Oil Prices | Egypt Oil & Gas - Part 18
Saudi Arabia Able to Withstand Oil Prices: Saudi FM
Saudi Foreign Minister, Adel al-Jubeir, has announced that Saudi Arabia can withstand the impact of low oil prices on state revenues and economic growth, reported Reuters.
Iran Prepared for All Eventualities of Oil Export Resumption
Iran’s Oil Minister, Bijan Zangeneh, has downplayed fears that the return of Iranian crude will further dampen oil prices, saying confidently that “we have vaccinated the market against this issue,” reported Press TV.
Saudi Plans Delayed as Credit Rating Drops with Oil Prices
Saudi Arabia's cabinet has deferred for further study a decision on limiting the private sector work week to 40 hours
Downstream Investments Struggle with Oil Price Drop
The substantial fall in oil prices has weakened the onshore market, causing project delays and a focus on reducing costs for pipeline owners,
Shell Gives a Tentative No to Alberta Oil Sands
Royal Dutch Shell Plc announced that it will not continue construction of its 80,000 b/d Carmon Creek thermal oil sands project in northern Alberta because of the lack of infrastructure to move Canadian crude to market
Mining to Make Major Contribution to Saudi Diversification
Saudi Arabia's plans to diversify its economy away from oil gained additional imputes with the announcement that the country's mining sector is set to triple by 2030.
Saudi Seriously Contemplating Slashing Energy Subsidies
Oil Minister Ali al-Naimi confirmed suspicions that the Saudi kingdom could cut its system of energy subsidies
UAE Struggles Over Predicting Ideal Oil Price for its Budget
Oil at $50 a barrel is a “gift to the world” as prices should be low enough to spur economic growth, explained Ali Al Mansoori head of Abu Dhabi’s Department of Economic Development
