DUBAI (AFP) — The economies of Middle East oil exporters are likely to suffer from a possible prolonged global recession as demand for the region’s main export wanes, the International Monetary Fund said on Sunday.
Government expenditure, however, should mitigate the slowdown, the IMF said in a report released in Dubai.
Arab states in the Gulf and [...]
MANAMA, Feb 2 (Reuters) - Bahrain and Royal Dutch Shell (RDSa.L) on Monday signed an agreement to study gas imports to meet the kingdom’s growing demand.
Bahrain, like its Gulf Arab neighbours, saw demand for natural gas rise rapidly as its economy grew on the back of a petrodollar-fuelled boom in the region. Bahrain aims [...]
Exxon Mobil finished a roller-coaster year in the oil markets with an all-time record $45.2 billion in profits, despite fourth-quarter earnings that were a third lower than the same period a year before.
With oil prices slumping, Exxon Mobil suffered a sharp drop in profits from producing oil and gas but higher profit margins at refueling [...]
By Jose Orozco and Steven Bodzin
Jan. 16 (Bloomberg) – Oil prices need to rise to about $70 a barrel to sustain investments in fields and avoid shortages, Venezuelan Energy and Oil Minister Rafael Ramirez said.
Venezuela, the biggest oil exporter in the Americas, is discussing prices with other members of the Organization of Petroleum Exporting Countries, [...]
Secretary General of OPEC, said that more than contain oil market is big and strong output cut is needed, sending crude oil prices on world markets in question.
The president of OPEC, but here too, that the unanimous support of the reduction in Organization
Note that speculation that the State of the Organization of Petroleum Exporting Countries [...]
By Maher Chmaytelli and Ayesha Daya
Nov. 30 (Bloomberg) — OPEC deferred a decision on reducing production this year by two weeks to gauge the impact of earlier cuts, as it seeks to push oil prices back up to $75 a barrel.
Crude has dropped 62 percent from July’s record of $147.27 a barrel as the global [...]
BAKU, Azerbaijan – Senior U.S. energy officials have criticized Russian natural gas projects during a visit to energy-rich Azerbaijan.
A U.S. special envoy for Eurasian energy issues said Thursday that Russia’s planned South Stream pipeline to Europe will be expensive and difficult to build. C. Boyden Gray said the project currently is not competitive with two [...]
By Simon Webb
DOHA, Nov 10 (Reuters) - French oil and gas giant Total (TOTF.PA: Quote, Profile, Research, Stock Buzz) is targeting nuclear energy to drive growth long after oil and gas output peak, a top executive said on Monday.
“In the future, energy demand will be constrained by tight supply,” Arnaud Chaperon, Total’s senior vice [...]
VIENNA, Austria – Oil prices slipped below $59 a barrel Wednesday as investors grappled with the prospect that global growth next year will slow more than originally feared, cutting demand for gasoline and other crude products.
Expectations that a snapshot of the U.S. inventories will also show reduced consumption of oil and derivatives also acted as [...]
Doha, Nov 10 (IANS) India and Qatar signed two deals on defence and security cooperation and discussed means to enhance economic and energy ties following Prime Minister Manmohan Singh’s arrival here, the first by an Indian prime minister to this Gulf nation.Manmohan Singh, who arrived here Sunday evening from Oman on the last leg of [...]
