- QatarEnergy selects Nakilat to own and operate 25 conventional LNG vessels
- The joint development of the Dorra field between Saudi Arabia and Kuwait is pending the demarcation of the border with Iran
- Minister of Energy reaffirms the UAE’s commitment to adopting clean energy and supporting the Paris Agreement
- The new Hassi Messaoud refinery enjoys the support of the government and President Tebboune
- Increasing electrical interconnection capacities to export electricity beyond borders
- Qatar Energy stops sending liquefied gas tankers through the Red Sea for security reasons
- The inauguration of the Duqm Refinery, the largest joint Gulf project in the refinery sector
- Saudi oil exports are faltering due to Houthi attacks on ships in the Red Sea and Gulf of Aden
- Algeria to host and chair the Gas Exporting Countries Forum summit (February 29 to March 2, 2024)
- Egypt Energy Conference and Exhibition 2024 gives a strong impetus to the global energy dialogue
EIA Slightly Raises 2015 and 2016 Oil Production Forecasts
The U.S. government on Tuesday modestly raised its 2015 and 2016 U.S. crude oil production forecasts while lowering its price outlook.
In its short term energy outlook, the U.S. Energy Information Administration raised its 2015 U.S. crude oil production growth forecast to 750,000 barrels per day (bpd) from 720,000 bpd.
The EIA forecast 2016 production will fall by 150,000 bpd, slightly less than its previous forecast of a 160,000 bpd decline.
The energy agency also lowered its forecasts for U.S. and global crude oil prices for 2016.
The average 2016 price for West Texas Intermediate crude , the U.S. benchmark, was forecast at $62.04 per barrel, a 5.4 percent drop from the previous monthly EIA forecast. The global benchmark Brent was forecast to average $67.04 per barrel, a 4.9 percent drop from the previous monthly EIA forecast.
