Low production costs for Middle East companies offer regional players significant competitive advantage in the low price segment of an oil ‘super cycle’, a report said.
Oil traded near $60 a barrel as companies in the U.S. reduced the number of active rigs by the slowest pace since a prolonged retreat in drilling that began in December.
Despite a sizeable fiscal deficit this year and the next due to decline in oil prices, Oman is likely to avoid deep cuts in spending as the real GDP grows by 4% in 2015 before moderating to 3.7 per cent in 2016, a re ...
BP has cut its development budget for Iraq's giant Rumaila oilfield by $1 billion this year after the government warned a slump in crude prices and its battle against Islamic State was making it difficult to pay oil ...
State-owned Qatar Petroleum will announce a restructuring plan in the coming months to adapt to the drop in oil prices, the head of its wholly owned international subsidiary said.