Wednesday, 19 September 2012 19:14
Posted by Asad Naeem
DUBAI/KHOBAR: Development of an offshore gas field by Kuwait and Saudi Arabia has been delayed for months, due to disagreement over where to share out the gas, and the project may not start up on time unless the dispute is settled soon, a senior Kuwaiti energy executive said on Wednesday.
The Dorra gas field, lying close to the shore of the two Gulf OPEC allies, has long been a bone of contention between Kuwait and Iran which also lays claim to part of the field.
While Tehran and Kuwait are yet to agree on their maritime claims, Riyadh and Kuwait stuck a deal in 2000 and have since worked to develop the undisputed part of the field.
The plan had been to share out the gas pumped from Dorra at an offshore facility in the Gulf. But about six months ago Saudi Arabia came up with a new proposal, pressing its tiny neighbour ...
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DUBAI/KHOBAR: Development of an offshore gas field by Kuwait and Saudi Arabia has been delayed for months, due to disagreement over where to share out the gas, and the project may not start up on time unless the dispute is settled soon, a senior Kuwaiti energy executive said on Wednesday.
The Dorra gas field, lying close to the shore of the two Gulf OPEC allies, has long been a bone of contention between Kuwait and Iran which also lays claim to part of the field.
While Tehran and Kuwait are yet to agree on their maritime claims, Riyadh and Kuwait stuck a deal in 2000 and have since worked to develop the undisputed part of the field.
The plan had been to share out the gas pumped from Dorra at an offshore facility in the Gulf. But about six months ago Saudi Arabia came up with a new proposal, pressing its tiny neighbour ...
JOHANNESBURG: South Africa's rand hovered in the 8.20s against the dollar on Monday, unable to build on recent strength in the euro and weakness in the dollar due to continued labour strife in the mining sector.
The unit is likely to have a quiet session on Monday with no data expected until Tuesday.
The rand was at 8.2400 against the dollar at 0650 GMT, a shade weaker than Friday's New York close of 8.21. The rand rose ...
JOHANNESBURG: South African stocks hit a new record high on Friday lifted by the US Federal Reserve's aggressive new stimulus to drive growth, despite the labour unrest in the domestic mining sector.
The blue-chip Top-40 index hit an all-time high of 32,314.56.
The broader All-share index touched a record high of 36,554.09.
Copyright Reuters, 2012 ...
DUBAI: High liquidity in the Saudi Arabian stock market over the summer and Ramadan months, which are traditionally dull trading periods, signal investor interest in the market which could lead prices higher in coming weeks.
Investors traded 307 billion riyals ($82 billion) worth of shares on the Saudi bourse during June-August, a surge of 83 percent from the year-earlier period, according to stock exchange data.
This has extended a trend of active trading for most of this ...
NAIROBI: Kenyan shares hit a 14-month high on Friday as investors shifted back to the stock market following the central bank's hefty interest rate cut this week, while the shilling ended firmer against the dollar.
The main NSE-20 Share Index rose 0.3 percent to 3,899.62 points, a level last touched on July 7, 2011.
"With the CBR rate lower we expect investors to shift back into equities as yields on the debt market that has been very ...
