UAE ‘to tap Mideast shale,’ says energy minister:
The Middle East has great potential as a shale oil-producing area, according to the UAE Energy Minister Suhail Al-Mazrouei, who said the Emirates would inevitably produce shale at some stage.
Speaking at the CERAWeek by IHS Markit energy forum in Houston, Texas, Al-Mazrouei said that the economics of the energy industry had changed following the boom in US shale production, and the UAE was looking at how it might exploit its resources.
“We need to thank the shale oil producers for significantly dropping the cost. That has helped us look at shale with a different eye in the Middle East and in many parts of the world where it is a viable source,” he told delegates.
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