Russian Economy today Critically needs pushing non-oil sectors

Russia needs to explore export revenue from products outside the energy sector as the economy suffers for a long period from low oil prices, Russian Economic Development Minister Alexei Ulyakayev...

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Speculation in oil markets An invisible factor in price decline

Oil supply and demand doesn’t fully justify the severe drop in prices during 2015 as speculation also played a role.   A rise in supply from outside the Organization at a time when demand for...

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Oil price may gradually rise to reach $80 in 2020

Now most of OPEC member countries became unable to balance their budgets at current prices. Hence, OPEC is assuming the oil price will rise gradually to $80/b in 2020 as supply growth outside the...

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Deep water projects amid race to slash costs

As oil prices deteriorated to around $50 a barrel, technological advances and increased cost-efficiency has become required more than ever to ensure the success of projects in both existing and new...

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OPEC maintains production during 1st half 2016

The Organization of Petroleum Exporting Countries decided to maintain its output at 31.5 million barrels per day, group president and Nigerian oil minister Emmanuel Ibe Kachikwu said after the...

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Russian Economy today badly needs pushing non-oil sectors

Russia relies heavily on exports of oil and gas for government revenue, leaving its economy vulnerable to lower energy prices. Crude oil prices are 50% percent lower than this date in 2014 mainly...

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Deep water projects and the race to slash costs

Before the decline in oil prices, there was a deep desire from exploration and production companies and oilfield services and equipment sale to invest in extracting oil from deep water, so that these...

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ASRY Board Approves 2016 Budget

ASRY Board Approves 2016 Budget   Chairman of the Board of ASRY reveals stable performance for year so far  ASRY, the leading ship and rig repair yard in the Arabian Gulf The Board of Directors of...

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OPEC maintains crude production during the coming six months

The Organization of Petroleum Exporting Countries decided to maintain its output at 31.5 million barrels per day, group President Emmanuel Ibe Kachikwu said after the December meeting of OPEC...

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