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Non-oil sector to play key role in Saudi GDPSaudi Arabia’s GDP is likely to grow three per cent in real terms driven by a vigorous non-oil sector which will compensate for the decline in oil output in 2013, a report said. Growth in the non-oil sector will remain above More… |
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UAE sees no need to reduce oil outputThe United Arab Emirates does not see the need to cut oil production, the UAE's oil minister said after being asked whether his country would follow Saudi Arabia's big reduction in output in late 2012. "No. At the mom More… |
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Overseas output hike 'to hit Saudi 2013 income'Production hikes by other oil producers will weigh on energy prices in 2013, potentially cutting into Saudi Arabia's fiscal surplus, Finance Minister Ibrahim Alassaf said on Sunday in a television interview. The world's to More… |
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Gulf oil output surges in AugustOil output by the big three Gulf producers saw a net increase of around 400,000 barrels per day (bpd) in August from July as a sharp rise in Kuwaiti output outweighed cuts by Saudi Arabia and the UAE, sources said. Saudi Arabia an More… |
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Bahrain's oil output up 33pc in 2011Bahrain saw oil production increase 33 per cent last year, having risen by 24 per cent the previous year, said Energy Minister Dr Abdulhussain Mirza. This has been due to the hard work by Tatweer Petroleum, the joint venture between nogaho More… |
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Reliance fined $1.3bn over fall in outputIndia's government has asked energy giant Reliance Industries to pay a $1.25 billion penalty for a fall in gas production from its main oilfields, a company executive said. The government and investors have been concerned for months over R More… |
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Agoco cuts oil output due to protestsLibya's Arabian Gulf Oil Company (Agoco) has cut its oil production by 20,000 barrels per day (bpd) due to protests that have closed off its headquarters for more than a week, a spokesman said on Thursday. More… |
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Opec output surges to record high in MarchOpec oil output has risen in March to its highest since October 2008 as higher supply from Iraq and further recovery in Libya's production offset a drop in shipments from Iran, a Reuters survey found. Supply from the 12 members of the More… |
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Iraq sees oil output rising 13pc by year-endIraq will reach oil output of 3.4 million barrels per day by the of this year, its oil minister said, just days after the country's oil production exceeded 3 million for the first time in more than three decades. 'By the end of th More… |
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Iraq oil output over 3m bpd after decadesIraq's oil production has risen above three million barrels per day for the first time in more than thirty years, it announced on Monday, and said it will sharply increase exports with a major new floating oil terminal beginning operations in thre More… |
