Thursday 2 July 2015
 
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hydrocarbons

Oman Oil to drill two new exploration wells

Oman Oil Company Exploration & Production (OOCEP), the wholly owned upstream subsidiary of Oman Oil Company, plans to drill two exploration wells targeting hydrocarbon prospects in the east of the sultanate, a report said. OOC

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Oman Oil to drill two new exploration wells

Oman Oil Company Exploration & Production (OOCEP), the wholly owned upstream subsidiary of Oman Oil Company, plans to drill two exploration wells targeting hydrocarbon prospects in the east of the sultanate, a report said. OOC

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Lower oil prices may spur the Gulf to diversify

Low crude production costs and fiscal breakeven prices will support the GCC in a period of low oil prices increasing the pressure to diversify away from the hydrocarbon sector, a report said. Because of the region’s accumula

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Flat hydrocarbon growth to limit GCC economy

The GCC will see a real GDP growth of 2.8 per cent in 2015, slowing from 4 per cent in 2014 on account of flattish hydrocarbon production and softer non-hydrocarbon sector activity, a report said. Real GDP growth in Saudi Arabia w

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Kuwait Energy finds new hydrocarbon site in Egypt

Kuwait Energy, an independent oil and gas company, and its partner the Egyptian General Petroleum Corporation (EGPC), have announced the discovery of hydrocarbons on the East Ras Qattara development lease in Egypt. The exploration

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Economic growth drives Abu Dhabi office market

Abu Dhabi’s economic expansion across key sectors such as aviation, education, and healthcare, coupled with the continued growth of the hydrocarbon industry is driving increased demand for office and industrial space in the emirate, accord

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Saudi Q1 economic growth slows to 4.7pc

Saudi Arabia's economic growth eased to an annual rate of 4.7 percent in the first quarter of 2014 as labour market measures curbed activity in some sectors, but the expansion was still stronger and more widespread than growth a year ago.

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Bahrain economic growth accelerates strongly in Q1

Bahrain's economic growth accelerated strongly in the first quarter of 2013, helped by a revival of oil output, official data showed on Sunday. Gross domestic product, adjusted for inflation, expanded 2.5 percent quarter-on-qu

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Mideast facing ‘double dilemma’ over oil future

The Middle East is facing a double dilemma over the global competitiveness for oil in the future, said experts at a panel discussion held by the International Institute for Strategic Studies (IISS) - Middle East in Bahrain. On the

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Saudi firms resilient ‘despite global risks’

Although business optimism levels in Saudi Arabia have lowered for the third quarter of 2012 due to aggravated global risks, a large portion of businesses still expect expansion of their businesses and new order activity, said an expert.

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