BAGHDAD / Reuters Iraq on Monday invited foreign companies to bid for contracts to explore and develop oil and natural gas reserves in nine new blocks as the OPEC nation seeks to boost its output capacity. “We invite all international companies to participate,” Oil Minister Jabar al-Luaibi told a news conference in Baghdad. “This new exploration bidding round aims to …

DHAHRAN / Reuters More petrochemical projects will follow after Saudi Aramco agreed to join a $20 billion venture to convert crude oil to chemicals, the state oil company’s chief executive told Reuters. Aramco and Saudi Basic Industries Corp (SABIC) signed a preliminary deal to build a petrochemicals complex with start-up seen in 2025. Aramco has been looking to develop its …

Bloomberg Gulf Energy Development Pcl’s billionaire founder Sarath Ratanavadi plans 150 billion baht ($4.6 billion) of investment in power plants over the next four years after the company’s listing this month. The initial public offering’s proceeds will help fund some of the outlay, with the rest coming from loans, Sarath, the company’s chief executive officer, said in an interview in …