Cut | Egypt Oil & Gas - Part 2

India to Cut Iranian Oil Imports

India will cut Iranian oil imports is an attempt to push Iran to provide concessions on the Farzad B field.

UAE Boosts OPEC Production Cut in March

UAE’s production cut has boosted OPEC’s compliance with its oil-output-cutting deal to a record high of 95%.

Southern Iraq Exports 3.163mb/d of Oil in March

Iraq’s March production has been reduced by more than its share of 210,000b/d from its southern fields, while northern production has been reduced by around 30,000-40,000b/d so far in March from February.

Algeria Supports Extension of OPEC Deal

Algeria’s Energy Minister, Noureddine Boutarfa, announced the country’s support in extending global oil production cuts beyond June. Other countries have also added their support for a possible extension, including V ...

OPEC Reaffirms Commitment to Production Cut

According to Saudi Energy Minister, Khalid al-Falih, oil market fundamentals were already improving after the agreement, and oil prices are up more than 10% since the output curb deal was struck in November 2016, sta ...

Angola Cuts Output Following OPEC Deal

Angola has become the latest OPEC member to announce the beginning of production cuts. Output was cut by 78,000b/d to 1.673mb/d.

Zambia Cut Fuel Prices

Zambia's retail fuel prices fell early January due to subdued oil prices. The cut came after President Edgar Lungu said he expected to do so even as Brent crude climbed 13% in December 2016.

UK Oil and Gas Firms Plan to Cut More Jobs

About 32% of UK's oil and gas companies, more than four in 10, are planning to cut more jobs in 2016 in response to the downturn in the industry.

Royal Dutch Shell Cuts Spending after Profits Fall

Royal Dutch Shell will cut its spending by another 10% this year as it warned lower oil prices were continuing to affect its business. The company said it would reduce investment to $30b from a planned $33b.

China’s Fourth-Largest Oil Producer to Cut Salaries, Spending, Investments

Shaanxi Yanchang Petroleum Group, China’s fourth-biggest oil producer, is cutting investments and salaries due to the oil price crash.

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