Iran has discovered shale oil reserves of two billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday.
The Organisation of the Petroleum Exporting Countries Secretary-General said on Sunday that the group's exporters should not cut output to "subsidise" higher-cost shale, an energy source whose recent growth is blamed by Opec for we
State energy firm Saudi Aramco has extended the deadline for companies to bid for work on its unconventional gas facilities in the north of the country, signalling it remains committed to developing shale gas deposits, industry sources said.
Brent crude oil prices remained below $58 a barrel on Tuesday as the International Energy Agency (IEA) said the US will remain the world's top source of oil supply growth until to 2020, defying expectations of a more dramatic slowdown in sha
Opec’s decision not to cut output is a bold move which is designed to cramp non-Opec suppliers, especially US shale oil producers, a report said, adding that the decision was led by Saudi Arabia in a move to maintain its market share.
The first shale oil-fuelled power plant in Jordan will be ready by the end of 2018, a report said, adding it is expected to cut the country's energy spending by $500 million annually.
The $2.2 billion plant will have a total c
Robin M Mills is head of Consulting at Manaar Energy, and author of The Myth of the Oil Crisis and Capturing Carbon.
The year 2014 may be one in which the course of the GCC’s oil and gas industry is driven by the fickle w
At a dusty Texas oilfield, Apache Corp has eliminated its reliance on what arguably could be the biggest long-term constraint for fracking wells in the arid western United States: scarce freshwater.
For only one well, millions of
Top oil exporter Saudi Arabia remains unconcerned by a rising tide of US shale output which threatens to eat into Opec's market share, its deputy oil minister said on Wednesday.
"The world economy over the long term will
The US will become the world's largest oil producer next year overtaking Russia, thanks to its shale oil boom which has remade the global energy landscape, the West's energy watchdog said on Friday.
The prediction comes on