OPEC | Egypt Oil & Gas - Part 47
Iran Rejects Venezuela’s Call for OPEC Emergency Meeting
In the wake of Venezuela’s call for an emergency OPEC meeting, Iran’s Oil Minister, Bijan Zanganeh, said that such a meeting would hurt the crude oil market, unless it reached a decision to shore up falling pric...
Oman Eager to Cut Oil Production under OPEC Initiative
Oman announced that it was ready to cut oil output by 5% to 10% to buoy up oil prices, reported Arabian Business. The country’s oil minister, Mohammad bin Hamad al-Rumhy, said that the sultanate was prepared to ...
UAE Denies Nigeria’s Call for Emergency OPEC Meeting
The UAE has denied claims made earlier by Nigerian Petroleum Minister that an emergency meeting of OPEC was in order to discuss the current oil pricing policy amid a 12-year low drop of oil prices to $30, reported Reu...
Crude Oil Prices Decline over China’s Economic Slowdown
Global crude oil prices continue dropping to record low, with Brent down at $32.62 per barrel and US West Texas Intermediate (WTI) as low as $32.36, amid China’s emerging economic slowdown and continuous overpro...
Algeria’s Energy Export Volumes Drop 2.8%
Algeria’s energy export volumes dropped by 2.8% in the first nine months of 2015 due to increased domestic consumption and decreasing output, according to the Energy Ministry, Reuters reported. Overall energy exports ...
Russia’s Oil Output Hits Record in 2015
Russia’s oil output hits post-Soviet record with 10.73mb/d in 2015, up from 10.58mb/d in 2014, as small- and medium-sized energy companies such as Bashneft cranked up the pumps despite falling crude prices, repo... OPEC: $10t in Oil Investment Needed, $250 from non-OPEC Countries
The Organization of Petroleum Exporting Countries (OPEC) stated in its World Oil Outlook 2015 that $10t worth of investment in the oil and gas industry will be needed through 2040 in order to meet world’s energy deman...
Iran Prepared for US Crude, OPEC Shares to Decline
In the wake of US historic decision to remove its 40-year crude export ban, Iran is to suffer the least among oil producers, according to a statement issued by the National Iranian Oil Company (NIOC), reported Press T...
