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OPEC’s World Oil Outlook launches 7th November, 2017

OPEC’s World Oil Outlook launches 7th November, 2017

October 2, 2017 No Comments

The 2017 OPEC World Oil Outlook (WOO) will be presented at a press conference to be held at the OPEC Secretariat on Tuesday, 7 November 2017 at 14:30 CET. OPEC’s Secretary General, HE Mohammad Sanusi Barkindo, and senior members of management will present the key messages from the publication, which provides an in-depth review and […]

Iran Says Result of OPEC Decisions Evident in Oil Market

Iran Says Result of OPEC Decisions Evident in Oil Market

September 25, 2017 No Comments

Iranian Minister of Petroleum Bijan Zangeneh says the outcome of the decisions made by OPEC members has become evident in the global oil market. Speaking to reporters in Tehran on Sunday, the official described the level of compliance of members of the Organization of the Petroleum Exporting Countries (OPEC) to the body’s output cut plan […]

ENERGY HEADLINES THIS WEEK

ENERGY HEADLINES THIS WEEK

September 22, 2017 No Comments

The price of OPEC basket of fourteen crudes stood at $54.59 a barrel on Thursday, 21 September 2017, compared with $54.06 the previous day, according to OPEC Secretariat calculations. —————- Abu Dhabi targets IPOs worth $5 bln ahead of Saudi Aramco Abu Dhabi is hoping to fast-track at least $5 billion of stock market listings […]

OPEC Is 57

OPEC Is 57

September 18, 2017 No Comments

The Fourteenth of September is always a special day for OPEC. It is the day in 1960 when the five Founding Members of OPEC, Iraq, the Islamic Republic of Iran, Kuwait, Saudi Arabia and Venezuela created OPEC at the historic ‘Baghdad Conference’. Today is the Organization’s 57th anniversary. These five Founding Members representing their oil-producing […]

Russia Still China’s No.1 Crude Supplier

Russia Still China’s No.1 Crude Supplier

August 24, 2017 No Comments

Russia continued to be China’s biggest crude oil supplier in July for a fifth consecutive month, while Chinese refineries have been taking in more Brent-price-linked West African crude at the expense of sour Middle Eastern varieties as OPEC’s cuts led to narrower price differentials making African oil more attractive for buyers. China’s crude oil imports […]

President and Oil Minister of Gabon Meet OPEC Secretary General

President and Oil Minister of Gabon Meet OPEC Secretary General

August 2, 2017 No Comments

OPEC Secretary General, HE Mohammad Sanusi Barkindo, met with Gabon’s President, HE Ali Bongo Ondimba, and the country’s Minister of Petroleum and Hydrocarbons, HE Pascal Houangni Ambouroue and other Gabonese officials. Each meeting was also attended by a group of accompanying OPEC officials. The Secretary General and an accompanying OPEC delegation were formally received today […]

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Oil Market is steadily progressing towards rebalancing

Oil Market is steadily progressing towards rebalancing

July 25, 2017 No Comments

The Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) met in St. Petersburg for its fourth meeting on 24 July 2017 to review the June 2017 report as well as the first six months of the Declaration of Cooperation, as submitted by the Joint OPEC-Non-OPEC Technical Committee (JTC). This meeting was graciously hosted by the Russian Federation, […]

Schlumberger Announces Second-Quarter 2017 Results

Schlumberger Announces Second-Quarter 2017 Results

July 24, 2017 No Comments

Q2 2017 Earnings highlights Revenue of $7.5 billion increased 8% sequentially Pretax operating income of $950 million increased 25% sequentially GAAP loss per share, including charges of $0.40 per share, was $0.05 EPS, excluding charges, was $0.35 Quarterly cash dividend of $0.50 per share was approved Schlumberger Chairman and CEO Paal Kibsgaard commented, “Our second-quarter […]

16th edition of the World Oil and Gas Review

16th edition of the World Oil and Gas Review

July 23, 2017 No Comments

Eni presents the 16th edition of the World Oil and Gas Review, the annual statistics report on world reserves, production and consumption of oil and gas with a special focus devoted to crude oil quality and the refining industry. This year the Review presents two important innovations. For the first time, it includes a section […]

The Oil Glut

The Oil Glut

July 16, 2017 No Comments

The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks OPEC exports have come under pressure this week from technical threats to oil fields, with Saudi Arabia’s Manifa problems grabbing the headlines. Saudi Aramco CEO Amin Nasser, while addressing the World Petroleum Congress in Istanbul, stated that the outlook for oil […]

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