Investment in oil exploration and production worldwide will increase this year to $380 billion, but may only return to 2008 record levels in two years time at the earliest, consultants Wood Mackenzie said on Thursday.
Spending in 2010 will
Energy demand in the Gulf has more than doubled in the past 10 years and is forecast to increase by 85 per cent by 2030 compared with 2008 levels, a Wood Mackenzie report said.
An energy demand surge in the Arabian Peninsula will be largel
The Middle East's share of the global liquefied natural gas (LNG) export market will shrink by nearly a third between 2012 and 2020, due to rising domestic demand, energy consultancy Wood Mackenzie said.
Demand in the region is being d
Surging economic growth and power demand in the Middle East is giving fuel oil a new lease of life and heralding big changes in international trade of the dirty left-over product of refined crude.
As European demand for fuel oil has waned
Abu Dhabi has invited four international oil companies to bid in the revised competition for one of the largest projects this year open to companies vying for limited access to the Middle East energy sector.
ConocoPhillips, Exxon Mobil, Oc