Exploration & Production

Production cuts spell bad news for Middle East exports with knock on effects

shipping containers 1150062Middle East oil exports are lower than they were 40 years ago due to increased internal consumption, and a slowing of production may affect the sector further than first thought

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Russia and Kazakhstan to join OPEC at talks

PutinAs OPEC countries are to meet with non-OPEC countries in order to discuss a production output cut in order to bring the oil price back above the US$55 per barrel mark 

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Saudi Arabia launches five major oil and gas projects

Salman bin Abdull aziz December 9 2013King Salman bin Abulaziz Al Saud of KSA announced five mega oil and gas projects, in line with Saudi's development plans, outlined by Vision 2030 

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Egypt accepts six oil and gas bids worth US$200mn

oil4Egypt has accepted six bids for oil and gas exploration worth a total investment of up to US$200mn, the Ministry of Petroleum said

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OPEC reaches agreement on production cut

opecmeetingnovOil prices rose above US$50 a barrel following OPEC’s historic agreement at its November 30th meeting in Vienna to cut production for the first time since the global financial crisis eight years ago

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