Iran’s oil ministry announced that it has stopped oil sales to both Britain and France in a move seen as a direct retaliation for the upcoming EU embargo on imports of Iranian oil.

Horizon Terminals Limited (HTL), a wholly owned subsidiary of Emirates National Oil Company (ENOC), has inaugurated a new facility in Tangier, Morocco, with a total investment value of US$180mn.

Flowserve Abahsain Flow Control Company Ltd., a joint venture between Flowserve Corp. and S&A Abahsain Co. Ltd. recently inaugurated a new valve manufacturing plant and training center in the Dammam Second Industrial City.

ION is aiming to increase its presence in the region with the recent opening of its new international headquarters in Jebel Ali, Dubai.