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.
Adnoc has been able to close the transaction ahead of the expected closing date in the last quarter of this year
Abu Dhabi National Oil Company (Adnoc) has announced it has ...
Industry experts gathered in Abu Dhabi to discuss disruptive trends in the oil and gas sector
Oil companies in the Gulf must change the way they work if they are to ...
Ultimate target is to reach refining capacity of 8-10 million barrels a day
State-energy giant Saudi Aramco plans to spend more than $100bn on new refining and chemicals projects over the ...
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 ...
Maire Tecnimont is expected to take between one and one a half years to complete the feed works
Abu Dhabi Polymers Company (Borouge), the joint venture of Adnoc and Austria’s Borealis, ...
The privatisation of state oil companies shows the desire to reform outdated economic models is genuine.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 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 ...
IMPARTING KNOWLEDGE: The region’s construction industry is in a state of revival and can learn valuable insights from its oil and gas counterpart
With nearly $1.6tn-worth of major building and infrastructure ...
Total value of deals secured by top 10 contractors down 40 per cent from last year
The UK’s Petrofac, Italy’s Saipem, and Japan’s JGC Corporation have tied for the title of ...
China investment makes up an increasing proportion of the financial support for the largest projects in the region’s power sector
The financial close of the $4.4bn fourth phase of Dubai’s Mohammed ...
Abu Dhabi closes Adnoc Oil Pipelines infrastructure deal
ENERGY CLUB 2: Oil & Gas Transformation
Aramco to spend $100bn on refining and chemicals
Adco ready to sign Bab expansion contract
Abu Dhabi to tender Borouge 4 in mid-2020
Oiling the Wheels of the Economy
China strengthens role in region’s energy sector
Transforming Construction: Lessons from Oil & Gas
Three firms tie for title of top EPC
China ramps up investment in Middle East power
27 February, 2018 | .By WIL CRISP