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Tag Archives: middle east oil

AP Interview: IMF says low oil prices still hurting Mideast

middle east oil, mideast economy, oil prices, OPEC

DUBAI, United Arab Emirates (AP) — Oil-producing Mideast countries are coping with low global oil prices though more government reforms are needed, the International Monetary Fund’s chief for the Mideast said as the organization issued a new report Wednesday showing weak economic growth in the region. Masood Ahmed also told The Associated Press that Iran’s economy beat expectations by growing ...

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Azerbaijan: 1 dead, 30 missing, 33 saved after oil rig fire

BAKU, Azerbaijan — One worker was killed, 30 were missing and 33 were rescued Saturday after a fire swept through a Caspian Sea oil platform owned by Azerbaijan’s state oil company SOCAR, the company said. The missing workers were in a lifeboat that fell into stormy seas, according to a joint statement issued late Saturday by SOCAR, the country’s emergency ...

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Oil price fluctuations unlikely to impact industry trajectory

JEDDAH — The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector. However the current fluctuations may speed up some of the trends that were already unfolding according to Deloitte’s latest Oil and Gas Reality Check 2015 report. The report outlines six of the major issues currently impacting the oil and ...

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150,000 oil and gas jobs lost worldwide

Since oil prices began their dramatic decline last summer, over 150,000 jobs in the oil and gas industry have been cut across the globe, according to a recent report from oil and gas job services company Swift Worldwide Resources. As reported by Rigzone, the Swift report states that the United States witnessed the “fastest and steepest decline” of oil and ...

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