Wednesday 7 December 2016
 
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hydrocarbons

Mideast growth seen beyond oil and gas sector

The Middle East is well placed to diversify its economy away from oil and gas, with growth potential in numerous sectors such as solar power, tourism, finance, according to a new report by UBS, the world's largest global wealth manager.

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Occidental Oman to explore hydrocarbon options in Block 53

Occidental Oman (Oxy), the largest independent oil and gas producer in the Sultanate, plans to uncover the hydrocarbon potential in its Block 53 licence, a report said. “Recently we have started our exploration programme whe

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Kuwait's hydrocarbon wealth supports its economy

Kuwait's ample hydrocarbon assets will also provide a buffer allowing its public finances to withstand the impact of lower oil prices, said an industry expert. "Kuwait's government revenues are sensitive to oil price

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Kuwait's hydrocarbon wealth supports its economy

Kuwait's ample hydrocarbon assets will also provide a buffer allowing its public finances to withstand the impact of lower oil prices, said an industry expert. "Kuwait's government revenues are sensitive to oil price

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Oman, Bahrain ‘most affected’ by oil price slump

While lower oil prices affect all GCC countries, they do not react the same way, an industry expert said, highlighting that Oman and Bahrain are the most affected, whereas Saudi Arabia, UAE, Kuwait and Qatar are less impacted.

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Majority of Mena sovereigns stable: S&P

Nine out of the 12 Mena sovereigns currently have a stable outlook despite the still-challenging political and economic backdrop, a Standard & Poor’s report said. Bahrain and Saudi Arabia have negative outlooks, while Eg

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Oman Oil to drill two new exploration wells

Oman Oil Company Exploration & Production (OOCEP), the wholly owned upstream subsidiary of Oman Oil Company, plans to drill two exploration wells targeting hydrocarbon prospects in the east of the sultanate, a report said. OOC

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Oman Oil to drill two new exploration wells

Oman Oil Company Exploration & Production (OOCEP), the wholly owned upstream subsidiary of Oman Oil Company, plans to drill two exploration wells targeting hydrocarbon prospects in the east of the sultanate, a report said. OOC

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Lower oil prices may spur the Gulf to diversify

Low crude production costs and fiscal breakeven prices will support the GCC in a period of low oil prices increasing the pressure to diversify away from the hydrocarbon sector, a report said. Because of the region’s accumula

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Flat hydrocarbon growth to limit GCC economy

The GCC will see a real GDP growth of 2.8 per cent in 2015, slowing from 4 per cent in 2014 on account of flattish hydrocarbon production and softer non-hydrocarbon sector activity, a report said. Real GDP growth in Saudi Arabia w

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