Kuwait expects to spend around one billion dinars ($3.5 billion) less in the 2013/14 fiscal year, according to the state budget published by the Ministry of Finance, despite the major oil producer forecasting higher revenue.
The US will overtake Saudi Arabia as the world's top oil producer by 2017, the West's energy agency said on Monday, predicting the major energy importer would soon achieve self-sufficiency in oil and gas.
The forecasts by
Vallares, the bid vehicle of former BP boss Tony Hayward and financier Nat Rothschild, is in early stage talks to buy Genel Enerji, the biggest oil producer in Kurdistan in northern Iraq, the Sunday Times said.
The newspaper cited unidenti
Iraqi Oil Minister Hussain al-Shahristani said on Saturday he expected Iraq to become the world's top oil producer in six to seven years, and that Opec should take into account Iraq's need to rebuild its economy.
Emerging from the