Based on financial analysis, the government in Bahrain has provided scraps to the country through meager bonuses approved by the MPs and Shura Council members in the meetings of the general budget draft.

While the government of Bahrain announced GDP growth of 6.9% in the second quarter of this year, it noted a decline in oil sector growth by 2.2%. So how did the sector's growth decline as oil prices doubled?

Official government data revealed that the revenues of the Abu Sa'afa field in the general budget increased to more than BD 1.33 billion in 2021, compared to BD 730 million revenues it achieved in 2020, and a growth rate of about 82%, as a result of the increase in oil prices in the global markets.

Official government data revealed that the revenues of the Abu Sa'afa field in the general budget increased to more than BD 1.33 billion in 2021, compared to BD 730 million revenues it achieved in 2020, and a growth rate of about 82%, as a result of the increase in oil prices in the global markets.

Bahrain will resume making payments into its rainy day fund, doubling the amount it contributes at oil prices over $80 a barrel, as it looks to rebuild savings tapped to handle the economic impact of the pandemic, the Bloomberg website stated.

The Bahraini Cabinet approved five ministerial memorandums, including a memorandum for Financial and Economic Affairs and Fiscal Balance, amending the Future Generations Reserve Law, by increasing investment in the Future Generations Fund from sales of crude oil exported outside the Kingdom of Bahrain.

The peace accords that Israel has signed with the UAE and Bahrain will serve as a foundation to expand energy trade, US Energy Secretary Daniel Brouillette said on Tuesday.

State oil giant Saudi Aramco started laying off hundreds of employees this month, two sources familiar with the matter said, as global energy companies reduce their workforces in response to the coronavirus crisis.

Gulf bourse markets rebounded on Tuesday, tracking the impact of global equities, supported by the increasing oil prices due to record cuts in supplies and increase on oil demands.

A recent report by "Arqaam Capital" predicted that the economies of the Gulf States will suffer a significant deficit for 2020 fiscal year, amid major pressures resulting from the sharp fall in oil prices and consequences of the Coronavirus outbreak.

A Republican U.S. senator introduced legislation on Thursday to remove American troops from Saudi Arabia, adding pressure on the kingdom to tighten its oil taps to reverse the crude price drop that has hurt domestic energy companies.

Bahrain has postponed two oil and gas conferences which were scheduled to take place this month, including a regional gathering for oil traders, due to the coronavirus outbreak.

Bahrain said on Monday it is committed to supporting an additional oil production cut of 600,000 bpd as recommended by Opec+'s joint technical committee at a meeting last week.

The Shura Council approved on Sunday (December 15, 2019) an agreement between the National Oil and Gas Authority (NOGA) and Italian firm Eni for oil exploration and production.

Saudi Aramco's blockbuster listing remained shrouded in mystery on Monday, a day after the company finally announced its plans, with scant details disclosed and expert valuations varying wildly from around $1.2 to $2.3 trillion.

Saudi Aramco chief executive Amin Al-Nasser hit out Wednesday at the absence of global resolve to stop attacks on more oil installations, one month after strikes on two of its facilities.

Bahrain's oil refinery has not been affected by attacks that disrupted Saudi crude exports earlier this month, Bahrain's Oil Minister Sheikh Mohammed bin Khalifa al-Khalifa said in a statement on Wednesday.

India will get two additional cargoes of liquefied petroleum gas (LPG) from United Arab Emirate's Abu Dhabi National Oil Co (ADNOC) to make up for a shortfall from Saudi Arabia, two government officials said.

Kuwait's deputy foreign minister said on Monday that Kuwait shares Saudi Arabia's optimism to end a disagreement over the Saudi-Kuwaiti neutral zone "very soon," state news agency (KUNA) cited him as saying.

Kuwait's oil sector is on high alert and has raised its security to the highest level as a precautionary measure in the wake of the weekend attack on Saudi Arabia's oil facilities, a Kuwaiti oil official said on Wednesday.