In an Interview with Bloomberg, Eni's CEO, Claudio Descalzi, stated that the company is keeping balance by lowering costs to the level of $20 per barrel.
A series of measures introduced by Angola’s government in recent years has pushed production costs up as much as $500m annually and the country risks losing investment from foreign oil companies.
Iran’s media revealed that the country plans to sell bonds worth a total of about $1.7 b next year
The start-up of Kuwait's Al Zour crude oil refinery is expected to be delayed after rising construction costs forced state refiner Kuwait National Petroleum Co (KNPC) to seek more money to finance the plant
Low production costs for Middle East companies offer regional players significant competitive advantage in the low price segment of an oil ‘super cycle’, a report said.
By Basma Mostafa
The entire oil and gas industry was shaken to the core, when oil prices began tumbling in mid 2014 after trading above $100 a barrel, but it was the upstream sector that bore the brunt of the dramatic price drop worst.