Oil Prices | Egypt Oil & Gas - Part 27
Saudi and Kuwait Entering the Global Solar Contest
To hear the oil ministers of Saudi Arabia and Kuwait talk about it this week, the race to develop massive solar power arrays in the world’s sunniest nations is nearly as important as the current battle for oil m...
UAE Facing Fiscal Deficit, Mulling IMF Tax Options
The UAE is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with UAE author...
Iran: OPEC Agrees Oil Price Still Unfair
Minister of Petroleum Bijan Zangeneh says Iran is not satisfied with current oil prices after OPEC decided to maintain production levels unchanged at its Friday meeting in Vienna. “We are not satisfied with the curren...
Saudi Oil Policy Misunderstood in US, says Former CIA Director
Saudi Arabia is trying to maintain its share of the global oil market rather than use its power in OPEC to curb U.S. producers, according to David Petraeus, former director of the Central Intelligence Agency. The Midd...
Saudi Arabia Measuring Influence on OPEC and Oil Traders
Saudi Oil Minister Ali al-Naimi is counting on oil traders to keep sitting on near-record volumes of stockpiled crude to prevent a second relapse in oil prices later this year. Senior traders, however, worry that his ...
Oil Price Slump Strains Saudi Finances
The latest monthly statistical data from Saudi Arabia Monetary Agency (SAMA) show the cumulative year-to-date drop in its net foreign assets has reached a large $45.9 billion (Dh168.6 billion) at the end of April this...
Abu Dhabi Exports, Investments Feel Pinch of Oil Prices
Fabulously wealthy Abu Dhabi is tightening its belt as low oil prices slash its export revenues – a sign that even the richest economies of the Gulf are not escaping the impact of cheap oil. The emirate of about...
The Tanker Market Sends Warning to Oil Giants
Four months into oil’s rebound from a six-year low, the tanker market is sending a clear signal that the rally is under threat. A sudden surge in demand for supertankers drove benchmark charter rates 57 percent higher...
