Energy
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...

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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...

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Egypt’s Sisi: Newly-discovered gas fields to save about $3.6 bln yearly

Till some years ago Egypt was among the energy exporters, and now it has become an importer after domestic output failed to keep pace with rising demand in recent years. But the discovery of the 850...

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Saudi Arabia, Russia push to extend oil output cuts until March 2018

Saudi Arabia and Russia, the world’s two top oil producers, agreed on the need to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up...

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IEA: Global conventional oil discoveries fell to record low in 2016

According to Oil and Gas Journal Editors, the global conventional oil discoveries fell to a record low in 2016 as companies continued to cut spending. Also, the number of conventional resources...

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The longest sea pipeline to transport gas from the Eastern Mediterranean to Europe

Israel, Italy, Greece and Cyprus pledged on Monday to push ahead with the project to extend the world’s longest undersea gas pipeline, which will extend 2,000 kilometers east of the...

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IEA says global oil market now close to balance

The global oil market is close to balance, after nearly three years of excess supply, as production cuts by top exporters offset a longer-term decline in demand in the richest nations, the...

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Optimism among Arab circles that oil market will improve by end 2017

Kuwait’s Oil Minister Essam al-Marzouq said the market could gain balance by the third quarter of this year, as long as producers agreed to an OPEC cut-off agreement settled by end 2017.   He...

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Iraq’s Kurdistan negotiates $3 billion oil pre-payment deals

Iraq’s Kurdistan has agreed new deals to borrow $3 billion from trading houses and Russian state oil firm Rosneft that will be guaranteed by future oil sales to strengthen its fiscal position...

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Aramco agreement with Petronas gives Saudi Arabia the largest share in Asian markets

Reuters said that Saudi Arabia – the largest oil exporter in the world – cut a long way in the race for market share in Asia after it agreed some days ago to inject seven billion dollars in a...

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