Two Kuwaiti oil experts – Mohammad Al-Shatti and Amer Al-Tamimi – urged the GCC countries to put plans and take reform measures to face falling oil prices.
The United States government has finally rejected the controversial Keystone XL pipeline project, which was intended to ship crude oil from the Alberta oil sands of Canada down to the southern coast of the US.
Nigerian National Petroleum Corporation announced planned investments of around $20b in its operations next year, with the aim of ensuring that Nigeria’s crude oil production capacity hits 3m bpd by the end of 2016.
South Africa is considering building an oil refinery that will process Iranian crude to bolster its petrol supply and reduce its dependence on foreign companies.