Oil prices have plummeted by more than 30 percent since the start of the year but for producers the worst may be yet to come, warn experts, as the coronavirus epidemic weighs heavily on demand.
The OPEC cartel of oil-producing countries and its allies failed to reach a deal on production cuts Friday, after Moscow refused to tighten supply to counter the effects of the outbreak, sending oil prices tumbling.
OPEC nations -- led by the world’s third-largest oil producer Saudi Arabia -- had agreed the day before"...

Manama, Mar. 8 (BNA): In consultation with international partners and the Kingdom's national health Taskforce, Bahrain has made the decision to hold this year’s Bahrain Grand Prix as a participants-only event, Bahrain International Circuit (BIC) has said.

'As an F1 host nation, balancing the welfare of supporters and race goers is a tremendous responsibility."...

Bahrain may transfer some of its oil and natural gas assets into a proposed state-run fund in which it could sell shares to investors, a Bloomberg report said.

The government is working on the project and may decide to proceed with it later this year, Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa said in an interview. It’s still deciding which assets to put"...

Manama, Mar. 2 (BNA): Minister of Electricity and Water Affairs Eng. Wael bin Nasser Al Mubarak reviewed future projects of the Electricity and Water Authority (EWA) with Representatives Council members Dr. Hesham Ahmed Al Ashiri and Ammar Hussain Al Abbas. He also spotlighted the authority’s recent achievements in providing electricity and water services.

The"...

Bahrain may transfer some of its oil and natural gas assets into a proposed state-run fund in which it could sell shares to investors, as the smallest Gulf Arab country seeks to balance its budget.

The government is working on the project and may decide to proceed with it later this year, Oil Minister Mohammed bin Khalifa Al Khalifa said in an interview. It’s still deciding which assets to put into the proposed fund and how to value them,"...

Manama, Feb. 29 (BNA): President of the Sustainable Energy Authority (SEA), Dr. Abdulhussain bin Ali Mirza, received the Chairman of the Board of Directors of the Labour Fund (Tamkeen), Shaikh Mohammed bin Isa Al Khalifa.

The two sides discussed areas of the on-going cooperation between SEA and Tamkeen.

"...

AG&P, the global downstream gas and LNG logistics company, has broken ground on its LNG Import Facility at Karaikal Port, Puducherry, paving the way to broader access to natural gas as a primary fuel in South India. The Karaikal LNG Import Facility (“Karaikal LNG”) is expected to commence commercial operations by Q4 2021.

Owned and operated by AG&P, Karaikal LNG Import Facility is being built on a 12-hectare site within the Karaikal"...

(AETOS Wire)-- Power management company Eaton (NYSE:ETN) and Abunayyan Holding today announced the formation of a joint venture to produce and service low- and medium-voltage switchgear in the Middle East. The joint venture will do business as Eaton Arabia and will have locations in Dammam, Saudi Arabia, and Dubai, United Arab Emirates.

“We are pleased to form this new joint venture with Abunayyan,”"...

(AETOS Wire)-- Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87), one of the largest blockchain solutions and datacenter providers in the world and Canaan Inc, (Nasdaq: CAN, US ISIN: US1347481020) one of the leading blockchain technology companies in the world are happy to announce the beginning of close cooperation in the areas of Artificial Intelligence (AI) development, Blockchain Technology and Datacenter operations.

Combining"...

(AETOS Wire)-- Rockwell Automation, Inc. (NYSE: ROK) today announced it has signed an agreement to acquire Italy-based ASEM, S.p.A., a leading provider of digital automation technologies. ASEM provides a complete range of Industrial PCs (IPCs), Human-Machine Interface (HMI) hardware and software, remote access capabilities, and secure Industrial IoT gateway solutions.

ASEM’s high-performance automation"...