Iranian crude oil production is likely to increase in 2016 but will take years to reach its previous peak, Fitch Ratings says in a statement issued today. Iran exports 1.1 million barrels a day (b/d) now compared with around 2.5 million…
Tag: oil
Oil and power to top EIC Middle East conference agenda
Abu Dhabi, 27 May 2015: Abu Dhabi National Oil Company (ADNOC), BP, Shell, MASDAR, Emirates Nuclear Energy Corporation (ENEC) and ACWA Power will join leading contractors Fluor, Petrofac, and McDermott at the Energy Industries Council’s (EIC) biennial event initiative for…
Saudi Aramco move curbs power of the kingdom’s Oil Ministry
The decision to split Saudi Aramco, the world’s largest oil and gas producer, from the Ministry of Petroleum & Minerals is a logical extension of the decision earlier in the week to appoint its president and chief executive officer Khalid…
Big turnout expected at EIC meeting in Abu Dhabi
A big turnout is expected for the EIC Connect seminar and exhibition at the St Regis Hotel, Saadiyat Island in Abu Dhabi on 2 June organised by the Energy Industries Council (EIC) of the UK. The event will include contractor…
Video: introduction to the GCC
This is a 20-minute video introduction to the economics and politics of the GCC.
The Middle East in the first quarter of 2015
IMF says Qatar Petroleum revenue review begun
Qatar Petroleum (QP) is review the impact on its income of lower oil prices that could be permanently lower, the IMF’s Article IV report released on 2 April says. “The authorities are currently assessing the implications of the oil price drop for…
Lower oil price could lead to ME contract challenges: DLA Piper
The sharp fall in oil prices could lead to attempts to renegotiate prices and other terms in contracts, international law firm DLA Piper says in a report about the implications for people doing business in the Middle East & North…
Will the GCC and the US be masters of the new world energy order?
A new world energy order may be emerging where the masters will be the GCC, the world’s biggest energy exporters, and the US, the world’s largest energy consumer. In an interview with Middle East Economic Survey (MEES) in December, Saudi…
GCC prepares for leadership change and the new world energy order
Whether history is the product of turning points or incremental change, 1 January 2015 feels like it’s a new start for the Middle East and the GCC in particular. On the horizon are generational leadership transition in the GCC and a…