GCC economies see sharp slowdown in 2016

February 5, 2017

The GCC economies have recorded a sharp slowdown in 2016 amidst public sector spending cuts tightening liquidity and investor uncertainty a report said adding that growth is expected to improve in 201... View more

Egypt non-oil sector sees sharp downturn

November 3, 2016

Egypt s non-oil private sector sank further into contraction in October with business conditions deteriorating at the strongest rate since July 2013 according to a survey sponsored by Emirates NBD and... View more

Baker Hughes sees sharp fall in profit

April 2, 2012

Baker Hughes expects first-quarter profit margins to fall sharply as the disruption of North American clients bailing out from natural gas fields proves rougher than expected for the third-largest oil... View more

Middle East rig numbers drop due to sharp fall in demand

September 21, 2009

THE sharp deterioration in oil and gas demand resulting from the global economic downturn has triggered a steep drop in the number of drilling rigs in use at many of the world s major hydrocarbons sit... View more

Eni, Schlumberger post sharp drops in profit

April 30, 2009

Top oilfield service company Schlumberger and oil producer Eni both posted sharp declines in profit but their shares climbed as the results exceeded badly depressed market expectations. Energy compani... View more

Chevron sees sharp lowering of Q1 profit

April 19, 2009

Chevron Corp warned that first-quarter earnings would be sharply lower than the previous quarter as lower oil and gas prices took a toll and refined-product margins shrank significantly. The second-la... View more

Sharp rise in occupancy

October 28, 2008

Ivor Prestwood has taken over as general manager at the Crowne Plaza Bahrain. Six weeks into his new role he talks to SHALU CHANDRAN The market is ever changing and what applies two months ago might n... View more

Sharp rise in China usage

February 25, 2007

China s apparent consumption of crude oil and refined products rose 9.3 per cent in 2006 from the previous year the commerce ministry said a far faster rate than analysts had estimated. China used 346... View more

Sharp rise in Indian fuel sales

January 3, 2007

India s domestic oil product sales leapt 12.6 per cent in November from a year earlier their fastest rate in over a year as naphtha sales surged on a pick-up in power plant use government data showed.... View more

BP chief sees sharp fall in global prices

June 18, 2006

Oil prices could fall to around 40 a barrel in the medium term and drop further in the long run on the back of steadily rising supplies John Browne the chief executive of BP said in a magazine intervi... View more

Norway eyeing sharp increase in oil investment

October 6, 2002

Norway s centre-right government is anticipating a sharp rise in oil and gas investments next year to nearly 70 billion Norwegian crowns ( 9.35 billion) Norway s biggest employers group said. Knut Aan... View more

Omani output in sharp fall

July 14, 2002

Oman s oil output has dropped significantly below expected levels because of production problems forcing the Gulf Arab state to set new output targets. The Middle East Economic Survey (MEES) said that... View more

Malampaya at the sharp end

January 21, 2002

The inauguration last year of the Malampaya offshore project has brought gas firmly to the fore in the Philippines and the country is now looking to develop the fuel as the cornerstone its of industri... View more

Sharp drop in oil freight costs to cut import bills

February 12, 2001

Oil freight costs that have fallen sharply from record peaks two months ago are helping reduce energy import bills already eased by lower crude prices. Tanker market experts said freight charges that ... View more