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Abu Dhabi agreement Algeria American Arab average Bank Banque Canada capacity cent chemicals coal consumption contract cost countries crude oil cubic metres decline demand domestic drilling economic Ekofisk energy estimated Europe expected exploration exports Exxon field financing forecast fuel oil gasoline Gulf heavy fuel increase Indonesia International investment Iran Japan June Kuwait Libya Limited major Middle East million b/d million barrels million dwt million tonnes million tonnes/year National natural gas Nigeria NNPC North Sea nuclear OECD offshore oil and gas oil companies oil imports oil prices oil production oilfield onshore OPEC operating output Petro-Canada Petrobras Petroleum Economist pipeline plant programme Qatar quarter recent recovery refinery refining reported reserves revenues rise Saudi Arabia sector share Shell Sonatrach Statoil supply surplus tanker Tenneco Texaco trade USSR Venezuela VLCCs West