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Tag Archives: Persian Gulf

Gulf economic slowdown sees foreign workers trapped by debts

DOHA, Qatar (AP) — The economic slowdown gripping countries across the Persian Gulf can be seen in layoffs, slowed construction projects and government cutbacks. For the millions of foreign workers drawn by brighter job prospects, it can have a far-darker side if they find themselves deep in debt. Gulf countries like Qatar largely don’t have bankruptcy laws, leaving laid-off workers ...

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Iraq exports first natural gas shipment in its history

BAGHDAD (AP) — Iraq on Sunday exported the first shipment of natural gas in its history, a key development for the OPEC member struggling to feed a cash-strapped economy amid an expensive fight against the Islamic State group. The move revives a long-sought ambition by Iraq to be a gas exporter, thanks to a joint venture with Anglo-Dutch Royal Dutch ...

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Iraq’s oil exports dip by 14 percent in January

BAGHDAD — Iraq’s Oil Ministry said on Thursday that crude exports averaged 2.535 million barrels a day in January, a decrease of nearly 14 percent from the previous month, depriving the nation of badly needed cash both for ongoing military operations against extremists and reconstruction efforts. Last month’s revenues stood at $3.258 billion, based on an average price of $41.45 ...

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Report: Iran still fails to recover drowned pipelines after over a year


Iranian Offshore Engineering and Construction Company (IOEC) has failed to recover a 60-billion rials (some $2.1 million based on the exchange rate of USD at the free market) cargo of pipeline drowned in the Persian Gulf over a year ago, Iran’s PANA News Agency reported on Jan.22. The managing director of IOEC, Ali Taheri, had promised that the cargo would ...

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