Bloomberg At the biggest oil market in the world, crude from Iran is back in vogue. The Persian Gulf state boosted exports to major oil consumers in Asia during the first half of this year, after international sanctions that restricted its supplies were eased in January. Japan’s purchases increased 28 percent, India bought 63 percent more, South Korea’s imports …

Reuters Iraq is negotiating with Exxon Mobil Corp. and Petrochina Co. to develop two oil fields in the south of the country as it seeks to maintain overall production at about 4.8 million barrels a day for the rest of 2016, Deputy Oil Minister Fayyad Al-Nima said. The companies have submitted offers to develop the Artawi and Nahran Omar fields, …

  TNS Bahrain residents must prepare for a spike in inflation as value-added tax (VAT) gets rolled out, experts have said. GCC states are expected to adopt VAT of up to five per cent from 2018 applying to most goods and services with basic food items, healthcare and education being exempted. The exact date of implementation is not yet known …