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GCC natural gas projects ‘worth $73bn’The total worth of natural gas projects currently under development in the GCC states is as high as $73 billion, a top official said. The projects include those in the tendering or EPC (engineering, procurement and construction) p More… |
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Mideast facing ‘double dilemma’ over oil futureThe 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 More… |
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GCC growth ‘set to drop to 3.6pc in 2013’GCC economic growth is set to slow to 3.6 per cent in 2013 from 5.4 per cent in 2012 as the three-year surge in regional oil production comes to an end, a report said. However, on the ground, business conditions are expected to re More… |
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Lower oil income may force Saudi to cut growth spendSaudi policy makers can look forward to a promising year ahead, with only a few clouds to unsettle a generally rosy economic outlook. Age and ill-health issues affecting the senior leadership, and the ensuing uncertainties over th More… |
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Russia beats Saudi in 2012 oil productionMore crude from state-owned top producer Rosneft kept Russian oil output the highest in the world last year, ahead of Saudi Arabia, Energy Ministry data showed on Wednesday. Crude output edged up almost 1 per cent to a new post-So More… |
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Lukoil cuts Iraq oil output plan by a thirdRussia's second-largest crude producer Lukoil said it has cut its oil production plan in Iraq by almost a third, in line with the local government's plans to increase the lifetime of its oilfields. Andrei Kuzyayev, head of More… |
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Iraq sees Kirkuk exports at record highIraqi exports of medium sour Kirkuk crude oil are set to rise to 484,000 barrels per day (bpd) in November, a preliminary loading programme showed on Wednesday, the highest in over a year. Exports were nearly 550,000 bpd in June 2 More… |
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Iraq oil output to hit 3.4m bpd by year-endIraqi oil production is likely to hit 3.4 million barrels per day (bpd) while exports are expected to average 2.9 million bpd next year, the top energy advisor to the Iraqi prime minister said on Tuesday. "Next year, the plan More… |
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UAE to boost oil production capacity to 3mThe UAE is on track to expand its crude oil production capacity to 3 million barrels per day (bpd) by the end of the year, two industry sources said on Tuesday. The UAE, one of the world's top oil exporters, increased its prod More… |
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Libya election could kick start economyLibya’s first free election in six decades is an important step to get the country’s economy moving again, attract investment, and unleash the true potential of the country’s oil wealth. Although Libyan daily oil produ More… |
