Abu Dhabi Plans International Tender for Oil and Gas Exploration Blocks
Abu Dhabi will conduct its first-ever competitive tender for international partners to explore and develop oil and gas blocks onshore and offshore.
IEA Sees No End to US Shale Output Surge
The scheme by OPEC and non-OPEC producers to collectively curb oil production has brought stability to the global market—which, as a result, could soon be awash in “a second wave” of US shale output growth.
OPEC, Non-OPEC Partnership Extends Production Cuts Through 2018
OPEC and a Russian-led group of non-OPEC producers agreed to extend their deal to collectively curb oil production until the end of 2018, following through on their efforts to rebalance the oil market and support higher crude prices.
OPEC Extends Production Cuts 9 Months, Impacts Analyzed
OPEC has renewed its effort to prop up global crude prices, but the impact may also drive US production higher.
Battle for Oil Market Control Could Have a Lasting Impact
Expectations of continued USD 100/bbl of oil were shattered by a sharp price drop last year that eventually halved the prices of benchmark crudes. Prices were still sinking at the start of the year to lows not seen since 2009 due to a global oversupply of oil.
Low Oil Prices Make Innovation a Priority
A sharp decline in oil prices is pushing oil and gas companies to innovate to increase efficiency and prepare to meet the world’s long-term energy needs, panelists said at the International Petroleum Technology Conference (IPTC) held in Kuala Lumpur, Malaysia, in December.
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