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Tag Archives: middle east oil

AP Interview: IMF says low oil prices still hurting Mideast

middle east oil, mideast economy, oil prices, OPEC

DUBAI, United Arab Emirates (AP) — Oil-producing Mideast countries are coping with low global oil prices though more government reforms are needed, the International Monetary Fund’s chief for the Mideast said as the organization issued a new report Wednesday showing weak economic growth in the region. Masood Ahmed also told The Associated Press that Iran’s economy beat expectations by growing ...

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Leviathan partners and BG close to $30b Egypt gas deal

offshore drilling rig preparing to explore the Levithan gas field in the Middle East

The Leviathan partners and British Gas (BG) are negotiating the final details of a contract for exporting Israeli natural gas to Egypt, and will sign it in the coming weeks, senior sources in the gas companies said today. According to the sources, the plan is to sign the contract before Shell Oil completes its acquisition of BG next month. Representatives ...

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Saudis looking at raising domestic energy prices – oil minister

RIYADH – Saudi Arabia is looking at raising domestic energy prices, Oil Minister Ali al-Naimi said on Tuesday, confirming that the kingdom could cut a lavish system of subsidies blamed for waste and surging fuel consumption. Asked on the sidelines of a mining conference whether he expected domestic energy prices to increase in the near term, Naimi told reporters: “What ...

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150,000 oil and gas jobs lost worldwide

Since oil prices began their dramatic decline last summer, over 150,000 jobs in the oil and gas industry have been cut across the globe, according to a recent report from oil and gas job services company Swift Worldwide Resources. As reported by Rigzone, the Swift report states that the United States witnessed the “fastest and steepest decline” of oil and ...

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