelming storage facilities. A key American oil benchmark, West Texas Intermediate, fell by more than 80% on Monday as global oil markets continue [ More … ]

Iran Latest News

Biggest oil price surge since 1991 as US Blames Iran for Attack on Aramco Facilities

September 16, 2019 MEO Staff

An attack on Saudi Arabia that shut 5% of global crude output triggered the biggest surge in oil prices since 1991, after U.S. officials blamed Iran and President Donald Trump said Washington was “locked and [ More … ]

Analysis

Houthis drone attacks in Saudi ‘show new level of sophistication’

May 16, 2019 Ahmed Rashed

Aerial attacks on oil pipeline deep inside Saudi Arabia suggest significant leap in Houthi drone capabilities. Drone attacks on a Saudi oil pipeline west of Riyadh on Tuesday have revealed an apparent significant leap in [ More … ]

Egypt Latest News

Hiking Oil Prices May Threat Egypt’s Savings from Gas Milestone

October 9, 2018 Ahmed Rashed

Another corner of the energy market threatens to deal a new blow to Egypt’s fragile government finances although its milestone of regaining self-sufficiency in natural gas.  A six-fold increase in production at the giant offshore Zohr [ More … ]

Libya Latest News

Attack on Libya’s national oil firm leaves several dead

September 11, 2018 MEO Staff

Two employees of the National Oil Corporation and two attackers reported dead after several blasts heard in Tripoli An assault on the headquarters of Libya’s state oil firm, the National Oil Corporation (NOC), has left [ More … ]

Column

Reduction of Subsidy and Egypt’s Financial Situation

August 9, 2018 MEO Staff

By: Abdel-Hafez Al-Sawi*  Subsidy in Egypt, a thorny issue, is usually addressed in light of government decisions to reduce it, which accordingly leads to raising the prices of goods and services. But subsidy is not [ More … ]

Iran Latest News

Trump: We’ll ban companies who do business with Iran

August 8, 2018 MEO Staff

‘Anyone doing business with Iran will NOT be doing business with the United States,’ US president says Companies doing business with Iran will be barred from the United States, President Donald Trump said on Tuesday, [ More … ]

Iran: Trump administration to review the Nuclear Deal terms
Iran Latest News

Trump warns European companies against business with Iran

July 2, 2018 MEO Staff

Tehran says it has a plan to defeat any US efforts to block its oil exports and issues warning to Saudis US President Donald Trump has lashed out at OPEC, the 15-nation oil cartel, with [ More … ]

Libya Latest News

Libya’s National Oil Company may halt operations at two major terminals

July 1, 2018 MEO Staff

Libyan oil ports likely to shut down, meaning a total reduction of about 800,000 barrels per day Libya’s National Oil Company said on Friday it expected to halt operations at two key export terminals this [ More … ]

Libya Latest News

Battle for Libyan oil ports intensifies as Haftar forces strike back

June 22, 2018 MEO Staff

After a week of fighting, forces loyal to Khalifa Haftar say they have retaken As Sidra oil port and and airstrip at Ras Lanuf East Libyan forces said on Thursday they had rapidly retaken control [ More … ]

Saudi Arabia News

China reportedly offered to buy 5 percent of Saudi Aramco directly

October 17, 2017 MEO Staff

The deal with China, the biggest buyer of Saudi oil, could be worth as much as $100bn, industry sources say China is offering to buy up to 5 percent of Saudi Aramco directly, according to [ More … ]

Iraq Latest News

Iraqi forces take control of Kirkuk governor’s office

October 17, 2017 MEO Staff

Iraqi forces seized the Kirkuk governor’s office – along with key infrastructure – on Monday, as pro-Baghdad troops and militias swooped on the disputed Kurdish-held city. Iraqi forces have entered the Kirkuk and appear set [ More … ]

Column

Column: US dominance over Gulf region

July 7, 2017 MEO Staff

BY: HILAL KAPLAN*  Every crisis and intervention instigated by the U.S.-Israel partnership in our region has been conducted through a chain of lies and manipulation As the Berlin Wall fell and the Cold War was about [ More … ]

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Egypt Latest News
February 24, 2021

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Iran Latest News
February 22, 2021
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