Oil Prices | Egypt Oil & Gas - Part 19
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, an industry expert told Trade Arabia. “Despite this, the delays we have obs...
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 marke...
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 Arabia’s Minister of Petroleum &...
Saudi Seriously Contemplating Slashing Energy Subsidies
Oil Minister Ali al-Naimi confirmed suspicions that the Saudi kingdom could cut its system of energy subsidies, reported Reuters. He was asked on the sidelines of a mining conference on Tuesday whether he expected dom...
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, in an interview with Bloomberg. Pr...
IMF: GCC Diversification Solution to Oil Price Dilemma
The IMF expects oil prices to average $52 a barrel in 2015, down from $110 a barrel in the first half of 2014, reported Gulf News. The latest IMF regional economic outlook added that banking and Financial services ind...
Oman Devising Energy Master Plan as Oil Workers Laied Off
Oman’s top 100 energy sector stakeholders held a workshop Tuesday aimed at drafting the most-critical recommendations to be included in Oman’s 25-year energy master plan, reported the Gulf News Journal. A long-t...
Angola Driving Ahead with Eurobond Plan as Oil Prices Falls
Angola’s Finance Minister announced that his country will meet with investors in the US and Europe starting October 26 to promote its first Eurobond sale, said Bloomberg. Angola, the continent’s second-lar...
