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This is a good time to invest for Gulf national oil companies

These govt-linked entities are taking a long-term view and using the global downturn to squeeze suppliers and grab market share

Published Thu, May 7, 2015 · 09:50 PM

Oil prices

London

AS the oil industry tightens its belt after the worst price slump in a generation, the state-owned giants of the Middle East are taking the opposite tack.

Saudi Arabian Oil Co, Abu Dhabi National Oil Co and Kuwait Petroleum Corp are using a record number of drilling rigs and boosting production, a contrast to international companies from Exxon Mobil Corp to Royal Dutch Shell, which are shelving projects and slashing costs.

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