Gulf states to spend $320bn in the oil and gas sector
27 February, 2018 | By WIL CRISP
Gulf states are planning to spend $320bn in the oil and gas sector, according to Suhail Mohamed al-Mazrouei, the UAE’s Minister of Energy & Industry and the current Opec Conference President.
Saudi Arabia, Kuwait and the UAE are each planning to invest $100bn, according to Al-Mazrouei.
The UAE energy minister said he believed the US was also seeing a high level of investment, speaking at the International Petroleum Week conference in London.
“We need more investment,” he said.
Al-Mazrouei said that if there was not enough investment on production there could be future price volatility in energy markets.
He said that there was a risk that “when a shock comes we won’t have enough supply to meet demand,” and a buffer of spare production capacity is needed to prevent future boom and bust cycles.
Global investment in oil and gas during 2017 lagged behind levels recorded in 2015 and 2016.
The privatisation of state oil companies shows the desire to reform outdated economic models is genuine.
The fight between the London and New York stock exchanges to secure the listing of ...
The Covid-19 pandemic could provide greater scope for sovereign wealth funds to help boost regional economies starved of liquidity
US Treasury data released in May painted a dismal scene for Middle ...
Scope of work includes building platforms and pipelines at offshore sour gas field in Abu Dhabi
Adnoc Sour Gas – the sour gas unit of the Abu Dhabi National Oil Company ...
The state-backed Abu Dhabi Company for Onshore Petroleum Operations (Adco) is ready to sign the contract for the Bab Integrated Facilities Project Expansion, one of the largest planned oil and ...
Aramco’s supply chain community is trying to assess the impact of subdued capital spending in 2020 on their businesses
Most analysts had predicted Saudi Aramco would register lower profits in 2019 than the ...
Increased spending is needed to avoid future oil shortages, say industry leaders in Abu Dhabi
There is a growing consensus among international oil companies and global energy analysts that peak demand ...
The signing of a framework agreement between Abu Dhabi National Oil Company (Adnoc) and China National Petroleum Corporation (CNPC) covering potential offshore oil and sour gas fields is the latest ...
Rising output from the mammoth Zohr gas field, coupled with ambitions to augment its reserves, have helped Cairo regain its gas exporter status after a five-year hiatus
Italian energy major Eni’s ...
Natural gas production maintains steady incline
Middle East producers are boosting natural gas output to meet rising energy demand
About $33.5bn-worth of gas exploration and production projects are under execution across the ...
ENERGY BRIEFING PAPERS
THE QUEST FOR GAS
About $33.5bn-worth of gas exploration and production projects are under execution across the Middle East and North Africa (Mena) according to MEED’s projects database MEED ...
Oiling the Wheels of the Economy
Sovereign funds feel the pressure
EXCLUSIVE: Adnoc expected to seek contractors for Dalma
Adco ready to sign Bab expansion contract
Saudi Aramco tightens capital expenditure
ENERGY CLUB 1: Investing in the future of
China strengthens role in region’s energy sector
Egypt upstream gas exploration gathers speed
BRIEFING PAPER: The Quest for Gas
Energy trends – MEED Mashreq Energy Partnership Newsletter
27 February, 2018 | .By WIL CRISP