- Saudi Arabia – and OPEC in general – may lose leadership of the global oil market
- Sara Al Amiri, Minister of State for Advanced Science, to visit Borouge Innovation Center
- IEA analysis: Gas industry’s future looks bright over next five years
- Russia’s energy minister sees 2018 oil price in range of $45-$55/barrel
- Iraq’s oil ministry: August oil exports averaged 3.216 mln bpd
- Saudi Aramco to build the Gulf’s largest shipyard:
- Qatar says sees merits of extending oil supply cut into first quarter of 2018
- Egypt’s Sisi: Newly-discovered gas fields to save about $3.6 bln yearly
- Saudi Arabia, Russia push to extend oil output cuts until March 2018
- IEA: Global conventional oil discoveries fell to record low in 2016
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Saudi Arabia – and OPEC in general – may lose leadership of the global oil market
Analysts at the BMI Research said the potential of shale oil in the United States is still largely unknown and that the oil prospects form Iran, Libya and Venezuela are Doubtful. Analysts say Saudi Arabia is reluctant to use its surplus production capacity to supply the market. In a report sent by...
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Sara Al Amiri, Minister of State for Advanced Science, to visit Borouge Innovation Center
Sara Al Amiri, Minister of State for Advanced Science, visited the Borouge Innovation Center in Abu Dhabi on July 4, 2018. The Minister met with scientists and researchers from the UAE and abroad who are making a continuous effort to use advanced technologies to find solutions in the plastics...
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IEA analysis: Gas industry’s future looks bright over next five years
Strong demand growth from China, greater industrial demand, and rising supplies from the United States, will transform global natural gas markets over the next five years according to the International Energy Agency’s latest market forecast. Global gas demand will grow at an average rate of 1.6%...
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Russia’s energy minister sees 2018 oil price in range of $45-$55/barrel
Russian Energy Minister Alexander Novak said he expected the 2018 price of Brent crude to be in the range of $45 to $55 per barrel. Speaking to reporters, he also said China had asked Russia about the possibility of shipping around 3.5 million tonnes of oil via the Russian Pacific port of Kozmino...
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Iraq’s oil ministry: August oil exports averaged 3.216 mln bpd
Iraq’s oil exports slipped to 3.216 million barrels per day in August from 3.230 million bpd in July as no shipments were made from the northern Kirkuk field, the oil ministry said All the volumes shipped in August came from the southern fields, it said in a statement. Kirkuk is the only field...
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Saudi Arabia –...
Analysts at the BMI Research said the potential of shale oil in the United...
Read more
Sara Al Amiri, Minis...
Sara Al Amiri, Minister of State for Advanced Science, visited the Borouge...
Read more
IEA analysis: Gas in...
Strong demand growth from China, greater industrial demand, and rising supplies...
Read more
Russia’s energ...
Russian Energy Minister Alexander Novak said he expected the 2018 price of...
Read more
Iraq’s oil ministry:...
Iraq’s oil exports slipped to 3.216 million barrels per day in August from...
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Saudi Aramco to buil...
Saudi Aramco to build the Gulf’s largest shipyard through a joint venture...
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Qatar says sees meri...
Qatar’s energy minister said on Saturday he was optimistic that extending...
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Egypt’s Sisi: ...
Till some years ago Egypt was among the energy exporters, and now it has become...
Read moreTraining
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Khalid al-Falih , Saudi energy ministerThere has been a mar...
There has been a marked reduction to the inventories, but we’re not where we want to be in...
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Essam al-Marzouq , Kuwait’s Oil MinisterThe market could gai...
The market could gain balance by the third quarter of this year, as long as producers agreed to an...
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Before the decline in oil prices, there was a deep desire from exploration and production companies...
Oil Prices of Today
| Crudes | $/B |
| Brent | $72.58 |
| WTI | $69.46 |
| OPEC Basket | $70.91 |
Primary Energy Sources (%)
(Share) |
(Share) |
|
| Primary Energy | 100% | 100% |
| Oil | 32% | 29% |
| Gas | 24% | 26% |
| Coal | 30% | 25% |
| Nuclear | 4% | 5% |
| Hydro | 7% | 7% |
| Renewables* | 3% | 9% |
Top 10 World Oil Reserves
| Countries | Crude Oil (Billion bbl) | % of total | R/P ratio |
| Venezuela | 298.3 | 17.5 | * |
| Saudi Arabia | 267.0 | 15.7 | 63.6 |
| Canada | 172.9 | 10.2 | * |
| Iran | 157.8 | 9.3 | * |
| Iraq | 150.0 | 8.8 | * |
| Russian fed. | 103.2 | 6.1 | 26.1 |
| Kuwait | 101.5 | 6.0 | 89.0 |
| UAE | 97.8 | 5.8 | 72.2 |
| USA | 48.5 | 2.9 | 11.4 |
| Libya | 48.4 | 2.8 | * |
- - Proved reserves as of 1.1.2015
- - * more than 100 years
- - Reserves include gas condensates and NGL’s as well as crude oil
Top 10 World Gas Reserves
| Countries | Crude Oil(Trillion CF) | % of total | R/P ratio |
| Iran | 1201.4 | 18.2 | * |
| Russia fed. | 1152.8 | 17.4 | 56.4 |
| Qatar | 866.2 | 13.1 | * |
| Turkmanstan | 617.3 | 9.3 | * |
| USA | 345.0 | 5.2 | 13.4 |
| S. A | 288.4 | 4.4 | 75.4 |
| UAE | 215.1 | 3.3 | * |
| Venzuela | 197.1 | 3.0 | * |
| Nigeria | 180.1 | 2.7 | * |
| Algeria | 159.1 | 2.4 | 54.1 |
- - Proved reserves as of 1.1.2015
- - * more than 100 years
