Tag Archive

U.S. Is Now Largest Oil and Gas Producer In The World

U.S. Is Now Largest Oil and Gas Producer In The World

August 21, 2019 No Comments

Petroleum and natural gas production in the United States jumped by 16 percent and 12 percent, respectively, in 2018, setting new production records and placing the United States as the world’s single largest producer of oil and natural gas, the Energy Information Administration (EIA) said on Tuesday. The U.S. had already surpassed Russia as the world’s biggest […]

NNPC GMD congratulates OPEC Chief

NNPC GMD congratulates OPEC Chief

July 4, 2019 No Comments

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has expressed delight over the re-election of Nigeria’s Dr. Mohammed Sanusi Barkindo as Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) for a fresh three-year term. The NNPC GMD in a congratulatory letter to the OPEC Chief Scribe, […]

Tags:
6th OPEC and non-OPEC Ministerial Meeting concludes

6th OPEC and non-OPEC Ministerial Meeting concludes

July 2, 2019 No Comments

The 6th OPEC and non-OPEC Ministerial Meeting was held in Vienna, Austria, on Tuesday, 02 July 2019, under the Co-Chairmanship of OPEC’s President, HE Manuel Salvador Quevedo Fernandez, People’s Minister of Petroleum of the Bolivarian Republic of Venezuela, and HE Alexander Novak, Minister of Energy of the Russian Federation. The Meeting recalled the rights of […]

Tags:
Crude Oil Price Movement to 13/06/19

Crude Oil Price Movement to 13/06/19

June 13, 2019 No Comments

The price of OPEC basket of fourteen crudes stood at $61.01 a barrel on Wednesday, 12 June 2019, compared with $62.56 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

OPEC’s Struggle To Avoid $40 Oil

OPEC’s Struggle To Avoid $40 Oil

June 12, 2019 No Comments

A few weeks ago, OPEC+ was mulling the possibility of exiting the production cut agreement because the oil market was at risk of over-tightening. Now Saudi Arabia is scrambling to extend the cuts and may even unilaterally lower its own production further in an effort to head off a price slide. On Monday, officials from […]

OPEC launches 2019 Annual Statistical Bulletin

OPEC launches 2019 Annual Statistical Bulletin

June 5, 2019 No Comments

OPEC Secretariat announced the release of the 54th edition of the Annual Statistical Bulletin (ASB). The ASB provides a wide range of data on the oil and gas industry worldwide, serving as an important source of reliable information for research analysts and academics, as well as policymakers and other industry stakeholders. The publication provides detailed and comprehensive time-series […]

Saudi Arabia, UAE “Draw The Death And Collapse Of OPEC”

Saudi Arabia, UAE “Draw The Death And Collapse Of OPEC”

May 2, 2019 No Comments

In among the multitude of threats that Iran has made public since the US sanctions on Iran were levied, Iran has now heralded the collapse of OPEC, if OPEC members fill the void by snagging market share left unfilled by Iran and Venezuela, according to S&P Global Platts. Iran’s oil minister said that two OPEC members […]

3rd Joint IEA-IEF-OPEC Technical Meeting

3rd Joint IEA-IEF-OPEC Technical Meeting

April 30, 2019 No Comments

The International Energy Agency (IEA), the International Energy Forum (IEF) and the Organization of the Petroleum Exporting Countries (OPEC) met today at the OPEC Secretariat in Vienna, Austria, to participate in the 3rd Joint IEA-IEF-OPEC Technical Meeting on the Interactions between Physical and Financial Energy Markets. The Technical Meeting is part of the trilateral work […]

Tags: , ,
OPEC and non-OPEC participants renew commitment to market stabilization

OPEC and non-OPEC participants renew commitment to market stabilization

March 19, 2019 No Comments

The Joint Ministerial Monitoring Committee (JMMC) convened in Baku, the Republic of Azerbaijan, for its thirteenth meeting on 18 March 2019. The Committee reviewed the monthly report prepared by its Joint Technical Committee (JTC) and recent developments in the global oil market, as well as immediate prospects for the remainder of 2019. The JMMC reiterated […]

Nigeria ready to reduce oil output to boost prices

Nigeria ready to reduce oil output to boost prices

February 20, 2019 No Comments

President Muhammadu Buhari today pledged the cooperation of Nigeria to the effort to reduce oil output in order to attract higher prices in the global market. Speaking at an audience with Ahmad Qattan, Minister of State for African Affairs and Special Envoy of King Salman Bin Abdulaziz of Saudi Arabia, at the State House, Abuja, […]

Tags: ,
Page 1 of 2512345»1020...Last »