Tag Archives: Persian Gulf Countries

Gulf Oil Producers on Energy Transition Mission

The coming 18 months will see the next two UN climate change conferences take place in the Middle East, with Cop 27 in Sharm el-Sheikh, Egypt, in November 2022 and Cop 28 in Abu Dhabi in November 2023. The events highlight the region’s commitment to decarbonisation and sustainable development, and …

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Saudis React to Economic Squeeze

Saudi Arabia and the UAE introduced the five percent Value Added Tax (VAT) in January of 2018, a first for the Persian Gulf region which had long prided itself on its tax-free, cradle-to-grave welfare system. On the same day, Saudi Arabia announced a petrol price hike of 127 percent.

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Gulf Oil Producers Brace for Budget Deficits

States in the Persian Gulf region understandably are ramping up spending in the midst of the Covid-19 pandemic. But their income also is in sharp decline as oil prices test lows. They must thus decide how to cover newfound deficits as oil trades in the US$20-$35-per-barrel range, and natural gas …

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