OPEC | Egypt Oil & Gas - Part 49
Saudi Arabia in Cash Flow Crisis
Informed sources told Bloomberg that Saudi Arabia is delaying payments to government contractors thanks to the oil price slump. The country has already entered into a deficit for the first time since 2009, with constr...
Saudi-Russia Price War Extends to European Theatre
Oil refiners in Europe are cutting their longstanding use of Russian crude in favour of Saudi grades thanks to aggressive price discounting, reported Reuters. “I’m buying less and less Russian crude for my...
Qatar Energy Minister Predicts OPEC Oil Price Rebound
US News & World Report cited Qatar’s Energy and Industry, Minister Mohammed bin Saleh al-Sada as saying that oil prices have bottomed out ahead of an expected meeting of OPEC members and other oil producers ...
Venezuela Succeeds in Calls for OPEC Meeting
The Organization of Oil Producing Countries—OPEC—will hold a technical meeting on October 21st, France 24 reported. Venezuela’s Minister of Mines and Petroleum—Eulogio del Pino—announced the meeting in a recent press ... Russia and Saudi Arabia Talk Oil Prices, Shale, OPEC
Russia’s energy minister told reports on Tuesday of his talk with his Saudi counterpart last week in Istanbul during the G20 energy ministers meeting, reported Rigzone. “We discussed the situation on the m...
Aramco Holding Market Share by Decreasing Prices
Saudi Arabia has reduced its official selling price for Medium grade crude to Asia for November to a discount of $3.20 a barrel, reported Bloomberg. This is below the regional benchmark, set in Dubai, and compared to ...
UAE Firm on Energy Diversification Amid Oil Prices
“Investments are ongoing, we are a mature producer,” Energy Minister Suhail Al Mazrouei told reporters Sunday at a conference in Abu Dhabi, reported Bloomberg. The U.A.E. has said it plans to boost oil-production capa...
Saudi Adamant Over Prices as Crude Demand Returns to OPEC
Sources told Reuters that Saudi Arabia sees no need to hold a summit for oil producing countries’ over oil prices if such discussions would fail to produce any concrete resolution of the outlying issue. The comm...
