UAE's Topaz Energy eyes expansion, better growth in 2018:
"Topaz Energy and Marine expects to expand in Kazakhstan and the Middle East as the Dubai-based oil services company projects better growth for the industry next year with oil prices stabilising around $50 a barrel, its chief executive said. A sharp drop in crude prices since mid-2014 has forced oil producing and service firms to re-evaluate projects worth billions of dollars and cut costs. Companies are looking at forming alliances to reduce risk. "The industry is becoming smarter ... We are in most offshore fields today, in an environment where $50 Brent is actually giving positive cash flow," Chief Executive Rene Kofod-Olsen said in an interview on Thursday."
'via Blog this'
No comments:
Post a Comment