Lenders are preparing to cut the credit lines to a group of junk-rated U.S. shale oil companies by as much as 30 percent in the coming days, dealing another blow as they struggle with a slump in crude prices, accordi ...
The drop in oil prices represents a crucial threat to the execution of many mega projects worldwide, Kuwait Petroleum Corporation CEO Nizar Al-Adsani said on Sunday.
A drop in shale oil production has triggered a rebound of global oil prices, but prices will not rise sharply as long as the world's economy stays sluggish, Kuwaiti Oil Minister Ali Al-Omair was quoted as saying
JSC Gazprom Neft reported start of shale oil production from the Bazhenov formation during tests of two wells in southern Priobskoye field in central western Siberia. Tests are planned for two other wells.
According to an unofficial specialized study, there is a potential of existence of shale oil in Kuwait as there are 23 calcareous clay layers expected to be a source of shale oil and gas, an expert said.