OPEC | Egypt Oil & Gas - Part 40
Russia Relunctant to Renew Output Freeze Talks
Russia sees no need for renewing discussion of an oil-output freeze at current crude prices, while leaving open the possibility for future talks with the Saudi counterparts.
Iraqi Oil Export Increased in July
Iraq's oil exports from its southern ports rose to 3.2mb/d on average in July, up from 3.175mb/d in June, as the Arabic nation increased crude production to bring in a $3.744b in oil export revenues.
Oil Prices Rose Nearly 3% over Freeze Buzz
Oil prices rose nearly 3% in first half of August over reports of renewed talks by some members of the Organization of Petroleum Exporting Countries (OPEC) to restrain crude output.
Venezuela Seeks to Revive OPEC Freeze Talks
Oil Minister for Venezuela, Eulogio del Pino, is once again hoping to persuade the Organization of the Petroleum Exporting Countries (OPEC) to reach a freeze deal that would help boost global oil prices.
Iran Approves IPC Terms
Iran's Council of Ministers has passed a regulation governing the general conditions, structure, and terms of upstream oil and gas contracts called Iran Petroleum Contract (IPC).
Algeria Boosts Gas Outputs
Algeria's Tiguentourine gas plant has resumed full production for the first time since a militant attack in 2013, seeking to boost gas transportation capacity to 18.3bcm/year by end 2019.
Descalzi: Eni Is Keeping Balance by Lowering Costs
In an Interview with Bloomberg, Eni's CEO, Claudio Descalzi, stated that the company is keeping balance by lowering costs to the level of $20 per barrel.
Saudi Arabia’s Oil Consumption Grows at Slow Pace
Oil consumption in Saudi Arabia, the world’s biggest crude exporter, is expanding at the slowest pace in at least six years as low energy prices hurt economic growth.
