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The Oil industry Needs to Make Way for Natural Gas

Middle East : 16 March

A group of Analysts from the Erste group feel that the heyday of the Oil Industry has already reached fruition and it is now time to invest more readily in the Gas Industry.

Opec already agree that the price for a barrel of oil is now unlikely to ever exceed $80 in the future

Analysts also believe that there is too much false hope being placed on the theory that once the economy recovers sufficiently that Oil prices will once again begin to inflate. Instead it is much more likely that the reason demand for oil has increased since the start of the recession is because governments have gone to great lengths to create an artificial economy that cannot last once economics is allowed to return to its own devices. Once the Central no longer intervenes to allow an almost zero percent interest rate and countries no longer sink billions into economies with artificial stimulus packages then the demand for oil will once again decline as will the price.

Experts have also predicted that the current oil price, is just a side effect of artificially stimulating economies and is a situation that is doomed to failure in the long term as it is not a naturally occurring economic situation. Analysts are also very critical of the blind trust that is being placed in rapidly expanding economies such as China to keep increasing demand in the long term.

The IEA has already stated they think Oil supplies will hit their peak by 2020 and if demand is to remain in line with this new supply then the equivalent of 400% of Saudi Arabia’s current output capacity will need to be sourced to maintain stability of price control.

Andrew Reid, Staff Writer, Gulf Jobs Market News
14 March

Abu Dhabi Oil Refining Company Closes $9.6 Billion Dollar Deal

An Oil Refining Company based in Abu Dhabi has just agreed a deal stated to be worth in the region of $9.6 billion. This deal has been reached following negotiations with a number of Korean companies. This Abu Dhabi Oil Refining company which is known as Takreer is hoping that this venture will increase their [...]

14 March

Saudi Armaco and Qatar are Recruiting

If you are currently seeking employment then take heart there is plenty you can do today to help you in your oil and gas job search. In the Engineering industry, Saudi Armaco currently has a number of positions available. In the past couple of weeks they have advertised twenty six new Engineers for their operations. [...]

13 March

Developing Countries Lead the Way to Increase World Oil Demand

While there may have been a decrease in oil demand in some sectors of the world it is now looking that other developing nations may counteract this shortfall by actually increasing their demand for oil.
At the top of the growth list is China which it is estimated will account for approximately one third of the [...]

12 March

Shale Gas Leads to LNG Supply Demise

The LNG market is experiencing an unexpected slump in demand which has not been totally caused by the world recession but has also been caused by the discovery of natural gas supplies in US shale deposits which has led to an unprecedented increase in its gas reserves.
At present no imminent increase in demand for LNG [...]

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