Oil companies' view of Middle East is changing

Structural changes in the oil market, political uncertainty and the emergence of shale in North America are changing the way international oil companies (IOCs) view the Middle East, according to a report.

Arab Petroleum Investments Corporation (Apicorp) said IOCs were rethinking their strategy in the Middle East, with US majors ExxonMobil and Chevron focusing more on their investments in North America, where they see greater value and quicker returns.

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Oil companies' view of Middle East is changing

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