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Ethiopia, Morocco’s OCP Ink Fertilizer Project Agreement

Ethiopia, Morocco’s OCP Ink Fertilizer Project Agreement

Ethiopia has signed an agreement with Morocco’s Office Cherifien des Phosphates (OCP), the world’s largest phosphate exporter, to implement a fertilizer project in the eastern city of Dire Dawa. The deal was inked during a visit by a high-level delegation to Morocco.

Oil Falls Below $75 on Risk-Averse Mood, US Gulf Output

Oil Falls Below $75 on Risk-Averse Mood, US Gulf Output

Oil dropped more than $1 a barrel to below $75 on Monday as rising risk aversion weighed on stock markets and boosted the US dollar, while more US Gulf oil output came back online in the wake of two hurricanes. The dollar rallied to its highest in a month on Monday as pending catastrophe at devel

Bangladesh Offers Special Economic Zone for Saudi Investors

The Bangladeshi prime minister's private industry and investment adviser, Salman Fadel Rahman, revealed on Sunday that his country is prepared to set up a special economic zone exclusively for Saudi investors with the necessary facilities. Rahman stressed his country's hopes to facilitate and enh

UAE, UK Ink Deals to Develop Clean Hydrogen Hubs

UAE, UK Ink Deals to Develop Clean Hydrogen Hubs

The Abu Dhabi National Oil Company (ADNOC), BP and Masdar have announced the signing of strategic framework agreements to expand upon the United Arab Emirates and UK’s partnership in energy sustainability. The deals include the potential development of clean hydrogen hubs in both the UK and UAE a

Lebanon Raises Gasoline Prices Further

Lebanon Raises Gasoline Prices Further

Lebanon’s incoming minister of energy announced on Friday new price hikes for gasoline of nearly 40%, effectively narrowing the fuel subsidy. This raises the price of 20 liters of 95-octane gas to 174,300 Lebanese pounds, and 98-octane gas to 180,000 Lebanese pounds.

Electric Car Sales in Saudi Arabia to Witness Growth by 2025

Electric Car Sales in Saudi Arabia to Witness Growth by 2025

Official Saudi data revealed expectations for the growth of car market sales in the country over the next four years, with a particular focus on electric cars. The semi-annual report of the National Center for Industrial Development in Saudi Arabia, issued on Thursday, said that the vehicle sale

Oil Holds Above $75 as US Inventory Drop Supports

Oil Holds Above $75 as US Inventory Drop Supports

Oil slipped but held above $75 a barrel on Thursday, within sight of a near seven-week high hit a day earlier, supported by a big drop in US crude inventories and expectations of recovering global demand. US crude inventories fell by 6.4 million barrels last week, more than analysts expected, as

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