OPEC, Russia Consider Relaxing Production Cuts
Saudi Arabia and Russia will discuss allowing oil production to increase by around 1 million barrels per day (b/d) in an effort to ease concerns over a supply shortage and high oil prices.
Venezuela | Egypt Oil & Gas - Part 4
Oil Reaches $80 for First Time since November 2014
Oil prices reached $80 a barrel on May 17, driven by concerns over falling supplies due to renewed US sanctions on Iran.
UAE: More Pressing OPEC Issues than Iran
The Organization of Petroleum Exporting Countries (OPEC) has more important issues to consider than the US decision to withdraw from the 2015 nuclear agreement with Iran, United Arab Emirates Energy Minister Suhai ...
Iraq May Have Double the Current Oil Reserve Estimates
Iraq may have double the current estimated amount of oil reserves, the country’s oil minister Jabar Al-Luaibi said.
OPEC Ministers to Meet Russia
The energy ministers of Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts.
Algeria to Supply Crude to Cuba
Algeria is sending crude oil to Cuba for the first time to help offset lower supplies from the island's closest ally, Venezuela. Algeria's state-owned Sonatrach plans to ship about 515,00 barrels of crude to Cuba in ...
Russia to Invest $20b in Venezuelan Oil
Russian energy giant Rosneft's CEO, Igor Sechin, met with the President of Petroleos de Venezuela, S.A. (PDVSA), Eulogio Del Pinothe, and the leadership of the country to discuss four cooperation agreements worth $20b. 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. Venezuela’s PDVSA to Securitize Oil Debts as Production Falls
According to the President of the Venezuelan state oil company PDVSA, Eulogio del Pino, who is also Venezuela’s Oil Minister, the company is currently in talks with other oil services companies to turn unpaid bills i ...
