Iraq is sticking to an aspiration to increase its oil output by up to a third by 2020 despite warnings from some companies working in Opec's second-largest producer that projects could be delayed due to spending cuts.
Oil discoveries in 2015 fell to their lowest since 1952 as energy companies slashed exploration budgets in the wake of the oil price fall, creating a gap for meeting future demand, analysts at Morgan Stanley said on Monday.
Germany's government expects to spend around 93.6 billion euros ($106 billion) by the end of 2020 on costs related to the refugee crisis, a magazine said on Saturday, citing a draft from the federal finance ministry for negotiations with the
Abu Dhabi National Energy Company (Taqa) has slashed its proposed capital expenditure for 2016 despite reporting on Thursday a narrower fourth-quarter loss, as the company is impacted by lower oil prices.
Global oil firms have bee
Oman’s spending during the 9th five-year development plan (2016-2020) is estimated to reach RO65.9 billion ($170 billion), a report said.
Total revenues are projected at RO 51.1 billion, added the Oman Observer repo
There are no plans to scale back the Riyadh Metro projects despite the Saudi government clampdown on spending amid low oil revenues, said a report.
Besides the metro project, development works linked to the Haj and Umrah pilgrimag
Almost half (48 per cent) of all real estate investors across the Europe, Middle East and Africa (EMEA) region expect to increase their purchasing activity in 2016 compared with just 15 per cent who expect to be less active buyers, according to
Saudi Arabia's government, with its finances strained by low oil prices, is opening a fresh austerity drive by ordering ministries to cut their spending on contracts by at least five per cent, a document seen by Reuters shows.
The $23 billion Riyadh Metro will be completed on schedule in 2019 and its budget is ring-fenced, a senior official said on Wednesday, quashing speculation the project could be scaled back or delayed following a slump in Saudi Arabia's oil r
With the government slashing its project spending amid the oil slump, the private sector will dominate the real estate sector in Dubai accounting for over 70 per cent of total supply of the emirate's housing units over the next few years, sa