Regional News

KUWAIT / Reuters All signs suggest that a meeting of OPEC and non-OPEC oil producing countries in Doha on April 17 will produce an initial agreement to freeze output, Kuwait’s OPEC governor Nawal Al-Fuzaia said on Tuesday. Fuzaia, giving a speech at the oil ministry, also said she expected the oil market to achieve a balance between supply and demand …

CAIRO / Reuters Saudi businessmen are investing $4 billion in projects including the Suez Canal, energy and agriculture, and have already deposited 10 percent of that sum in Egyptian banks, the deputy head of the Saudi-Egyptian Business Council told Reuters, two days before Saudi Arabia’s King Salman visits Cairo. Egypt has been struggling to attract foreign investors since an uprising …

REUTERS Kuwait’s Jazeera Airways said on its major shareholder had no current plans to divest its stake in the airline. The carrier was responding to press reports that Boodai Corporation, an investment holding conglomerate, hired HSBC Bank Middle East Limited to advise it on a possible stake sale. Sources had confirmed this to Reuters early last week. Jazeera Airways’ major …

Bloomberg Saudi Arabian Oil Co. is pressing ahead with an expansion of the Khurais oil field despite lower crude prices and plans to double its production of natural gas over the next 10 years, the company’s chief executive officer said. The world’s biggest oil exporter, known as Saudi Aramco, won’t cancel any oil, gas or refining projects, Amin Nasser told …

Emirates Business As upstream oil and gas companies scrutinize every dollar invested, they’re spending smarter today on digital technologies, seeking to drive value and reduce costs amid low oil and gas prices, a new survey by Accenture (NYSE: ACN) and Microsoft Corp. (NASDAQ: MSFT) reports. Respondents to the ‘2016 Upstream Oil and Gas Digital Trends Survey’ included international oil companies …