Middle East oil companies adapting to changing market

The national oil companies in the Middle East are evolving to adapt to the changing oil market,according to Waddah Ghanem from the Dubai-based Emirates National Oil Company.Speaking as part of a panel discussion at International Petroleum Week being held in London,the executive said that merely producing oil and gas was not enough anymore and many of the state-owned companies were diversifying and offering support and investment to a wide-range of downstream industries.