Saturday , October 21 2017

Tag Archives: oil

‘59 pc tax rate imposed on foreign oil firms’

KUWAIT CITY, March 7: The tax rate imposed on foreign oil companies that operate in the divided zone between Kuwait and Saudi Arabia and are subjected to the laws of Kuwait is 59 percent, reports Al-Shahed daily quoting informed sources. They said the tax rate is based on several factors …

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Oil is in good hands – Things looking positive

So far so good! There is no ambiguity concerning the fact that all oil producing countries including OPEC and non-OPEC members are working together to stick to their commitment to end the deterioration of oil prices. We are heading now to the end of the third month of the agreement …

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Is the ‘oil honeymoon’ going to last? – OPEC must find the ‘majic number’ to deter shale oil producers

Now that the oil prices are steadily and smoothly running at a good pace, with all oil-producing countries adhering to their word and commitment by 80 percent, and with the barrel price stabilizing at above $55 level for some time without any disturbances, we wonder for how long will this …

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Oil outlook: good news so far – Govts must find alternative incomes

The recent publication of BP on world energy demand of 2035-2040 is a promising one for conventional oil and its producers, that oil, gas and coal will continue to be the drivers of energy, representing 75 percent out of the 80 percent forecasted in 2015. However, this positive conclusion comes …

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US oil industry coming back cautiously – Sector pivots from brutal 2-year slump caused by crashing oil prices

NEW YORK, Jan 8, (AFP): The US oil industry is feeling guarded optimism going into 2017 as it pivots from a brutal two-year slump prompted by crashing crude prices. As the new year kicks off, industry insiders describe a tentative recovery, with some low-cost drilling basins starting to pick up …

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Testing time ahead for strong oil prices – Focus on output compliance

One question that is often asked since the issuance of OPEC’s decision last November in Vienna is whether the oil producing countries will honor their commitment to reduce oil production from beginning of this month. From now on, the clock will be ticking. Oil consumers will be observing and hoping …

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Oil hits 18-mth high as Kuwait cuts output – Libya raises production to 685K bpd

LONDON, Jan 3, (Agencies): Oil prices hit 18-month highs on Tuesday, the first trading day of 2017, buoyed by hopes that a deal between OPEC and other big oil exporters to cut production, which kicked in on Sunday, will drain a global supply glut. Benchmark Brent crude jumped more than …

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Time to invest in oil again – Signs for better oil prices seem more realistic

International oil companies are back to invest in the oil industry, as the signs for better and improved oil prices seem to be more realistic now. In particular, the meeting last month, which resulted in reduction of crude oil production and in non-OPEC members committing to further reduction such that …

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Who is the new oil leader? – OPEC must have plan B to retain its role again

Who indeed is the new oil leader? Without any doubt, it is Russia.  Russia is the one behind OPEC and the recent agreement of OPEC. Without its intervention, the oil prices would have still hovered around the level of $40 per barrel. The early historic agreement reached with Saudi Arabia …

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Iran signs two oil deals with Gazprom – Russian giant to develop to major oil fields

TEHRAN, Dec 14, (AFP): Iran signed preliminary agreements with Russia’s Gazprom on Tuesday to develop two major oil fields in the latest of a flurry of deals with foreign firms, local media reported. The deals open the way for Gazprom to carry out studies at the Cheshmekosh and Changouleh fields …

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