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
Higher production of oil at $100 per barrel could generate an additional $100 billion per year income to Iraq by the end of the decade, providing crucial support to the country’s fiscal position, a report said.
Using IMF pro
Opec's share of the world market will shrink in 2014 as rising supply of US shale oil gives the exporter group little comfort from the fastest growth in world demand in four years.
The Organization of the Petroleum Exporting C
The success of the shale revolution will be slow to replicate outside the US because of limited access to drilling equipment and skilled personnel, according to influential oil analyst Leonardo Maugeri.
US oil and gas producers significantly increased exploration, development and acquisition spending in 2012 despite a 58 per cent decline in after-tax profits that was largely driven by low natural gas prices, acc