Oil Prices | Egypt Oil & Gas - Part 37
Saudi Oil Minister Calms Oil Fears, Says Demand Rising
Oil demand is growing and the market has turned “calm,” according to Saudi Arabia’s Oil Minister. “We want to see calm markets,” Ali al-Naimi told reporters after a speech at a conference in the Red Sea city of Jazan ...
Oil Price Slump Hits Qatar Investment House
A proposal by Qatar’s Investment House for a 750 million riyal (Dh734 million) flotation of an agricultural firm has been shelved by regulators, while investment in Qatar is slowing generally because of weak oil price...
Oil Price Slump Cuts Kuwait Budget Surplus
Kuwait’s government budget surplus shrank 26% in the first nine months of this fiscal year as lower oil prices cut revenue sharply, analysts at National Bank of Kuwait (NBK) calculated, using Ministry of Finance...
Marathon Oil Cuts Spending a Second Time
Marathon Oil Corp on Wednesday said it would cut its 2015 capital budget by another 20 percent to $3.5 billion, and reported that fourth-quarter profit rose, on a gain related to the sale of oil and gas properties in ...
Kuwait Adamant on Expanding Production Despite Oil Prices
Kuwait plans to boost its oil and gas drilling rigs by 50% by early 2016 as it seeks to boost crude and gas production despite low oil prices, the head of state-run Kuwait Oil Co (KOC) said. The Gulf state plans to de...
Iran Majlis Tries to Cut Oil Ministry Budget to $3 billion
The Iranian oil ministry won’t be able to pay staff or invest in boosting production if parliament proceeds with a plan to slash funding, according to Oil Minister Bijan Namdar Zanganeh. “The oil industry’s situation ...
Iraq, Iran Emulate Saudi Arabia in Asian Markets
Iraq and Iran cut their prices for March crude oil deliveries to Asia to the lowest in more than a decade, signalling the battle for a share of Opec’s largest market is intensifying. Iraq’s Basrah Light crude will sel...
Oil Prices Responsible for Cancelled Gulf Projects, Layoffs
Projects worth around $200 billion (Dh734.47 billion) were cancelled globally in the last three months due to falling oil prices, an oil and gas expert told Gulf News. Christophe de Mahieu, a partner in Dubai-based Ba...
