The UAE is the most active centre in the Middle East region for the UK’s oil and gas contractors, according to a survey
Industry
KUFPEC secures US$1bn loan for overseas expansion
Kuwait Foreign Petroleum Exploration Company (KUFPEC) has signed a US$1bn loan, which will be used for company’s general corporate purposes and international expansion plans
Halliburton and Baker Hughes merge in US$34.6bn deal
Oilfield services companies Halliburton and Baker Hughes have announced merger for US$34.6bn
‘Middle East to be key oil exporter by 2020’
Middle East will become the major source of oil by 2020 as the USA’s tight oil output and non-OPEC supply will decline worldwide, said International Energy Agency (IEA)
Iraq and KRI sign new agreement on oil exports
Iraq and the semi-autonomous region of Kurdistan Region of Iraq (KRI) have reached a deal that will ease tensions over the regional oil exports and civil service payments from Baghdad, according to Iraq’s finance minister
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