Subscribe  Log in | Register | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
Search
Related Articles
Letter from London: Aramco shows the West how to have it both ways
Saudi NOC has a clear strategy on energy security and the transition, providing a lesson to the often confused West
Middle East refiners primed for growth
Capacity additions set to take advantage of disruption to Russian diesel
Global LNG analysis report 2023 – Part 2
The second part of this deep-dive analysis looks at liquefaction and regasification developments in the Middle East and Asia-Pacific
Mideast upstream long-term outlooks diverge
The region’s producers have their own specific goals and face drastically different challenges
Riyadh doubles down on Chinese downstream partnership
A flurry of petchems co-investments reflects Aramco’s drive to preserve long-term market share in both crude and its products
Oman enters 2023 on a high
International commitments to its expanding petchems and LNG industries are a huge boon
Adnoc and Petronas sign exploration deal
The Middle Eastern NOC is tapping Malaysian expertise to help it develop an unconventional resource
Aramco pushes crude-to-chemicals frontiers
A trio of major project announcements signal the Saudi heavyweight’s renewed focus on maximising petchems yield
Aramco windfall trickles downstream
Refining, petchems and distribution businesses are feeling the investment impact of sustained oil market strength
Russia offers Middle East a card in US game
Opec+ cut agreement suggests Moscow’s Middle Eastern stock remains high
Ithra (King Abdulaziz Center for World Culture) celebrates the first ‘Founding Day’ holiday in Saudi Arabia
Saudi Arabia UAE Abu Dhabi Kuwait
Ahmed Mehdi
2 February 2023
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Mideast upstream long-term outlooks diverge

The region’s producers have their own specific goals and face drastically different challenges

This year will see global upstream oil and gas field development capex rise by 11pc year-on-year, to around $475bn, a significant improvement from 2020’s lows, according to Renaissance Energy’s forecast. The aggregate numbers, however, obscure significant variation. Much of this year’s increase in capex—when adjusted for inflation—is more modest. With questions looming around whether the global oil industry is underinvesting and the challenge of financing upstream projects, how is the Middle East positioned for the decade ahead? Despite Opec+ grabbing headlines last year for its nominal 2mn bl/d cut in production—which has been in place since November 2022—the highlight of the year was the s

Welcome to the PE Media Network

PE Media Network publishes Petroleum Economist, Hydrogen Economist and Carbon Economist to form the only genuinely comprehensive intelligence service covering the global energy industry

 

Already registered?
Click here to log in
Subscribe now
to get full access
Register now
for a free trial
Any questions?
Contact us

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Willow approval may be turning point that fails to turn
21 March 2023
Development expected to produce equivalent of up to 40pc of Alaskan daily production but is unlikely to herald a new age of megaprojects
Crude tanker market outlook remains strong
20 March 2023
Ukraine fallout continues to elevate tanker demand while restricting vessel availability
Global capex growth to moderate
20 March 2023
Worldwide E&P spending is set to increase in 2023, albeit at a slower pace than last year, Evercore predicts
Letter from London: Aramco shows the West how to have it both ways
Opinion
17 March 2023
Saudi NOC has a clear strategy on energy security and the transition, providing a lesson to the often confused West

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
  • Twitter
Tweets by Petroleum Economist
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2023 The Petroleum Economist Ltd
Cookie Settings
;

Search