Month: August 2016

Tasnee gets Cristal refinancing

Saudi Arabia’s National Industrialisation Company (NIC-Tasnee) has agreed terms for the refinancing of about $1.6 billion of loans to its Cristal titanium dioxide unit in Yanbu, Bloomberg reported today. They include a maturity of three-five years and interest at 2.75…

Uber suspends Abu Dhabi services

Uber said on Sunday that it had suspended services in Abu Dhabi due to “unforeseen circumstances.” Observers suggest that the company is facing potential difficulties with local regulators. Uber has operated in the UAE since 2013. Dubai-based Careem said in a statement…

Iran rejects output cuts

Iran’s Minister of Petroleum Bijan Zanganeh Iran has repeated its assertion that it’s unwilling to accept production cuts so long as its market share remains below where it was before the embargo imposed by most importers on Iranian oil in…

Saudi Arabia dismisses output cut call

  Energy Minister Al-Falih says oil market intervention is unnecessary Saudi Arabian Energy Minister Khalid Al-Falih has effectively ruled out the possibility that major oil producers will agree a production cut next month, Reuters reported on 25 August. “We don’t believe…