Industry

Renaissance Services releases strong 3Q results

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Renaissance Services (SAOG), Omani multinational oil and gas services provider, released strong 3Q results with revenue rising by 6 per cent to US$486.5mn in the nine-month period ending September 2010, up from $457.4mn last year.

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Bahrain’s energy exports soar

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Bahrain's new oil and gas statistics revealed soaring exports over the first half of this year, according to a report released by the National Oil and Gas Authority. By-product sales also rose by 10 per cent. Production of crude from the Bahrain and Abu Saafa fields dropped slightly to 32.659mn barrels from 32.922mn barrels last year.

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Global upstream spending estimated to reach US$380 billion in 2010

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Wood Mackenzie released a new report that revealed that global upstream capital spending in 2010 will return to higher growth and is set to exceed US$380 billion.

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Additional oil supplies found in Ghawar

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Saudi Arabia is hoping to extract more crude from the world's largest oilfield using new technology, the country's biggest oil producing company has said.

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Saudi Arabia ‘must tame energy use’

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Saudi Arabia's central bank governor has warned that the kingdom must tame growth in its domestic oil and gas consumption, which are too big for both its population growth and the size of its economy.

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