Dubai / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority, RTA, announced that the RTA would open next Friday the widening of the Sheikh Mohammed bin Zayed Road Project. Accordingly, the number of lanes will double from three to six lanes in each direction along this 7 km-long sector extending …

KUWAIT / WAM Kuwait’s oil price rose USD 2.2 per barrel to USD 27.72 per barrel on Thursday against USD 25.52 per barrel on Wednesday, Kuwait Petroleum Corporation, KPC, said on Friday. According to Kuwait News Agency, KUNA, contracts of the Brent Blend, for the nearest delivery, fell 34 cents to USD33.94 pb, while the American crude contracts dropped 29 …

ABU DHABI / WAM The International Petroleum Investment Company (IPIC), wholly owned by the Government of Abu Dhabi, has welcomed the new strategy announced by the Austrian’s OMV, an integrated international oil and gas company. Murtadha al-Hashemi, Chief Financial Officer, IPIC, and board member of the OMV, said that with the decline in oil prices, OMV faces difficulties, adding that …