Letter from the Middle East: Green shoots of recovery
There are many reasons to be cheerful across the Mena oil and gas patch
The hard times of 2020 are behind many oil and gas companies in the Mena region, with exploration increasing and projects stalled by the impact of Covid-19 regaining momentum. In a further sign of recovery, nearly $60bn in upstream opportunities is set to come to market this year. Saudi Arabia has consolidated its position as the world’s largest oil exporter, and the normalisation of ties with Qatar and its Gulf Cooperation Council neighbours has led to further economic growth in the Kingdom. As easing Opec+ cuts take effect, Saudi Aramco looks set to embark on a revamped strategy to increase gas production and commit to further gas-to-power projects in order to free up more oil for export.
Also in this section
10 May 2024
The US’ contentious LNG permitting pause has prompted criticism from CEOs and wildly differing interpretations from politicians
9 May 2024
Pipeline boosts Canada’s oil industry by widening its export options, making it less reliant on US market and bringing Asia into the mix
8 May 2024
Despite Australia’s first import terminal nearing completion, the prospect of additional regasification projects is far from certain