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Oil & Gas

Libyan protesters call for the resignation of three ministers as they demand that the Prime Minister resign

On Friday, hundreds of Libyan demonstrators called for the removal of Abdulhamid Dbeibah as the internationally recognized prime minister. At least three ministers also resigned to show their support. Demonstrators gathered on Martyrs' Square, Tripoli. They chanted slogans like "The nation wants the topple of the government" or "We want elections." The protesters then marched on to the main building of the government in the center of the city. One protester declared, "We will not leave until he leaves." The marchers carried photos of Dbeibah, National Security Advisor Ibrahim Dbeibah and interior minister Emad Tarbulsi in which their faces were...

Oil & Gas

Residents of Libya's capital are trapped in the most intense fighting they have seen for years

Witnesses in Tripoli said that the most intense clashes since years continued through Wednesday morning after Monday's death of a key militia leader sparked fighting between rival groups. The United Nations Libya Mission UNSMIL expressed its "deep alarm" at the violence escalating in Tripoli's densely populated areas and called for an immediate ceasefire. The latest unrests in Libya's capital follow battles that seemed to consolidate Abdulhamid al-Dbeibah's power as prime minister of the divided government of National Unity (GNU), and an ally of Turkey. Any prolonged fighting in Tripoli could attract factions outside of the capital. This could lead to...

Oil & Gas

Libyan capital is rocked by the most intense fighting in years

Witnesses in Tripoli said that the most intense clashes since years continued through Wednesday morning after Monday's death of a key militia leader sparked fighting between rival groups. The United Nations Libya Mission UNSMIL expressed its "deep alarm" at the violence escalating in Tripoli's densely populated areas and called for an immediate ceasefire. The latest unrests in Libya's capital may consolidate Abdulhamid al-Dbeibah's power. He is the prime minister of the divided Government of National Unity of Libya (GNU), and an ally of Turkey. Libya has seen little stability since an uprising in 2011 backed by NATO ousted Muammar Gadaffi,...

Oil & Gas

Gulf Stock Markets extend gains following US-China Trade Agreement

The Gulf stock markets were up early Monday morning, buoyed both by the rising oil price and progress in U.S. China trade negotiations. This was a positive sign as U.S. president Donald Trump prepared to visit this region. On Monday, the United States and China announced that they had reached an agreement to reduce reciprocal tariffs in order to end their trade war which has caused global economic disruption and shaken financial markets. A fragile ceasefire between India and Pakistan also seemed to ease geopolitical tensions. In the meantime, Ukrainian President Volodymyr Zelenskiy declared his willingness to meet Russian president...

Oil & Gas

Port Sudan shook by explosions, army claims to have intercepted drones

Sudan's army claimed that its anti-aircraft system intercepted drones on Wednesday, which were targeting the largest naval base of the country in Port Sudan, the country's wartime capital. There were explosions heard in the city. It was not immediately known if they were near Flamingo's base. Port Sudan was the target of days of attacks, including drone strikes reported by Sudan's paramilitary Rapid Support Forces. These assaults have destroyed the country's largest fuel depots as well as its main humanitarian aid gateway. Port Sudan has enjoyed relative peace since the outbreak of the civil war in April 2023 between the...

Oil & Gas

World court dismisses Sudan's genocide case against UAE over alleged Darfur interference

The International Court of Justice dismissed Sudan's claim that the United Arab Emirates were fueling genocide by supplying arms to paramilitary groups in Darfur, saying they lacked jurisdiction. Sudan complained to the U.N.'s highest court that the UAE violated the Genocide Convention in Darfur by supporting paramilitary groups, but the UAE said it should be dismissed. The court agreed with the UAE arguments on Monday, rejected Sudan's demand for emergency measures, and ordered that the case be removed. A summary of the ruling stated that due to the lack jurisdiction, "the court's statute prohibits it from taking any positions on...

Oil & Gas

IMF lowers its 2025 Middle East and North Africa growth forecast by 2.6% due to global risks

The International Monetary Fund announced on Thursday that it expects the Middle East and North Africa economy to grow only 2.6% by 2025, as uncertainty stemming a trade war in the world and lower oil prices are weighing on this region. The new projection was a significant downgrade from the October projection, which predicted 4% growth. This comes at a time when the region is grappling with geopolitical tensions and a softer external market. In an interview, Jihad Azour said, "Uncertainty can impact real economy, consumption and investment... All these elements have led to a softerening of projections." The direct...

Oil & Gas

Sudan tells World Court UAE fuels Darfur genocide

Sudan informed the International Court of Justice that the United Arab Emirates violated the Genocide Convention on Thursday by supporting paramilitary groups in Darfur. The UAE, however, argued that the case should not be heard as the court lacks jurisdiction. Sudan requested that the judges issue an emergency order to prevent the attacks of the paramilitary Rapid Support Forces (RSF) and other Arab militias in West Darfur in 2023, which were documented by. The United Arab Emirates are complicit in the genocide of the Masalit, according to Sudan's acting Justice Minister, Muawia osman. The UAE have repeatedly dismissed Sudan's case...

Oil & Gas

Asian stocks are up, and so are major Gulf markets.

The major Gulf stock markets rose early on Tuesday following gains in Asian stocks, recovering from a global selling off on hopes that the United States would be willing to negotiate its high import tariffs. Saudi Arabia's benchmark Index advanced 2% on track to extend gains made in the previous session. This was led by Al Rajhi Bank's 2.3% increase and Saudi National Bank's 2.1% rise. Saudi Aramco, the oil giant, rose by 1.2%. The Saudi index fell 6.8% on Sunday, its largest one-day drop since the beginning of the COVID-19 Pandemic in 2020. A survey revealed that the non-oil...

Oil & Gas

The Trump tariffs have caused a drop in the price of Bourses in the Gulf

The Gulf stock markets fell on Thursday morning, amid concerns that the U.S.'s reciprocal tariffs could worsen trade tensions globally and tip the world towards recession. On Wednesday, U.S. president Donald Trump announced a 10% tariff as a baseline on all imports and increased duties on dozens countries, including its largest trading partners. Saudi Arabia's benchmark stock index fell by 0.4% after the return to trading following a four-session Eid holiday. Saudi National Bank, the country's largest lender, fell 1.5%. Saudi Aramco, the oil giant in Saudi Arabia was down by 0.8%. Oil prices, which are a major factor in...

Oil & Gas

Sudan army chief vows to punish RSF and extends control of capital

In a video message released on Saturday, Sudanese Army Chief Abdel Fattah al-Burhan said that he would crush the paramilitary Rapid Support Forces. He reaffirmed the commitment of the military to restore national unity and stability. Burhan said that fighters who "repent of the truth" and lay down their weapons, especially those in rebel-held regions, could still receive amnesty if they do so. On Saturday morning, the army announced that it had taken over a large market in Khartoum’s twin city, Omdurman. The RSF had used the market to launch attacks against civilians during the devastating war of two years...

Oil & Gas

Investors in the Gulf are gaining as they wait for US tariff clarity

Investors are waiting for clarity about U.S. president Donald Trump's policy on trade ahead of the looming tariffs. Trump's recent comments have given traders hope that trade policies can be flexible. He hinted on Monday that not all tariffs will kick in until April 2, and that certain countries may receive exemptions. However, he did not provide any details. Trump escalated his trade conflict by introducing secondary tariffs of 25% on countries who buy oil or natural gas from Venezuela. The move caused oil prices to rise initially, but its impact was mitigated later by the relief brought about by...

Fossil Fuels

Fossil Fuels

Gulf markets dull as global stock rally loses momentum

The majority of Gulf stocks were flat on Thursday morning, with oil prices falling and Asian stock markets declining after the initial excitement from eased trade tensions started to fade. Investors waited for more signals. Brent crude futures fell more than 2% and U.S. Crude also dropped. The global stock market had earlier in the week rejoiced over the truce between the U.S. and China trade war. However, the rally was lost as investors took a pause to assess the situation and its impact on the economy. Dubai's main stock index was the sole market in the region to choose...

Fossil Fuels

Gulf stocks fall as excess oil worries weigh

On Wednesday, most Gulf stocks were down slightly as a drop in oil prices due to fears of increased supplies hurt sentiment. Investors also paused for thought about the economic implications of the U.S. China tariff truce. The price of oil, a major factor in the Gulf financial markets, fell on Wednesday as traders awaited a possible increase in U.S. crude stocks. Prices remained near their two-week highs, however, as traders waited for a possible increase in U.S. crude inventories. The U.S.-China Trade War may have stopped, but the financial markets are still uneasy. Israel warned Wednesday that three ports...

Refined Products

OPEC's April oil production is lower despite plans to increase, survey finds

A survey shows that OPEC's oil production fell in April despite a planned increase in output. This was due to a reduction in Venezuelan supplies in response to renewed U.S. efforts to reduce the flow of oil and smaller drops in Iraq, Libya, and Libya. According to a survey released on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) produced 26.60 millions barrels of oil per day in March, a decrease of 30,000 barrels per days from the total for the month of March. This was due to a reduction by some producers, which was offset by an increase...

Crude Oil

Mining

Mineral Resources

Heidelberg Materials' Q1 results beat expectations due to strong Africa business

Heidelberg Materials, the second largest cement manufacturer in the world, reported sales and profits that exceeded expectations for its first quarter. The company also confirmed its outlook citing strong growth across Africa. The first-quarter results from current operations of the company rose 1.3%, to 235 millions euros ($266million), exceeding the average polled forecast by the group. Dominik Von Achten, CEO of the company, said that despite the political and economic uncertainty as well as the difficult weather conditions in certain regions, the 2025 financial period started off very positively. Holcim, a larger competitor, cited a strong North African business as...

Mining

The Gulf countries benefit from higher oil prices before Fed policy

The major Gulf stock markets rose early on Tuesday as a result of a rise in oil prices. Investors were also awaiting the Federal Reserve's meeting to discuss monetary policy. Oil, a key financial market catalyst in the Gulf, gained over $1 per barrel on technical factors, and after bargain hunters reacted to OPEC+'s decision to increase output, which had sent prices lower the previous session. However, concerns remained about the outlook for a surplus of oil on the market. Saudi Arabia's benchmark stock index rose 0.3%. This was boosted by the 0.7% increase in Saudi Arabian Mining Company, and...

Mining

Gains for major Gulf markets on the back of positive earnings and easing tariff concerns

The major stock markets in the Gulf region rose in early trading on Tuesday. This was largely due to positive corporate earnings and the easing of trade tensions with the U.S. Officials said that the U.S. will take steps to reduce the impact on domestically produced cars of foreign parts, and prevent tariffs on imported cars from piling up. Businesses that were notified say China has exempted certain U.S. imports of its 125% tariffs, and asked firms to identify the critical goods for which they require levy-free treatment. This is the clearest indication yet that Beijing is worried about the...

Mineral Resources

Tariffs weigh on major Gulf markets, causing them to decline

Investors were concerned about the uncertainty surrounding U.S. trade policies and a possible economic slowdown. Traders await signs of progress in negotiations between the administration of U.S. president Donald Trump and its trading partners. This includes ongoing trade discussions with Japan. The biggest concern is the direction of any possible discussions with China. Saudi Arabia's benchmark Index fell 0.5%. This was due to a fall of 1.5% in ACWA Power Company, and a drop of 1.3% in Saudi Arabian Mining Company. Investors also absorbed comments made by Federal Reserve chair Jerome Powell who warned about the risks of slowing down...

Mineral Resources

The Gulf's major markets are on track to extend their gains

The major stock markets of the Gulf gained ground in the early trading on Wednesday. This was after recent losses caused by global trade wars and economic concerns. Trump increased duties on Chinese imports by 104%, accusing Beijing of manipulating yuan in order to offset the levies. But caution won out. China did not bow down to this blackmail and vowed to "fight until the end". Trump's tariffs on specific countries and products have been in effect since 0401 GMT. Saudi Arabia's benchmark Index gained 0.4%. Saudi Arabian Mining Company Ma'aden rose 2.2%. Ma'aden may choose at least one foreign...

Mining

UN Rights Chief warns of "mass deaths due to famine" in Sudan

On Thursday, the U.N. Human Rights chief warned against the danger of a further escalation in the war in Sudan and stated that the threat of widespread deaths due to starvation was growing. Volker Turk issued his warning a day after U.N. World Food Programme temporarily halted the distribution of food aid to a camp for displaced persons in Sudan's North Darfur, which is suffering from famine. He told the Human Rights Council at Geneva that Sudan was a "powder keg" on the brink of chaos and at increased risk of mass death from famine and atrocity crimes. "The risk...

Mining

Former NJ Senator Menendez loses quote for new trial, deals with sentencing next week

Previous New Jersey Senator Bob Menendez on Wednesday lost a bid for a new trial, after arguing his recent corruption conviction ought to be thrown out due to the fact that jurors were enabled to evaluate improper proof throughout considerations. U.S. District Judge Sidney Stein's decision leads the way for Menendez's sentencing next Wednesday. The U.S. Attorney's. office in Manhattan says the Democratic previous chair of the. Senate Committee on Foreign Relations ought to invest 15 years in. jail. Prosecutors admitted in November that jurors examined nine. pieces of evidence containing material that should have been. redacted, but stated the...

Mineral Resources

Most Gulf markets increase ahead of US financial data

Most major stock exchange in the Gulf increased in early trade on Tuesday as financiers sought assistance on the Federal Reserve's future rates of interest decisions, expecting the release of minutes from its most current conference and upcoming payrolls data. The week is filled with information releases particularly from the United States, which will be headlined by the December non-farm payrolls report on Friday. Minutes of the Fed's newest conference due on Wednesday will offer colour on their dot-plot predictions, while there will be plenty of live comment with numerous leading policymakers. Fed decisions have a substantial impact on the...

Mining

How huge fossil-fuel-producing countries export emissions abroad

Black dust coats streets and gathers on rooftops in the area adjoining a vast cement factory in the Egyptian city of Alexandria. Activists and regional citizens accuse the plant run by the Alexandria Portland Cement Business (APCC), a subsidiary of Greece's Titan Cement, of fouling the air by burning coal. Every night, we see particles falling from their chimneys. Under street lights, you can plainly see the dust drizzling down, stated Mostafa Mahmoud, a supermarket owner in the Wadi al-Qamar area. Reuters could not individually confirm the assertion. Titan Cement says the plant's emissions are within legal limits, and it...

Mineral Resources

The majority of Gulf markets fall as OPEC+ hold-ups oil output walking

Many significant stock markets in the Gulf fell in early trade on Monday, following a decision by OPEC+ to delay a planned December oil output boost by one month. Eight members of OPEC+, which groups the Company of the Petroleum Exporting Countries plus Russia and other allies, were due to raise output in December as part of a plan to slowly loosen up the group's newest layer of output curbs - a cut of 2.2 million barrels each day (bpd). OPEC and Saudi Arabia have consistently stated they do not target a particular cost and make choices based on market...

Mining

Saudi Arabia's Hassana eyes investment in Brookfield Middle East fund

Hassana, the investment arm of Saudi Arabia's primary pension fund, is considering ending up being an anchor financier in Brookfield's new $2 billion Middle East fund, it stated on Thursday. That would bring Hassana on board with the kingdom's PIF sovereign wealth fund, which revealed on Wednesday that it had entered a non-binding contract to become an anchor investor in the Brookfield Middle East Partners fund. Hassana might assign approximately $500 million to the fund, in addition to Brookfield's own $500 million dedication, the statement said. PIF had actually not disclosed the size of its capacity support. The Brookfield fund...

Mineral Resources

Major Gulf markets get on Israel-Hezbollah ceasefire hopes

The majority of major stock exchange in the Gulf increased in early trade on Thursday, buoyed by wish for a potential ceasefire offer in between Israel and Hezbollah. Lebanon's prime minister revealed hope on Wednesday that a. ceasefire handle Israel would be announced within days as. Israel's public broadcaster published what it said was a draft. arrangement offering a preliminary 60-day truce. The push for a ceasefire for Lebanon is taking place. alongside a similar diplomatic drive to end hostilities in Gaza. Saudi Arabia's benchmark stock index acquired 0.2%,. with ACWA Power Company advancing 3.9% and aluminium. products maker Al...