Gulf Stevedoring Contracting Company (GSCCO), part of the Gulftainer group of companies, has entered an agreement with Red Sea Marine Services Company Limited to manage and operate King Fahad Industrial Port in Yanbu (KFIP).
World stock markets surged on Thursday, with the US benchmark S&P 500 hitting a record high, while the 10-year US Treasury yield fell below 2% as investors digested a signal from the Federal Reserve of potential US interest rate cuts
European stocks fell, government bond yields slipped and the Japanese yen firmed on Thursday after the US government hit Chinese telecoms giant Huawei with severe sanctions, further straining Sino-US trade ties.
Opec said on Tuesday that world demand for its oil would be higher than expected this year as supply growth from rivals including US shale producers slows, pointing to a tighter market if the exporter group refrains from raising output. But the Organization of the Petroleum Exporting Countries,
Europe's share markets struggled on Thursday and the dollar and bond yields trimmed overnight gains made after the US Federal Reserve dampened bets that it might be readying its first interest rate cut in years. Oil and metals markets added to the pressure on stocks as traders knocked copper to a 2-1/2 month low
Brazil’s Petroleo Brasileiro (Petrobras) drew appreciation from investors last month for announcing a plan to sell off eight of its refineries in a process the company says could fetch some $15 billion. But analysts and industry experts say that while the divestments will help Petrobras shore up its finances,
Norwegian oil and gas firm Equinor reported on Friday a small fall in quarterly operating profit, beating forecasts, and said its giant Johan Sverdrup oilfield in the North Sea remains on track to start production in November. Earnings before interest and tax (EBIT),
Britain said it was urgently seeking information about the Stena Impero after the tanker, which had been heading to a port in Saudi Arabia, suddenly changed course after passing through the Strait of Hormuz at the mouth of the Gulf.
“The terrorist acts, ordered by the regime in Tehran, and carried out by the Houthis, are tightening the noose around the ongoing political efforts.”