The Organisations of Arab Petroleum Exporting Countries (Oapec) has unveiled that 34 new oil and 10 new natural gas discoveries were made last year, said a report.
The most prominent oil discovery was made in H
Arab Petroleum Investments Corporation (Apicorp) wants to raise at least 2 billion riyals ($533 million) from local Saudi Arabian banks, Meed said on Wednesday, citing sources familiar with the matter.
Arab Petroleum Investments Corporation (Apicorp) on Tuesday said its shareholders agreed to nearly triple the development bank's capital base to $1.5 billion, helping it move ahead with investment plans.
Apicorp is owned by the 10 memb
Effective steps to avoid a future oil crisis must be taken and the impact of sustained high oil prices should not be overlooked, says a senior Organisation of Arab Petroleum Exporting Countries (Oapec) official.
Oapec director of technical
Arab Opec ministers began arriving in Cairo on Thursday ahead of talks expected to broach how high an oil price the world economy can stand as the market hovers near two-year peaks above $90 a barrel.
A full conference of the Organization
Arab Petroleum Investments Corp (Apicorp) on Sunday said it was in "mature discussions" to divest two of its key equity stakes.
The development bank -- owned by the 10-member states of the Organization of Arab Petroleum Exporting Countries
Oil imports in Organisation of Arab Petroleum Exporting Countries (Oapec) member states reached $277 billion in 2009 compared to $585 billion in 2008.
The 50 per cent drop resulted from decrease in oil prices due to global economic crisis,
Top oil exporter Saudi Arabia on Saturday described the current oil price as stable and 'perfect' for consuming and producing nations as he led talks in Cairo with other Arab oil ministers.
With oil around $75 a barrel, ministers s
Current oil price is good and that sharp price movements were no longer a problem, said Saudi Arabia's Oil Minister Ali Al Naimi on Saturday.
"The market is stable right now, volatility is at minimum," he told reporters. "Everybody is
Oil ministers from Arab producers are comfortable with current crude prices and several see no need for Opec to change its output targets when it meets in Angola this month.
Oil has rallied to above $76 a barrel, around the level leading e