Qatar Announces Support to OPEC Deal Extension

• Monday, 22nd May 2017
• by Editorial Team

Qatari Oil Minister, Mohammad al-Sada, joined a growing number of major oil producers calling for an extension of the output cut deal established by the Organization of Petroleum Exporting Countries (OPEC) and non-OPE...

NNPC to Sign $6b Oil Exchange Deals

• Sunday, 21st May 2017
• by

Nigeria’s state oil company is finalizing the signing of $6b worth deals to exchange more than 300,000b/d of crude oil for imported gasoline and diesel, Reuters reported. According to CNBC Africa, the contracts includ...

Glencore, Carlyle Team to Buy Moroccan Refinery

• Wednesday, 17th May 2017
• by Dr. Mahinaz El-Baz

Swiss trading giant Glencore and U.S. private equity investor Carlyle Group have teamed up in an attempt to buy Morocco’s only oil refinery, hoping to recoup about $600m in loans they issued to the plant before ...

OPEC Signals Oil Output Cut Extension

• Tuesday, 9th May 2017
• by Editorial Team

Saudi Arabia’s Oil Minister, Khalid al-Falih, announced on the 8th of May that oil producers would “do whatever it takes” to re-balance the market and that he expected a global deal on cutting crude ...

Iran to Stick to OPEC Decision on Oil Cut Deal

• Sunday, 7th May 2017
• by Editorial Team

Iran’s Oil Minister, Bijan Namdar Zanganeh, stated that the Persian Gulf country will go along with whatever decision the Organization of Petroleum Exporting Countries (OPEC) makes, at its meeting later in May, on whe...

OPEC Cuts 153,000b/d in March

• Tuesday, 18th April 2017
• by Editorial Team

The Organization of Petroleum Exporting Countries (OPEC) reduced March’s output by 153,000b/d to around 31.9mb/d, ForexLive reported, citing OPEC’s official statement. OPEC’s 11 members with supply targets cut o...

Rosneft to Provide 10 LNG Cargoes to Egypt

• Tuesday, 21st March 2017
• by Dr. Mahinaz El-Baz

A trading unit of Russia’s largest oil producer Rosneft Trading SA (RTSA) has signed a deal to supply 10 liquefied natural gas (LNG) cargoes to the Egyptian Natural Gas Holding Company (EGAS) in 2017. The first ...

Oil Inventories Increase Despite OPEC Deal

• Wednesday, 15th March 2017
• by Editorial Team

The Organization of Petroleum Exporting Countries (OPEC) announced oil inventories have risen and prices continued to fall despite the global deal to cut supply, Reuters reported. According to BBC, the OPEC member Sau...

Siemens to Build Power Equipment in Iran

• Monday, 6th March 2017
• by Editorial Team

Iran has signed a preliminary deal with Germany’s Siemens to manufacture equipment for the country’s electricity industry, Ventures Onsite informed. The Iran Electricity Industry Syndicate’s Member, Arsalan Fathipour,...

Iran Eyes $80b Oil Deals Despite Trump’s Threat

• Sunday, 5th March 2017
• by Editorial Team

Iran is negotiating $80b of oil deals for signing, some of which are expected to be finalized no later than June, Iran Daily reported. According to Press TV, top negotiator Abbas Araqchi shrugged off concerns about th...